Governor Babajide Sanwo-Olu of Lagos State, has urged the private sector to forge mutual collaboration with the government in ensuring the attainment of inclusive development in the state and Nigeria as a whole.
Sanwo-Olu said this in his Keynote address delivered on his behalf by the Commissioner for Budget and Economic Planning, Mr Sam Egube at the 3rd Nigeria Public Private Partnership Network (NPPPN) Forum held in Lagos, with the theme ‘The Role of PPP In The 2021-2025 National Development Plan’.
The governor explained that the state had increasingly become the PPP Eco- chamber of Nigeria being home to over 2000 financial institutions and Nigeria’s largest ports.
Sanwo-Olu said: “Our administration has embarked on ground breaking PPP projects including the 38 kilometer long 4th Mainland Bridge which is now at the final RFP stage and expected to be the longest bridge in Africa, a world class 5,000 Trailer Park to manage the existential challenges of being Nigeria’s Haulage Hub, major investments in the development of new maritime channels for commercial operation of modern water transportation, housing, investments in traffic intelligence and physical road signals, institutional investments in radiology and laboratory/testing equipment across our health institutions- all using the PPP framework as an effective tool.
“At this juncture, I wish to emphasize that we have witnessed significant and extensive mileage in PPP investment to address several developmental challenges confronting Lagos state, but we still have a long way to go.
“The Lagos State PPP Office is designed to facilitate, incentivise and create best fitted structures for injection of private capital into the state.
“It is our hope that the Offices of the Honourable Minister of Finance and Mr Atedo Peterside, being (Chairman and Co-Chair) for implementing the National Development Plan (2021-2025) shall consider the Special Status of Lagos as the largest market in Sub Saharan Africa; in their implementation structure.”
Earlier, the Chairman of the Lagos State House of Assembly Committee On PPP, Hon. Lukmon Olumoh, said that the enactment of the state’s PPP law improve the legal collaboration between private sector and the government on investments, adding that it enhances development and greater wealth generation in the state.
Olumoh canvassed mutual collaboration between the private sector and the government so as to better the lot of the citizens, saying that government cannot do it alone.
The lawmaker added that the House had set the pace for passing the PPP Law to cater for the activities of engaging the private sector in providing infrastructure to the citizenry based on the agreement reached with the state government.
The Special Adviser to the Governor On PPP, Mr Ope George in his welcome address, said that any government with intention to provide adequate infrastructure to its citizens needs to adopt all available PPP models.
George stated that Lagos is a trail blazer in the adoption of PPP for infrastructural development.
In his address, the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, who was represented by the Head of Economic Monitoring and Research, Paul Kanu, said the Federal Government had demonstrated its commitment to creating an economy largely driven by the private sector through funding and implementation of infrastructure projects using PPP.
Mustapha added that Federal Government was committed to ensuring that all contracts completed in compliance with the ICRC Act would be legal and enforceable to enable investors recover their expected returns subject to compliance with the terms of the PPP.