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|How The Ajimobi-led OYSG Has Thrived With Ppps by Wemimoigida: 12:39pm On Oct 25, 2017|
Quite a handful of the landmark projects either completed or ongoing in Oyo state under the Ajimobi administration were birthed from the smart and internationally-applicable policy known as PUBLIC-PRIVATE-PARTNERSHIPS (PPPs).
The Technical University with Central Bank of Nigeria, the Ibadan Circular Road with ENL Consortium, state-wide and state-of-the-art road constructions, the Inland Dry Port with AP Maersk, the Polaris Pacesetter Free Trade Zone with a Chinese Consortium in the of China Polaris Technologies Group, the Milk Collection Center with Friesland-Campani WAMCO, the Schools’ Governing Board, etc, are examples of the ways by which the Ajimobi government has deployed the gains of PPPs.
Contrary to wrong opinions, when a project or initiative is termed “PPP”, it is NOT solely FUNDED by government; in fact, a public-private partnership is a contractual arrangement between a public agency (federal, state or local) and a private sector entity. Through this agreement, the skills and assets of each sector (public and private) are shared in delivering a service or facility for the use of the general public.
But a higher motivation for governments considering public–private partnerships is the assured possibility of bringing in new sources of FINANCING for funding public infrastructure and service needs – This has been one of the key ways by which the Ajimobi-led Oyo state government has mitigated the effect of recession and dwindling allocation, bringing in projects and policies to sustain its repositioning agenda.
Governments all of over the world have used such a mix of public and private endeavors throughout history to drive development.
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