The Ogun State government has assured residents and investors, that the Public Private Partnership (PPP) law in the State would ensure continuity of long-term projects, even after the lifespan of the present administration.
The State Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe gave this assurance while speaking with journalists in her Office at Oke-Mosan, Abeokuta, saying the Prince Dapo Abiodun-led administration laid the foundation for the continuity of long-term projects executed under PPP arrangements, with the signing of the PPP Bill into law and this would give comfort to potential investors in the State.
“A lot of projects, especially infrastructural projects, under PPP are long-term in nature that would typically outlast different governments. That is why the PPP law was extensively reviewed and debated before it was passed by the State House of Assembly and later signed into law by Governor Dapo Abiodun.
‘’The law gives investors the assurance that all the agreed terms and conditions on PPP projects will continue to be honoured from one administration to the other. The law guarantees sustainability of the projects and helps to manage the risk of arbitrary changes that we have historically seen with various governments across the country in the past”, she said.
Mrs. Longe assured that government remains committed to “partnership that works”, adding that ‘’agreements with any investor would be structured in such a way that promotes the interest of Ogun State people’’.
“In evaluating potential investment partners, we will review critical factors that will contribute to the success of the project. Examples of these factors include the quality of their team, the organizations’ track record, financial capability and others”, she stated.
Meanwhile, the Commissioner explained that the Ministry’s name change from the Ministry of Commerce and Industry to the Ministry of Industry, Trade and Investment, which was effected earlier in the year, was to reflect government’s increasing focus on attracting more investments into the State, noting that the change also aligns with the name of the Federal Ministry of Industry, Trade and Investment.