BREAKING: Delta sets aside $100m to de-risk investments, targets economic diversification — Oborevwori

Politics

ASABA, Nigeria (NPA) — Delta State Governor, Rt. Hon. Sheriff Oborevwori, has announced the creation of a 100 million U.S. dollar investment de-risking fund to attract local and foreign investors as part of the state’s drive to diversify its economy beyond oil.

The governor made the announcement on Monday at the ongoing Delta State Economic and Investment Summit 2026 in Asaba, where government officials, local and foreign investors and business leaders gathered to explore investment opportunities across key sectors of the state’s economy.

Speaking at the summit, Oborevwori said the event marked a transition from investment promotion to concrete action, following the state’s recent investment engagements in countries including China and Brazil.

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According to him, Delta State is positioning itself as a preferred investment destination through a private sector-led development model anchored on fiscal discipline, policy consistency and an enabling business environment.

“Our administration believes in a development model that is private sector-led. We are seeking strategic partnerships with investors from across the world to maximise Delta’s economic potential, create jobs and accelerate sustainable development,” the governor said.

He said the state government had implemented several reforms aimed at improving the ease of doing business, including the establishment of the Delta State Ease of Doing Business Council.

Oborevwori explained that the reforms are designed to reduce bureaucratic bottlenecks, strengthen investor confidence and create a more competitive investment climate.

He disclosed that qualifying investors could also benefit from tax incentives, including tax relief of up to five years after the commencement of operations.

Highlighting investment opportunities, the governor said Delta State offers significant potential in agriculture, manufacturing, energy, technology and agro-processing.

He identified cassava and palm oil value chains as priority sectors, adding that over 12 hectares of land had already been earmarked for agricultural development by prospective investors.

Oborevwori also said the state possesses abundant natural gas reserves that provide a strong foundation for industrialisation and economic diversification.

He noted that opportunities also exist in biomass, waste-to-energy projects, renewable energy technologies and the local manufacturing and assembly of energy solutions.

The governor attributed the state’s growing economic stability to prudent fiscal management, transparency and responsible allocation of public resources.

“We have not borrowed a kobo from any bank, and we are not intending to borrow. The money is there,” he said.

According to him, the state’s financial position provides confidence for prospective investors seeking stable and financially viable investment destinations.

Oborevwori further highlighted improvements in the state’s security architecture, noting that sustained investment in security had strengthened collaboration between security agencies and local communities.

He said Delta was recognised as one of Nigeria’s safest oil-producing states in 2024, adding that maintaining peace and security remains central to attracting long-term investments.

Announcing the new investment initiative, the governor said the state had set aside 100 million U.S. dollars specifically to de-risk new investments and encourage greater private sector participation.

“I am pleased to announce that the government has set aside 100 million dollars to de-risk new investment in the state. We are not going to borrow. The money is there,” he said.

He reaffirmed the state’s commitment to building a diversified economy driven by strategic partnerships, private capital and sustainable investment across multiple sectors.