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Delta State Government has unveiled a $100 million fund to de-risk private sector investments, aiming to attract more investors to the state. This move is part of the Delta State Economic and Investment Summit held in Asaba, where the Vice President Kashim Shettima and other notable figures, including Dr. Ngozi Okonjo-Iweala and Prof. Patrick Lumumba, were in attendance.

According to Governor Sheriff Oborevwori, the fund, also known as a Viability Gap Fund, will help to de-risk new investments in the state, allowing the government to speedily execute agreements related to the summit. Vice President Shettima emphasized that every state in the federation has a unique investment proposition shaped by its history, geography, people, and natural endowments.

Speaking at the summit, Shettima stated that while each state pursues prosperity uniquely, every one does so with the goal of growth, employment, prosperity, and human dignity. He noted that the Bola Tinubu administration has created a stronger foundation for states to pursue development through its economic reforms.

As a result, Delta State enters this moment with an advantage, boasting an extensive coastline, abundant natural gas, ports, power assets, rich agricultural resources, and an educated, enterprising population. This endowment already qualifies the state as a first-order investment destination, and it remains for the world to be told about it.

The Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, endorsed Delta State's over $100 million investment fund as a bold step towards attracting investors. Renowned Kenyan scholar and Pan-Africanist, Prof. Patrick Lumumba, urged the Federal Government to dismantle visa barriers hindering the movement of Africans across the continent, as these restrictions undermine regional integration, investment, and the objectives of the African Continental Free Trade Area, AfCFTA.

Governor Chukwuma Soludo of Anambra State called for deeper economic collaboration between Delta and Anambra states, describing both as natural “twin growth hubs” capable of driving regional prosperity. Chairman of Heirs Holdings, Mr. Tony Elumelu, endorsed Delta State as one of Nigeria's emerging investment destinations, declaring that the state is ready for profitable investments while calling for a partnership with the state government to unlock its huge power potential.

The Vice President's remarks on states having unique investment propositions sparked discussion on the potential of other states to emerge as major industrial hubs. This is especially pertinent for states with comparative advantages that distinguish them from others.

The Delta State Economic and Investment Summit has brought a plethora of opportunities for investment and growth. The state government's announcement of a $100 million fund demonstrates its commitment to ensuring that agreements reached at the summit are executed without delay. As Governor Oborevwori noted, it is a practical demonstration of the government's total commitment to translating investment commitments into tangible projects that will accelerate industrialization and economic growth.

As a result, the future of Delta State holds much promise. Not only is it poised to emerge as a major industrial hub, but it is also working to dismantle any barriers to growth and development.

“We are not just talking about growth, we are talking about creating employment, prosperity, and human dignity. We are talking about creating a future that we can be proud of.” — Vice President Kashim Shettima

“We promised to place Nigeria on the path of growth, and each gathering offers another platform for turning that promise into enterprise. Every host state contributes to the Federation's commercial ambition. One highlights agriculture, another minerals, technology, ports, energy or tourism. In that healthy rivalry, Nigeria discovers the full meaning of her wealth.”

“Delta State enters this moment with an advantage. That advantage is larger than its oil wealth. The future of a people cannot be dependent on a single commodity. Diversification is not merely an economic strategy; it is an instinct for economic preservation and a measure of the quality of leadership.”

“The state has one of the longest coastlines in the Federation, abundant natural gas, ports, power assets, rich agricultural resources, and an educated, enterprising population. A state so endowed already qualifies as a first-order investment destination. What remains is for the world to be told.”

Delta State Government's announcement of a $100 million fund is a significant step towards achieving this goal of growth and development.

Key Facts:

  • The Delta State Government has announced a $100 million fund to de-risk private sector investments.
  • The fund is part of the Delta State Economic and Investment Summit held in Asaba.
  • The Vice President Kashim Shettima has stated that every state in the federation has a unique investment proposition shaped by its history, geography, people, and natural endowments.
  • The state government has set aside $100 million, approximately N137.8 billion as Viability Gap Funding to de-risk new investments in the state.
  • Governor Sheriff Oborevwori has emphasized the government's commitment to translating investment commitments into tangible projects that will accelerate industrialization and economic growth.