Rita Enemuru, Reporting
ASABA — Vice President Kashim Shettima has declared that the Federal Government will continue to support states driving economic reforms and investment promotion, 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 and development partners, including Governor Chukwuma Soludo of Anambra State, World Trade Organization Director-General Dr Ngozi Okonjo-Iweala, NDDC Managing Director Samuel Ogbuku, and Tantita Security Services Managing Director Kestin Pondi.
‘A Race We Must Welcome’
Shettima said 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 – advantages that would only become economically valuable if properly organised and converted into productive investments.
$100 Million Support Fund Announced
In a dramatic moment that drew a standing ovation from participants, Governor Oborevwori announced a $100 million (approximately ₦133 billion) Investment Support Fund, designed as a Viability Gap Fund to reduce investment risks and encourage both domestic and foreign investors to establish businesses in the state.
“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.
Oborevwori explained that the summit, themed “Unlocking Delta’s Economic Potentials,” was conceived following investment missions to China, Brazil and Germany in July 2025.
“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.
Fiscal Discipline Pledged
The governor 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 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.
Okonjo-Iweala Laments Poor Maintenance Culture
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.
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.
Soludo Calls for Patronage of Local Products
Anambra State Governor Chukwuma Soludo 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.
