ASABA/Nigeria: Stakeholders from Nigeria’s South-South geopolitical zone converged recently in Asaba, Delta State, for a high-level dialogue focused on economic reform, diversification and inclusive growth, as the region intensifies efforts to reposition itself beyond decades of dependence on crude oil revenues.
In a statement issued at the end of the dialogue and signed by Ben Anthony Edejor, Chief Executive Officer of Vijon International Media Ltd, participants drawn from Akwa Ibom, Bayelsa, Cross River, Delta, Edo and Rivers states stressed the urgent need for stronger regional cooperation and deeper partnerships among government, the private sector and civil society to drive sustainable transformation. They agreed that deliberate support for local industries and small and medium-scale enterprises would unlock value across supply chains and generate large-scale employment.
Long regarded as the backbone of Nigeria’s petroleum economy, the South-South region continues to grapple with entrenched challenges, including youth unemployment, widespread poverty, infrastructure deficits and environmental degradation, despite decades of oil-driven national revenue. Stakeholders noted that these realities underscore the limits of a mono-product economy and the urgency of adopting a more diversified and inclusive development model.
Historically, the region’s economy thrived on agriculture, trade and maritime activities before the advent of crude oil dramatically altered its economic structure. While oil wealth has boosted national earnings, development outcomes across the South-South have remained uneven, fuelling renewed calls for a balanced, resilient and people-centred economic framework.
At the centre of the Asaba dialogue were discussions on economic liberalisation aimed at reducing excessive government intervention, promoting private sector participation and opening markets to domestic and foreign investment. However, analysts and policymakers at the forum stressed that liberalisation must be deliberately inclusive to deliver tangible benefits to the wider population.
Expanding access to quality education, finance and decent employment opportunities for women, young people and other marginalised groups was identified as critical to long-term stability, social cohesion and shared prosperity in the region.
Economic diversification also featured prominently, with stakeholders identifying agriculture, manufacturing, aquaculture, tourism, information and communications technology, and renewable energy as viable drivers of sustainable growth beyond oil. Experts noted that unlocking these sectors would require sustained investment in critical infrastructure, transparent and predictable regulatory frameworks, digital innovation hubs, skills development and environmentally responsible practices.
Participants further emphasised that regional collaboration and coordinated policy action would be essential to supporting local industries, strengthening value chains and creating jobs at scale across the six states.
As Nigeria intensifies efforts to reduce its reliance on crude oil, stakeholders at the dialogue expressed optimism that the South-South could emerge as a hub for trade, innovation and inclusive growth, where economic opportunities extend beyond a narrow elite to the broader population.
The dialogue, organised by Vijon International Media Ltd, was aimed at shaping forward-looking economic policies that promote job creation, strengthen livelihoods and position the South-South region as a catalyst for Nigeria’s long-term stability and prosperity.
