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Shettima Backs Delta’s Investment Drive, FG Pledges Support as Oborevwori Unveils $100m Fund

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Vice President Kashim Shttima

By Our Correspondent

In an effort to accelerate investment opportunities of Delta state,Vice President Kashim Shettima on Monday declared that the Federal Government would continue to support and partner with states driving economic reforms and investment promotion in line with President Bola Tinubu’s Renewed Hope Agenda, describing Delta State as one of Nigeria’s most promising investment destinations.

Speaking at the Delta State Economic and Investment Summit 2026 in Asaba, Shettima commended Governor Sheriff Oborevwori for what he described as a bold and strategic investment agenda capable of transforming Delta into a major hub for local and international investors.

The summit attracted top government officials, captains of industry, development partners and global economic leaders, including Governor Chukwuma Soludo of Anambra State, Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, NDDC Managing Director Samuel Ogbuku, Tantita Security Services Managing Director Kestin Pondi, and other stakeholders who explored pathways for accelerating investment, industrialisation and sustainable economic growth.

Shettima said the Federal Government was encouraged by Delta State’s commitment to economic recovery and diversification, assuring that Abuja would not hesitate to assist any state actively pursuing reforms that align with national economic priorities.

According to him, the increasing competition among Nigerian states to attract investments should be encouraged because it promotes development rather than conflict.

“The type of competition among our states is now evident in the quality and ambition of the investment summits convened across the federation. Every state is defining its own trajectory based on its geography, people and comparative advantage. This is a race we must welcome because the prize is employment, prosperity and human dignity,” the Vice President said.

He noted that Delta possesses enormous economic potential through its vast oil and gas resources, long coastline, rich agricultural land, solid minerals and expanding industrial base, stressing that these advantages would only become economically valuable if properly organised, financed and converted into productive investments.

Shettima urged the state government to sustain investments in agriculture, manufacturing, logistics, industrial development and the blue economy, describing them as critical sectors capable of creating jobs and strengthening Delta’s competitiveness.

He added that the investment summit demonstrated Governor Oborevwori’s resolve to move beyond policy discussions by pursuing tangible investments capable of delivering measurable economic outcomes.

Eladed Governor Sheriff Oborevwori announcement a $100 million (about ₦133 billion) Investment Support Fund, which he said designed as a Viability Gap Fund to reduce investment risks and encourage both domestic and foreign investors to establish businesses in the state.

The announcement drew a standing ovation from participants, who described the initiative as one of the boldest investment commitments by a sub-national government in recent years.

Oborevwori explained that the fund would ensure that investment agreements reached during the summit are translated into bankable projects capable of stimulating industrialisation, creating employment opportunities and expanding the state’s economy.

“The Delta State Government has set aside $100 million, approximately ₦133 billion, as a Viability Gap Fund to de-risk new investments in the state. This demonstrates our commitment to turning investment commitments into measurable economic impact,” the governor declared.

He further assured investors of Delta’s fiscal stability, revealing that despite executing numerous infrastructure projects across the state, his administration had not borrowed from commercial banks.

“We have not borrowed a kobo from any bank, and we have no intention of doing so. This reflects our commitment to fiscal discipline, prudent financial management, transparency and accountability,” he said.

Oborevwori explained that the summit, themed “Unlocking Delta’s Economic Potentials,” was conceived following investment missions to China, Brazil and Germany in July 2025, where his administration engaged global investors to showcase the state’s vast economic opportunities.

According to him, the summit was deliberately designed to go beyond speeches by producing concrete partnerships capable of delivering jobs, wealth creation and sustainable prosperity.

“This is not a mere talk shop. The money is there as practical evidence of our commitment. We are matching words with action. We are ready, we are stable, and the investment engagements we began in Brazil, China and Germany are already yielding results,” he stated.

The governor added that overwhelming interest forced organisers to close participant registration after it exceeded 4,000 prospective delegates, a development he described as evidence of growing investor confidence in Delta State.

Also speaking at the summit, WTO Director-General Dr. Ngozi Okonjo-Iweala identified Nigeria’s weak maintenance culture as one of the country’s greatest obstacles to sustainable development.

She lamented that despite huge investments in infrastructure over the years, poor maintenance had consistently reduced the lifespan and economic value of public assets, thereby increasing avoidable costs.

“We lack good maintenance culture in Nigeria,” she observed, urging governments to prioritise proper management of infrastructure if the country hopes to sustain long-term economic growth.

Describing Governor Oborevwori as an “action-oriented governor,” Okonjo-Iweala expressed confidence that Delta possesses the natural resources and strategic advantages to emerge as a global economic hub, particularly in gas development, agriculture, marine services and solid minerals.

She urged the Delta State Government to collaborate closely with the Federal Government in developing the proposed Delta Special Economic Zones in Koko and Kwale while positioning the state as a leading centre for marine investment, equipment manufacturing and ship repair.

Anambra State Governor Chukwuma Soludo also stressed the need to strengthen Nigeria’s domestic economy through increased patronage of locally manufactured products.

According to Soludo, the country’s industrialisation efforts would remain constrained unless Nigerians deliberately prioritise Made-in-Nigeria goods, arguing that stronger local consumption would stimulate production, create jobs and expand investments across the country.

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Business & Economy

NEITI Report : Senate gives Seplat , Network E & P , others , 48 hours ultimatum ….As Dubri oil defends $3.025million royalty and gas flare debts

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Senate President Godswill Akpabio

By George Mgbeleke

Foĺlowing the on-going efforts by the Senate to recover all unaccounted funds by revenue generating Agencies of government, the Red chamber on Tuesday through its Public Accounts Committee , gave Seplat Energy , Network E & P Nigeria Limited and two other oil companies , 48 hours to appear before it to answer queries raised against them in the 2021, 2022 and 2023 audit reports presented by Nigeria Extractive Industries Transparency Initiative ( NEITI) .

The two other oil companies given similar 48 hours ultimatum for appearance or risk invocation of legislative powers against them are All Grace Energy Limited and Aradel Energy Limited .

But Dubri Oil Company Limited that appeared before the committee , defended $’3.025million royalty and gas flare debts recorded against it in the audit report .

48 hours ultimatum against the affected four oil companies followed resolution adopted to that effect by the Senator Ibrahim Hassan Dankwabo led committee in line with displeasures expressed by some of its members .

First to call for sanction against the erring oil companies , was Senator Abdul Ningi ( Bauchi Central ) who described letter written by Network E & P Nigeria Limited to the committee that Nigerian Upstream Petroleum Regulatory Commission ( NUPRC) is the regulatory body it reports to , as disturbing and provocative .

The Senate according to him as provided for in sections 88 and 89 of the 1999 constitution, can invite any body or agency .

” The Senate and by extension , the National Assembly, is the custodian of Nigeria law that has power to invite anybody or agency for explanations on issues raised against them “, he said .

In supporting Ningi , Senator Shehu Kaka Lawan ( Borno Central ) , called for invocation of constitutional powers against management of the affected agencies which made the Chairman to issue 48 hours ultimatum for appearance against Managing Director of Network E & P Nigeria Limited .

” Having failed to honour invitation of this committee two consecutive times , the Managing Director of Network E & P Nigeria Limited should appear before us unfailingly on Thursday this week or risk full invocation of legislative powers against him”, he said .

Similar ultimatums were also issued against Managing Directors of All Grace Energy Limited , Aradel Energy Limited and Seplat Energy when when their absence was noted by the committee.

But Dubri Oil that appeared , rejected $3.025million royalty and gas flare debts recorded against it .

NEITI in the report alleged that as submitted by NUPRC in 2025 that Dubri Oil owes $3.025million debt which include $2.378million debt for gas flare and $646, 605.55 for oil production

The query was however faulted by representative of Dubri Oil , Soyode Olusoji Clement who said the report was compiled when the oil company had reconciliation issue with NUPRC .

The reconciliation problem between Dubri oil and NUPRC according to him , has however been resolved without any debt hanging on Dubri oil .

He presented documents to that effect to the committee which according to the committee, would be studied critically before issuance of clean bill of health .

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Business & Economy

Tinubu’s livestock reforms will end subsistence farming, create jobs –Jega

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By Our Correspondent

The Special Adviser to the President on Livestock Development, Prof. Attahiru M. Jega, has said the Presidential Livestock Reforms Agenda of President Bola Ahmed Tinubu is designed to end subsistence livestock farming and build a commercially viable sector that will create jobs and strengthen food security.

Jega, who is also Co-Chair of the Presidential Livestock Reforms Implementation Committee, stated this in a goodwill message delivered at the 9th All Africa Conference on Animal Agriculture in Abuja on behalf of the Presidency.

The conference themed, “Repositioning Animal Agriculture for Africa’s Food Security and Global Competitiveness,” brought together stakeholders across the continent.

Jega, who was represented by Prof. D. J. U. Kalla, said Africa cannot achieve sustainable food security, improved nutrition and inclusive economic growth without transforming animal agriculture.

“Livestock is deeply woven into Africa’s culture, heritage and economy. Beyond food, cattle, sheep, goats, camels and poultry represent wealth, livelihoods, resilience and social capital for millions of African families,” he stated.

He noted that the sector generates employment and income across breeding, feed, animal health, processing, trade and value addition, describing livestock as “not a peripheral component of African agriculture, but a prime mover of inclusive economic transformation.”

“Our ambition is to unlock the enormous economic potential—the goldmine—of the livestock sector and build a productive, competitive, climate-resilient and commercially viable industry that creates jobs, strengthens food and nutrition security, and drives rural prosperity,” he said.

Jega stressed that the country must move “from subsistence to productivity, from fragmentation to value-chain integration, and from potential to investment and competitiveness.”

He listed key areas for investment to include genetics, animal health, feed and forage, water, research and innovation, infrastructure, value addition and markets.

The presidential aide urged the conference to move “beyond dialogue to action, partnerships and measurable commitments” that translate policy into impact.

“Africa has the livestock resources. Our task is to convert this biological wealth into nutritious food, decent jobs, resilient livelihoods and globally competitive enterprises. Africa must feed Africa—and animal agriculture must be at the fulcrum of that transformation,” Jega concluded.

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Business & Economy

Women,s Wing Of ABER Hails Dr. Piriye Kiyaramo As Visionary Leading Africa,s Blue Economy Transformation

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By David Owei

“The Captain of the Blue Future” Commends Inclusive Leadership Ahead of the forthcoming Africa Blue Economy Roundtable’s Women Forum

Younde, Cameroon – The Head of the Women’s Wing of Africa Blue Economy Roundtable – ABER, Barr. Sophie De Sylvie Djoufa Tiemagni, popularly known as ‘The Captain of the Blue Future’, has paid glowing tribute to Dr. Piriye Kiyaramo, Convener and Chief Executive Officer of ABER, describing him as a visionary leader shaping the future of Africa’s Blue Economy.

In a statement issued from the ABER Women’s Wing Secretariat, Duoula – Cameroon, Barr. Djoufa Tiemagni said Dr. Kiyaramo embodies a new generation of leadership focused on action, inclusion, and impact.

“There are leaders who manage, and there are leaders who inspire, transform, and unite. Dr. Piriye Kiyaramo unquestionably belongs to the latter category. In many ways, he is the human embodiment of leadership,” she stated.

Barr. Djoufa Tiemagni noted that under Dr. Kiyaramo’s leadership, ABER has prioritized competence over connections in its appointments of regional leaders, an International Ambassador, the Head of the Women’s Wing, and in recognizing outstanding women through prestigious awards.

“Through these appointments, he has demonstrated that inclusion is not a slogan but a fundamental value at the heart of his vision. He has made inclusion, merit, and excellence the pillars of his leadership,” she said.

She added that this approach, guided by competence, commitment, and contribution to the blue economy, has enabled ABER to build a united community of stakeholders with a shared ambition: to make the blue economy a powerful engine for Africa’s development.

The tribute comes on the heels of the 3rd Africa Blue Economy Week, held in Luanda, Angola from 22 to 25 July 2026, where the central theme was transforming strategies into tangible results for African people.

“Since its establishment, ABER has worked tirelessly to build partnerships, promote African talent, strengthen women’s leadership, and accelerate the implementation of high-impact initiatives,” Barr. Djoufa Tiemagni said. “The time has come to move from strategy to action and make the blue economy a strategic driver of economic transformation, sovereignty, job creation, innovation, and Africa’s emergence.”

Concluding her tribute, Barr. Djoufa Tiemagni said Dr. Kiyaramo’s leadership reminds Africa that no sustainable transformation can be achieved without vision, inclusion, and action.

“Today, that vision has become a reality. Yes, ‘together we can’. And we believe it wholeheartedly. Together, we can. Together, we will. The future of Africa’s Blue Economy is bright.”

The Africa Blue Economy Roundtable – ABER, convened by Dr. Piriye Kiyaramo, is a pan-African platform dedicated to advancing policy dialogue, investment, and partnerships for the sustainable development of Africa’s ocean and water resources. ABER works to position the blue economy as a key driver of jobs, food security, climate resilience, and inclusive growth across the continent.

The Women’s Wing of ABER is committed to amplifying women’s leadership, participation, and impact in maritime governance, fisheries, aquaculture, shipping, and all blue economy sectors.

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