Rivers Investment Agency Makes Case For Projects Beyond One State

The Rivers State Investment Promotion Agency (RSIPA) which is pushing ease of doing business in the oil capital of Nigeria, has made a case for businesses that may go beyond one state.
RSIPA’s director-general, Dr Chamberlain Peterside, disclosed this yesterday while speaking during a roundtable organised by the BRACED Commission in Port Harcourt, the state capital.
The two-day roundtable, which was organised in preparatory to an economic summit in the near future, featured the investment promotion agencies of the cooperating states: Bayelsa, Rivers, Akwa Ibom, Cross River, Edo, and Delta states.
Peterside named such projects that would require regional collaboration as rail lines, power plants, blue economy projects and others.
He stared that some proposals already flooding the state after the lull caused by state of emergency, showed indications of going beyond one state, and called for a regional investment platform that would manage such projects.
Outlining plans to fast-forward the investment wheels of the state, the RSIPA boss hailed the rebounding of the BRACED Commission which did well at the onset.
“The governors of the region were one and united for one cause. Then, politics came and everything scattered. The agenda is simple, to integrate the economy of the region into one strong bloc,” Peterside said.
Admitting that the state investment promotion agency is very young, plus six months in the limbo of state of emergency, the RSIPA director-general said: “This thus is a very unique opportunity to get resurgent momentum.”
He listed the achievements of RSIPA in the short period since its establishment saying they have received numerous investment proposals.
Peterside said: “We’ve engaged actively with the private sector, both those currently operating in the state and those intending to invest. We do realize the fact that investment begins from domestic investors. and you have to guide them.
“Through outreach programmes and establishment of a One-Stop-Center (OSC), we have created a streamlined system for addressing investor needs, supporting their business operations.
“For the first time in Rivers State, prospective investors and small and medium enterprises now have a centralized hub that can address their challenges and find solutions that enable them to thrive.
“One of our cardinal focuses at RSIPA is to enhance the operating climate and improve the ease of doing business.
“We are committed to creating a vibrant and business-friendly environment that attracts and retains investment. We are also working closely with other ministries, departments, and agencies to harmonize our activities.
“Collaboration for us is key; we see Rivers State as a single ecosystem where all stakeholders work together to support investment inflow and build a favorable environment for businesses to flourish.
“The carpet is shifting under our feet. The IOCs (international oil corporations) have moved offshore. The issue before us now is how should the region act now. We should target big ticket investment proposals. This is because some proposals will involve other states. There is thus need to collaborate.”
Director general of the Bayelsa Investment Promotion Agency (BIPA), Patience Ranami Abah, also shook the floor when she presented what she termed ‘Closing the Value Capture Gap’. She showed how the states will win bigger by playing together to present an economic front.
A deputy director, David Franklin, who represented the permanent secretary, Federal Ministry of Industry, Trade, and Investment, Abuja, said investment in people is the beginning of prosperity. “The South-South is the hub of power of Nigeria due to hydrocarbon industry, blue economy, agriculture, tourism, etc.”
Ambassador Joe Keshi, the Director-general of BRACED Commission, in his welcome remarks, said the roundtable was themed around synchronising investment frontiers in a strategic framework for south-south economic integration.
The roundtable ended with a communique that recommended setting up a monitoring committee, and other organs to drive integration and investment.