Business & Economy
25 Investors To Storm Delta Economic Summit,As Shettima,Okonjo – Iweala Expected
By David Owei
The Delta State Government, Monday, said 25 prospective investors from Brazil and China have indicated interest in the forthcoming Delta State Investment and Economic Summit, as Vice President Kashim Shettima and Director-General of the World Trade Organisation, WTO, Dr Ngozi Okonjo-Iweala, Patrice Lumumba headline a high-powered list of participants.
Secretary to the State Government, SSG, and Chairman of the Main Organising Committee, Dr Kingsley Emu, disclosed this during an interactive session with stakeholders in Asaba, saying the summit would connect the state’s vast economic potential with local and international capital.
Emu said the summit, themed “Harnessing Our Strengths and Potential,” would also attract the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, development finance institutions and leading private-sector players, while renowned oil and gas industry leader, Engr. Austin Avuru, would serve as Chairman.
He said: “To date, 25 potential investors are coming in from Brazil and China. They have indicated interest and we are already making preparations for them.
“Our sister, Dr Ngozi Okonjo-Iweala, Director-General of the WTO, will be the keynote speaker. Engr. Austin Avuru is the Chairman of the Summit. The Minister of Finance has personally acknowledged his attendance, while the Vice President, Senator Kashim Shettima, has also confirmed his attendance.
“So, it is going to be a star-studded programme, with participation from the national level, development finance institutions and a host of others.”
Emu stressed that local businesses would play a critical role in translating foreign investor interest into sustainable economic activity, noting that prospective investors were already seeking credible indigenous partners.
“For every potential investor who has expressed interest, they are talking about local partners, and those partners will come from among our people.
“The significant success we will achieve on this journey will depend on your cooperation, collaboration and positive disposition to what we want to do,” he told stakeholders.
The SSG said Delta was approaching the summit with clearly defined and bankable investment propositions rather than a broad promotional agenda, identifying agriculture, aquaculture, power, oil and gas, solid minerals, manufacturing and the blue economy as priority sectors.
According to him, Delta possesses strong economic fundamentals, including a youthful population, extensive land and waterways, abundant oil and gas resources, expanding infrastructure and a broad network of tertiary, technical and vocational institutions.
“We have a lot of strengths. We are one of Nigeria’s leading subnational economies, with a youthful population and enormous consumption potential.
We have vast land and water resources that give us a competitive advantage, particularly in the blue and marine economy,” he said.
Emu said the state was deliberately repositioning beyond its traditional identity as a leading oil-producing state, with services, agriculture and other non-oil sectors increasingly contributing to economic growth.
He said; “we have four universities owned by the state, so we are providing a new level of manpower. Potential investors can partner freely and easily with our institutions and technical colleges to train manpower tailor-made to suit their operations.
This presents enormous opportunities in human capital development and availability of skilled manpower.
“We are very strong in agriculture and we want to translate that strength across the entire value chain. Cassava is one of the areas we are looking at. We are also looking at rice and other agro-products. What we want is investment that creates value, jobs and sustainable economic activity”.
The SSG described aquaculture as one of Delta’s strongest but underdeveloped opportunities, saying the state has a huge concentration of fish farmers and fish ponds but requires significant investment in fish feed production, cold rooms and processing facilities.
“Fish feed is one of the most important, expensive and challenging issues for fish farmers. Once you have those feeds available, you can be sure that we will become a major fish basket.
“If we have cold rooms and processing facilities around, our farmers will produce much more. We are looking for investors, both foreign and local, to partner with us to bridge these gaps,” Emu said.
He said the state’s extensive waterways also offered opportunities for commercial fishing, processing and other blue-economy ventures.
On solid minerals, Emu listed kaolin, coal, silica, clay and lignite among resources with commercial potential, stressing that some deposits were already attracting concessions and commercial activity.
“Solid mineral opportunities exist here. It is no longer storytelling; the resources are proven and people are already doing business in some of these areas,” he said.
Emu also identified power as a major investment frontier, citing Delta’s gas resources and proximity to critical gas infrastructure as competitive advantages for industrial development.
He said the government was exploring decentralised electricity solutions, particularly mini-grids and captive generation, to provide more reliable energy for industrial clusters, manufacturing concerns and commercial centres.
“The preferred model for us is the mini-grid because the national grid has become a major challenge. We have opportunities for power across the state, particularly in our cities and industrial areas where demand is high.
“If you have consistent power supply, the economy will do much better. We have the gas, we have the strategic location and we have the opportunity to provide competitive power for industries,” he said.
Emu said the summit would go beyond speeches to include sector-focused engagements, investment matchmaking, site visits and structured follow-up aimed at converting investor interest into bankable projects.
Speaking on behalf of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA, Janet Olisa said the organised private sector was fully on board and ready to partner with the state government.
She expressed confidence that sustained public-private collaboration would help translate the summit into tangible investments, job creation and broader economic growth.
Business & Economy
Livestock Ministry debunks N140m Emir Palace budget report, says items belong to Veterinary College
By AbdulGaneey Akanbi
The Federal Ministry of Livestock Development has debunked reports circulating in sections of the media and on social media alleging that it budgeted funds for the rehabilitation of Emir Palaces and Mosques in the 2026 budget.
In a press statement issued weekend by the Head of Information and Public Relations, Henrietta Okokon, the ministry described the reports as “false and misleading.”
The statement stated categorically that the budgetary provisions being referenced are not contained in the Headquarters budget of the Federal Ministry of Livestock Development.
It explained that the items were wrongly attributed to the ministry, but are actually contained in the budget of the Federal College of Veterinary and Medical Laboratory Technology, Vom, Plateau State.
“Rather, they are contained in the budget of the Federal College of Veterinary and Medical Laboratory Technology, Vom, Plateau State, a self-accounting institution with its own distinct budgetary allocations,” the statement read.
The ministry noted that the sum of N140 million allegedly budgeted for the rehabilitation of Emir Palaces and Mosques in Kaduna State, among other unrelated projects, does not form part of its programmes and priorities.
It said the erroneous attribution has created the impression that the ministry appropriated funds for projects outside its mandate.
The ministry recognized the legitimate concerns raised regarding the alignment and clarity of budgetary proposals submitted by institutions under its supervision.
It assured that in line with its commitment to transparency, accountability and prudent management of public resources, it will strengthen coordination with its agencies to ensure budget proposals are aligned with institutional mandates and clearly articulated.
The statement urged members of the public, media organisations and other stakeholders to distinguish between the budget of the Federal Ministry of Livestock Development and the separate budgets of its agencies and institutions before drawing conclusions or publishing reports.
“As partners in public information, we encourage journalists and media houses to actively verify data with relevant official government sources and seek necessary clarifications prior to publication,” Okokon stated.
The ministry said this collaborative approach will ensure the public receives accurate, verified reporting while preventing the spread of misleading information.
Business & Economy
North/C Dev.Com:N2.9billion per month is a drop in an ocean – Senate tells FG
By George Mgbeleke
The Senate Tuesday through its committee on North Central Development Commission ( NCDC), described the N2.9billion monthly allocation being given to the commission as grossly inadequate when compared to N140billion budget size earmarked for the commission in 2026.
Speaking to journalists after interactive session between the committee and management of the commission , Senator Titus Zam in his capacity as Committee Chairman , said the N2.9billion monthly allocation being given to NCDC will at the end of the year not up to half of projected budgetary allocation for it .
He posited that the N2.9billion monthly allocation from the N140billion budgetary appropriation, is a temporary package which would be improved upon .
” If you give someone that has a budget of 140 billion, N2.9 billion per month, in 12 months, it won’t be up to half of the entire budgetary sum .
“I suppose that is just a temporary package. When the commission finally comes to fruition, much more funds will be released. So we thank Mr. President, we thank the executive for dropping something now but look forward for more “, he said .
He however added that the Senate Committee will see to judicious spending of the little allocation being collected by the commission now by guiding it on areas that should be focused on .
” North Central is mostly an agricultural land. We have arable land, we have good rainfall, we have vegetation, there’s policy for agriculture. We need the department of NCDC to take agriculture very seriously.
“We also have a challenge of insecurity. The commission is advised to support the security forces and state government to complement their efforts towards mitigating the tides of insecurity within the region.
“We also ask them to take rural development very seriously because we are also rural in nature”, he said .
Business & Economy
Senate threatens NCAA, SMEDAN, ITF, others with sanctions for failing to appear before it,….Cost of Import Duty Exemption rose to N34trillon in 2025-Customs
By George Mgbeleke
Visibly angry at the absence of some key revenue earning of the federal government at Senate public hearing by Senate Committee on Finance on Monday,the panel threatened heads of the Nigerian Civil Aviation Authority (NCAA), Small and Medium Enterprises Development Agency of Nigeria ( SMEDAN), Industrial Training Fund ( ITF), Federal Medical Centre ( FMC) Jabi etc , with severe sanctions for failing to appear before it .
This is as Comptroller – General of Nigeria Customs Service ( NCS), Bashir Adewale Adeniyi has declared that costs of Import Duty Exemption Certificates ( IDEC) approvals on some imported goods and equipments, which commenced in March 2020, rose to N34trillion in 2025.
The Customs CG at the investigative session the committee had with some revenue generating agencies on Monday , said policies of government at different times affect revenue generating capacity of Customs , positively or negatively.
According to him , Customs as a leading revenue generating agency , would have generated far above , what it did in the past years ,if not for some government policies and other extraneous factors that inhibited it from doing so
He specifically informed the committee that Import Duty Exemption Certificates ( IDEC) on some goods and equipments introduced in March 2020 , is one of such policies inhibiting Customs revenue generation .
“IDEC approvals reached about ₦34 trillion in 2025 60% of which as rightly done by government related to military hardware procurements which attracted duty exemptions because of Nigeria’s prevailing security challenges.
” Other government-backed waivers, included
Importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, Healthcare equipment and medical supplies; Industrial machinery and manufacturing inputs; and
Food import intervention programmes”, he said .
He however explained that fiscal policy should not be viewed solely from the perspective of revenue generation but also in terms of achieving broader economic and social objectives but suggested that government should establish stronger monitoring mechanisms to assess whether beneficiaries of duty waivers were delivering the intended economic benefits, such as lower prices, increased production and improved healthcare access.
Earlier in his submission , he said out of the N11. 04trillion revenue projected for 2026, N4.5trillion was generated by 30th of June , leaving balance of about N7trillion left to meet up with the set target for the fiscal year .
However, Bello Gulmare who represented Fiscal Responsibility Commission ( FRC) as Deputy Director , Monitoring &:Evaluation , alleged that Customs as at 2019, has N8.9billion liability of non – remittance of operating surplus into the Consolidated Revenue Fund ( CFR) , which was vehemently kicked against by Customs .
Similar liability on non remittance of operational surplus was made to the Corporate Affairs Commission ( CAC) , totalling N13.9billion from 2023 to 2025 which the Registrar – General of CAC , Hussaini Ishaq Magaji said was being upset gradually .
The committee chaired by Senator Sani Musa ( Niger East), however directed that CAC, the FRC and the committee should hold a meeting to reconcile the details in order to ascertain the exact outstanding balances.
” Detailed report on outcome of the planned meeting , should be ready within the next two weeks for another interface with CAC .
” Heads of agencies like NCAA , ITF , SMEDAN , FMC Jabi etc , who failed to physically attend today’s session , should unfailingly make themselves available at next sitting or risk severe sanction through invocation of relevant section of our rules against them”, he warned .
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