Governor Mai Mala Buni signed into law on Thursday a bill for the establishment of the Yobe State Agency for Public-Private Partnerships and Investment Promotion, YAPPPIP.
A statement by Shuaibu Abdullahi, the secretary to Yobe State Secretary to the State Government, said the agency’s purpose is to provide for the participation of the private sector in the financing, construction, development, operation, management, or maintenance of infrastructure or development projects of the government.
Such participation includes concessions or other contractual arrangements such as Build-Operate-and-Transfer, BOT, Build-Own-Operate, BOO, Build-Own-Operate-and-Transfer, BOOT, Joint Development Agreement, JDA, Build-Operate-Transfer, BOT, and Design-Build-Own-Operate-and-Transfer DBOOT.
According to the statement, the law, cited as “Yobe State Agency for Public Private Partnership and Investment Promotion Law 2023,” takes effect on December 28, 2023.
“The law was conceived and passed in furtherance of the foresight and commitment of the administration of His Excellency, Mai Mala Buni, towards providing an efficient, fair, and transparent business environment for the private sector to thrive. With such a formidable legal framework, an equitable and level playing field has been enabled to accelerate the phase of Yobe State economic recovery and transformation through a safe inflow of local and foreign direct investments,” the statement added.
The statement also disclosed that Governor Buni has signed two executive orders, namely, “Establishment of Grievance Redress Mechanism for Trade-Related Matters” and “Promotion of Transparency and Efficiency in the Business Environment,” to enhance the implementation of the business enabling reform action plans of the state.
