Nigeria Content Online

A new law to drive private participation in government business in Cross River state is now in place.

This is the
public-private-partnership (PPP) law that is expected to woo the
organised private sector. Governor Liyel Imoke, while giving his assent
to the PPP Law 2010, said it will give fillip to public private
partnership in the state as well as “create an enabling environment for
transparent process, opportunities for participation, and clear
regulatory framework for the partnership to develop.” The law seeks to
create the legal and institutional framework to facilitate and regulate
the financing, development, and maintenance by the private sector of
some public enterprises and services.

Mr Imoke revealed
that the state is the first state in the country to embark on the
process by providing the necessary statute to guide it and “will
continue to create an enabling environment with clear understanding of
working together with the private sector to develop its economy.” He
also expressed gratitude to the federal government for “its support in
working out the policies of the law,” and commended all those who
played significant roles to ensure the realisation of the law.

Mr Imoke declared
that the implementation of the law is with immediate effect, and called
on ministries, departments and agencies to study it in detail. He asked
them to set up PPP units in their offices because all PPP projects will
be executed in consent with the law which is very critical, adding that
more PPP contracts will be seen in the state in the 2011 fiscal year.
“This will go a long way to relieve the pressure on our capital budget
and addressing the resource gap that has always been a burden to us,”
he said. “We are on the verge of a fast tracking of our growth and
development in Cross River State.”

Fidelis Ugbo, the Secretary to the state government, said the PPP
law will fast track private sector participation and bring about a boon
in economic activities. Mr Ugbo described the law as a milestone in
business development, adding that it has given the right signal to the
private sector in the state and others who want to invest.