Shettima, Okonjo-Iweala, Oyedele, Lumumba, Others Rally Investors To Delta

…As Gov Oborevwori unveils N133bn fund to de-risk private investments

BY BAYO AMODU and FELIX IGBEKOYI, Asaba

Delta State was the focal point of Nigeria’s investment narrative on Monday, as Vice President Kashim Shettima, World Trade Organisation director-general Dr Ngozi Okonjo-Iweala, minister of finance and coordinating minister of the Economy, Taiwo Oyedele, renowned Pan-African scholar Prof. Patrick Lumumba, and other influential business leaders mounted a strong case for investment in the state.

Speaking at the opening ceremony of a three-day Delta State Economic and Investment Summit in Asaba, yesterday, these array of global and national leaders which also include, Anambra State Governor Prof. Chukwuma Soludo, billionaire investor Tony Elumelu, Chairman and CEO of Mosra Energy Ramos Olukayode, UTM Gas Limited CEO Julius Rone, renowned energy entrepreneur Austin Avuru among others called on domestic and international investors to seize the vast opportunities in Delta State, describing it as one of Africa’s most compelling frontiers for investment, industrial expansion, innovation, and sustainable economic transformation.

The endorsements were delivered as Governor Sheriff Oborevwori unveiled a landmark $100 million (approximately N133 billion) Viability Gap Fund to de-risk private-sector investments, catalyse capital inflows, and accelerate the delivery of transformative projects across critical sectors of the economy.

In his keynote address, Vice President Kashim Shettima declared that Nigeria’s sweeping economic reforms were steadily restoring investor confidence and repositioning the country as a competitive destination for global capital. He urged investors to act decisively, warning that the most attractive opportunities would not remain undervalued for long.

Describing Delta State as a “first-order investment destination,” Shettima said the state possesses all the ingredients required to emerge as one of Africa’s foremost industrial, energy and commercial hubs. He cited its vast natural gas reserves, strategic coastline, seaports, agricultural endowments, refining assets, blue economy potential and rich solid mineral deposits as unparalleled advantages capable of driving sustained economic growth and prosperity.

“The best time to invest is now,” the Vice President declared, pointing to Nigeria’s improving sovereign ratings by Fitch, Moody’s and S&P Global as clear indicators of growing international confidence in the nation’s economic trajectory. He also commended Governor Oborevwori for his bold commitment to economic diversification, investment promotion and the creation of a business-friendly environment that is attracting both local and foreign investors to Delta State.

Governor Oborevwori declared Delta State as intentionally charting a new economic course—transitioning from a resource-endowed state to a globally competitive investment and industrial powerhouse.

Beyond unveiling the $100 million Viability Gap Fund, the governor showcased an ambitious package of investor-focused reforms, including tax incentives, ease-of-doing-business initiatives, enhanced security architecture, over 12,000 hectares designated for commercial agriculture, and vast opportunities across renewable energy, natural gas, logistics, maritime trade and the blue economy. He assured prospective investors that Delta State remains fiscally strong, financially stable and debt-free despite unprecedented investments in critical infrastructure.

Delivering a keynote address, Dr Ngozi Okonjo-Iweala, challenged Delta State to think beyond national boundaries and position itself as a formidable player in global manufacturing, trade and investment. Describing herself as a “Delta State optimist,” Okonjo-Iweala said the state possesses all the fundamentals required to emerge as Nigeria’s next industrial growth engine, citing its vast gas reserves, seaport access, rail connectivity, skilled workforce, agricultural potential, and prudent fiscal management.

She urged the state to seize opportunities arising from global supply chain realignments and the African Continental Free Trade Area (AfCFTA), while prioritising special economic zones, agro-processing, marine logistics, oil and gas value addition, digital infrastructure, and artificial intelligence. “Delta State should aspire to become a global destination for skilled talent, manufacturing excellence and investment,” she declared.

Finance Minister Taiwo Oyedele said the reforms initiated by President Bola Tinubu have laid a strong foundation for macroeconomic stability while significantly expanding revenues available to subnational governments. He noted that Delta possesses the strategic location, abundant natural resources and entrepreneurial population needed to convert those reforms into broad-based prosperity through private-sector-led industrialisation and economic expansion.

Bringing a broader continental perspective, renowned Pan-African scholar, Prof. Patrick Lumumba, challenged Delta State to benchmark its ambitions against the world’s leading economies rather than neighbouring states. The Kenyan intellectual said the state possesses the human capital, resource base, and economic capacity to become a globally competitive industrial hub, but stressed that sustained success would require visionary leadership, long-term planning, innovation, research, a reliable power supply, and deeper integration with African markets.

Lumumba also called for a new era of intra-African investment, arguing that the continent’s economic future cannot depend exclusively on foreign capital. “It is deeply tragic that we do not see fellow Africans as investors,” he said, urging future editions of the summit to attract greater participation from investors across Africa.

Governor of Anambra State, Prof. Chukwuma Soludo, echoed the call for economic transformation, urging Nigerians to embrace locally manufactured goods as a catalyst for industrialisation, wealth creation and mass employment.

According to him, stronger patronage of Made-in-Nigeria products could unlock millions of jobs, accelerate manufacturing growth and reduce the nation’s dependence on imports. He also advocated deeper economic collaboration among states and sustained investment promotion efforts beyond summit declarations.

On the business front, Chairman of Heirs Holdings, Tony Elumelu, described Delta State as one of Nigeria’s most attractive investment destinations and pledged support for the state’s economic transformation through strategic partnerships, particularly in the power sector. Elumelu revealed that Delta currently boasts approximately 1,000 megawatts of installed electricity generation capacity, noting that stronger collaboration between government and the private sector could unlock unprecedented industrial growth and economic competitiveness.

Also speaking, chief executive officer of Mosra Energy, Ramos Olukayode, disclosed that Delta State holds more than 200 million tonnes of coal reserves and said targeted investments in energy and industrial infrastructure could position the state among West Africa’s foremost industrial centres.

Chairman of the summit, Austin Avuru, outlined a bold roadmap for building a globally competitive Delta economy, advocating maritime sector reforms, industrial parks, commercial agriculture and modern logistics infrastructure capable of attracting large-scale private capital.

The summit also heard from the Chief Executive Officer of UTM Gas Limited, Julius Rone, who revealed that Delta State’s ₦42 billion investment in the company has grown to nearly ₦200 billion. He further announced plans to establish the company’s corporate headquarters in Warri, reinforcing the state’s growing status as a major energy and investment hub.

Managing director of the Niger Delta Development Commission (NDDC), Samuel Ogbuku, alongside other industry leaders, also contributed to discussions on accelerating investment, industrialisation and sustainable economic growth in Delta State.