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Rivers More Vibrant Place For Investment-Fubara …Earmarks $10m To Boost Agric Value Chain …•Signs PPP Pact For $10m MFC, Carbon Capture Project
Rivers State Governor, Sir Siminalayi Fubara, has said that a more vibrant investment-friendly environment has been created to reassure investors of requisite return on their investments.
The Governor maintained that his administration is taking measures to ensure that those numerous production factories that shut down operations in the State returned because of the renewed commitment to re-industralise the State.
Governor Fubara gave the assurance at the opening ceremony of the two-day Rivers State Economic and Investment Summit (RSEIS), with the theme: “Rivers Emerge: Advancing Pathways to Economic Growth and Sustainability,” which held at Dr Obi Wali International Conference Centre in Port Harcourt on Wednesday.
The Governor insisted that the various measures taken were to make Rivers to emerge as the premiere investment destination for all categories of investors.
Governor Fubara stated: “We have already implemented certain policy initiatives and reforms, including the prompt allocation and issuance of land titles and certificates of occupancy to prospective investors and a moratorium on State taxes and levies on new businesses.
“We are also working on the harmonization of State and Local Government taxes to eliminate double taxation and the imposition of multiple levies on investors.
“Two weeks ago, we launched the N4billion matching fund loan scheme with the Bank of Industry Limited for small, micro, and medium-scale businesses to drive financial inclusion and enhance the growth and development of these businesses to grow our economy, create jobs and wealth for our people.
“We have signed a development agreement with TAF Nigeria Limited for the construction of 20,000 mixed houses in the Greater Port Harcourt City. We signed another development pact with GOSH Nigeria Limited for the construction of an international automobile spare parts trading and commercial market,” he said.
Governor Fubara further said: “The State Government provided hundreds of hectares of land as its equity and work has since started at both sites. Apache Aluminium LLC of America has started the acquisition of land to establish a multi-billion-naira aluminium rolling mill (plant) in the Ogoni axis of Rivers State.
“We have opened discussions with Imagine Adama Agricultural and Technology of Israel to support the State in developing our huge agricultural potential, including reviving abandoned agricultural projects and infrastructures such as the Rivers Songhai Farm, the School-to-Land farms, fish farms, feed mills, oil palm estates and poultry farms across the State. We have earmarked about $10million for this project this fiscal year.
“Last week, the State Executive Council approved the proposal by Rainbow Heritage Group to build the New Port City in the State on about 1,000 hectares of land in collaboration with the Greater Port Harcourt City Development Authority.
“We have also concluded arrangements for the signing of a Memorandum of Understanding (MoU) with Planet One Holding Limited of Dubai for a $10million Mangrove Forests Conservation and Carbon Capture Project under the Private Public Partnership (PPP) arrangement,” he added.
Governor Fubara emphasised that “Rivers State provides several investment opportunities across diverse sectors of our economy, including oil and gas, agriculture and agro-processing.”
The State also prides itself, he said, in manufacturing, hospitality and tourism, education, ICT, and healthcare, infrastructure development, glass products and garments production, and power generation and transmission, among many others.
Governor Fubara also said that with over 40 per cent of fertile cultivable landmass, Rivers State has the potential to make a significant contribution to national food security with commercial investments in mechanised agriculture and the agro-processing industrial value chains.
“Several state-owned but moribund companies, farmlands, and business infrastructure, including oil palm estates, rubber plantations, poultry, and fish farms are available for interested private investors to take over and revitalize,” the Governor added.
Governor Fubara lamented that for years, the Rivers State Government depended more on allocations from the Federation Accounts to fund its expenditures because tax revenues had remained low due to poor investments and economic growth.
The Governor stated that, “it is for this reason, that there is a resolve to build a resilient, robust, and diversified economy that will hold the key to sustainable peace, security and progress of our State and the spiritual, social, and physical well-being of our people.
“We, therefore, commit to the re-industrialisation of Rivers State in partnership with the informal and organised private sectors through necessary policies, legal, and other support measures, and systems.
“This was why we approved the Rivers State Economic and Investment Summit 2024 as the first of several measures to unveil the economic potential of the State to both local and foreign investors and markets.
“Against this background, I feel very optimistic that Rivers State will emerge from this summit, and position itself as a premier investment destination, offering boundless economic opportunities for domestic and global investors,” he stressed.
Governor Fubara explained efforts made to create a robust climate of ease of doing business in the State, including harmonising and reducing double taxation, which wear down businesses.
He also said that an Investment Promotion Agency has been established that will serve as a one-stop-shop to coordinate all investment activities.
“Furthermore, we have also approved the establishment of the Rivers State Investment Promotion Agency to provide one-stop-shop investment services and facilitation to investors in the State.
“In the first year of our administration, we received an appreciable number of expressions of interest from local and foreign investors to invest in diverse sectors of our economy, including agriculture, real estate, power generation, and manufacturing,” the Governor added.
Chairman of the occasion and former Governor of Cross River State, Mr Donald Duke, said the summit signalled a rebirth of commitment to correcting previous investment errors and to build enduring foundation upon which to anchor implementation of deliberate policies to moving Rivers State forward.
Mr Duke said Nigerian Government should stop the mere celebration of the large population size of the country, and begin to ensure that its citizens are trained to become productive and contribute to the nation’s economy in order to attain the zenith of economic growth for the country.
He advised the Rivers State Government, and indeed, all sub-nationals to look into harnessing their areas of comparative advantage so that they can strengthen those areas to become economically buoyant.
Delivering his goodwill message, Bayelsa State Governor, Senator Douye Diri, represented by the Secretary to State Government, Mr Nimibofa Ayawei, said they were delighted to be part of the summit geared towards finding a pathway to achieving economic prosperity of Rivers State, and pledged the continued partnership that will expand the investment frontiers of both states.
Rivers State Head of Service, Dr (Mrs) Inyingi Brown, has called on rural communities in the State to embrace the Rural Access and Agricultural marketing project (RAAMP) with a view to improving their living conditions.
This follows the ongoing sensitization campaign by the State Project Implementation Unit (SPIU) visits to Degema, Abonnema, Afam headquarters of Degema, Akuku Toru and Oyigbo Etche and Omuma local government areas respectively.
Dr Brown who was represented by the Deputy Director, Special Duties in her office, Mrs Dein Akpanah, said RAAMP was initiated by the Federal Government and World Bank to economically empower rural dwellers.s
She said the World Bank understands the plights of rural farmers and traders in the State, and therefore came up with the programme to address them.
According to her, RAAMP will improve the conditions of farmers, traders and fishermen, and therefore, behoves on every rural communities in the State to embrace the programme.
The Head of Service also said the programme would support the youths to be gainfully employed while bridges and roads will be built to link farms and fishing settlements.
Also speaking, the State project coordinator, Mr Joshua Kpakol, said the programme has the potential of creating millionaires among farmers and fishermen in the State.
Kpakol who was represented by Engr. Sam Tombari, said RAAMP would help farmers and fishermen to preserve their produce.
According to him, the project will build cold rooms and Silos for preservation of crops and fishes while access roads will also be created to link farmers and fishermen to the market.
He, however, warned them against any act that will lead to the suspension of the projects by the World Bank.
Kpakol particularly warned against acts such as kidnapping, marching ground, gender based violence and child labour, adding that such acts if they occur may lead to the cancellation of the project by the World Bank.
During the visit to Oyigbo local government area, Mr Joshua Kpakol, said the team was there to let them know how they will benefit from the Raamp.
The coordinator who was personally at Oyigbo said the World Bank introduced the project to check food insecurity in the State.
He said already 19 states in Nigeria are already benefitting from the project and called on them to embrace the project.
Meanwhile, stakeholders in the three local government areas have commended the World Bank for including their areas in the project.
They, however, complained over the incessant attacks by pirates on their waterways.
At Degema, King Agolia of Ke kingdom said land was a major problem in the kingdom.
King Agolia represented by High Chief Alpheus Damiebi said many indigenes of the kingdom are willing to go into farming but are handicapped by lack of land.
Also at Degema, the representative of the Omu Onyam Ekeim of Usokun Degema kingdom, Osoabo Isaac, said Degema has embraced the programme but needed more information on the implementation of the programme.
Similarly, while High Chief Precious Abadi advised that the project should not be narrowed to only crop farming, a community women leader, Mrs Orikinge Eremabo Otto, called for the construction of cold rooms in all fishing settlements in the area.
At Abonnema, Mr Diamond Kio linked the problem of the area to incessant piracy along waterways.
He also expressed fears over the possibility of the project being hijacked by politicians.
Also at Abonnema, a stakeholder, Ikiriko Kelvin, called on the World Bank to design an agricultural project that will suit the riverine environment, while at Oyigbo, HRH Eze Boniface Akawo expressed satisfaction with the project.
John Bibor
The political mudslinging between the Senate leadership and Senator Natasha Akpoti-Uduaghan continued yesterday as the Senate named Senator Aniekan Bassey as the new Chairman of the Committee on Diaspora and Non-Governmental Organisations.
Senate President, Godswill Akpabio, announced the appointment during yesterday’s plenary, confirming Bassey’s replacement of Senator Natasha Akpoti-Uduaghan, who is currently on suspension.
Akpoti-Uduaghan was reassigned to the Diaspora and NGOs Committee in February after she was removed as Chair of the Senate Committee on Local Content during a minor reshuffle.
Bassey is the senator representing Akwa Ibom North-East Senatorial District.
Although no reason was given for her removal yesterday, the change is believed to be connected to her unresolved suspension.
In May, Justice Binta Nyako of the Federal High Court ordered her reinstatement and directed her to tender an apology to the Senate.
However, the Senate has insisted it has not received a certified true copy of the court judgment.
Akpoti-Uduaghan who represents Kogi Central, has yet to resume her legislative duties despite a recent court ruling that voided her suspension.
In a televised interview on Tuesday, Akpoti-Uduaghan said she was awaiting the Certified True Copy of the judgment before officially returning to plenary, citing legal advice and respect for institutional process.
Although the Federal High Court described her suspension as “excessive and unconstitutional”, a legal opinion dated July 5 and attributed to the Senate’s counsel, Paul Daudu (SAN), argued that the ruling lacked any binding directive to enforce her reinstatement.
Akpoti-Uduaghan, one of only three female senators in the current assembly, said the continued delay in allowing her return was not only a denial of her mandate but also a blow to democratic representation.
“By keeping me out of the chambers, the Senate is not just silencing Kogi Central, it’s denying Nigerian women and children representation. We are only three female senators now, down from eight,” she said.