Business
Delta unveils $100m fund to attract investors
…Provides N137.8bn fund to de-risk private investments
..Vows speedy execution of investment agreements
By Babajide Komolafe, Economy Editor & Egufe Yafugborhi, Ochuko Akuopha
ASABA — Delta State Government has announced a $100 million, equivalent to N137.8 billion, as a Viability Gap Fund to de-risk private sector investments, pledging the speedy execution of agreements reached at the Delta State Economic and Investment Summit.
Governor Sheriff Oborevwori announced the fund yesterday, at the Summit, saying the initiative underscores his administration’s determination to translate investment commitments into tangible projects that would accelerate industrialisation and economic growth.
He said: “The government has set aside $100 million, approximately N137. 8 billion as Viability Gap Funding to de-risk new investments in the state.”
According to him, “This is a practical demonstration of our total commitment to ensuring that the agreements reached at this summit are executed without delay. As stated at the beginning of this speech, this summit is not a talk show; we are matching words with action.”
The Governor added: “It is my earnest expectation that this marks the beginning of enduring strategic partnerships that will galvanize the massive industrialization of our state.”
Reiterating his administration’s commitment to creating a business-friendly environment, Oborevwori said the summit was convened to reposition Delta as one of Nigeria’s most competitive investment destinations.
He declared: “This summit is not another talk shop; it showcases our vision and strong will to reposition the State economy and enhance its competitiveness in business. Through this summit, we hope to connect ideas with capital, forge strategic partnerships, and maximize our comparative advantages as a state to build an enduring legacy of wealth and prosperity.”
He assured investors that Delta remained financially stable and committed to prudent fiscal management.
According to him, “Despite the huge investments in improving public infrastructure, we have not borrowed a kobo from any bank, underscoring our commitment to fiscal discipline and prudent financial management. What this means is that prospective investors are coming to a state that is financially stable and provides an enabling environment for them to operate without let or hindrance.”
Highlighting the state’s investment potential, Oborevwori said: “Our ease of doing business incentives are top-notch, ensuring that prospective investors have the conducive atmosphere to operate seamlessly and profitably.”
He added that investors enjoy “waivers of payment of tenement rates, fees, levies and other charges for up to five years after the commencement of business.”
The governor further disclosed that over 12,000 hectares of farmland had been earmarked for agricultural development, while Delta’s 163-kilometre coastline offers vast opportunities in the blue economy.
He urged local and foreign investors to take advantage of the opportunities, stressing that his administration was committed to building “a modern economy that is strongly diversified, can withstand external shocks, create jobs, accelerate economic development and achieve sustainable development.”
