Economic Summit: Future generations’ prosperity is our goal – Oborevwori

We cannot continue to depend only on oil. We must lay a solid foundation outside the oil sector for this generation and those coming after us, says Oborevwori

Delta State Governor, Rt. Hon. Sheriff Oborevwori, has declared that his administration’s drive to diversify the state’s economy is aimed at securing prosperity of future generations.

Speaking while receiving a delegation of Brazilian and Malaysian investors who paid him a courtesy visit after inspecting key investment sites across the state at the close of the Delta State Economic and Investment Summit in Asaba, the governor reaffirmed his administration’s commitment to creating an enabling environment for investors to invest.

Oborevwori said the summit was designed to showcase Delta’s vast economic potential and reassure local and foreign investors that the state is ready for business.

“We cannot continue to depend only on oil. We must lay a solid foundation outside the oil sector for this generation and those coming after us. That is why this economic summit is very important,” he said.

The governor commended the foreign delegations for participating fully in the three-day summit and undertaking inspections of strategic investment locations, including the Kwale Special Economic Zone, describing their sustained engagement as evidence of confidence in the state’s investment prospects.

He said his administration had continued to invest heavily in roads, bridges, healthcare, education and other critical infrastructure to improve the ease of doing business, assuring investors of adequate security and attractive returns on investment.

“We are ready for business. We are providing the infrastructure investors require, including good roads and a peaceful environment. Nobody wants to invest where there is no return, and Delta offers strong investment opportunities,” Oborevwori said.

Leader of the Brazilian delegation, Roberto Fonseca, said the investors were leaving Delta with renewed confidence after spending four days engaging government officials, business leaders and inspecting investment sites.

According to him, the delegation held extensive meetings and identified several viable investment opportunities, expressing optimism that the engagements would soon translate into concrete projects.

Fonseca announced that the delegation would return to Delta in October with more investors to implement Memoranda of Understanding, conclude feasibility studies and finalise joint venture agreements.

He identified cassava processing, a 100-megawatt thermal power project within the Kwale Special Economic Zone and integrated cattle ranching as the three most advanced investment initiatives currently under discussion.

He said the proposed cassava processing project would significantly increase value addition by producing industrial and consumer products, including food, pharmaceuticals, cosmetics, plastics and soap, while also improving productivity through the transfer of Brazilian agricultural technology to local farmers.

Managing Director of the Brazilian Export and Investment Promotion Agency, Juliano Desaro, thanked the Delta State Government for its hospitality, describing the visit as enriching and expressing confidence that Brazilian companies would take advantage of the investment opportunities available in the state.

Desaro said the agency would continue promoting stronger economic cooperation between Brazil and Delta State by encouraging more Brazilian businesses to invest in the state.

Also speaking, the Malaysian High Commissioner to Nigeria, Aiyub Omar, described his first visit to Delta State as impressive, noting the rapid pace of development and abundant opportunities, particularly in agriculture.

He said Malaysia was interested in partnering with Delta State on large-scale agricultural projects, including the proposed development of about 12,000 acres of farmland, drawing on Malaysia’s extensive expertise in plantation agriculture and export-oriented agribusiness.

The envoy expressed optimism that deeper collaboration between Malaysia and Delta State would boost agricultural productivity, create jobs and strengthen economic ties between Malaysia and Delta State.