By Mokobia Rita
ASABA/Nigeria: Foreign investors from Brazil and Malaysia have identified agriculture, energy and industrial development as priority sectors for potential investment in Delta State, with the Brazilian delegation announcing plans to return in October to advance feasibility studies, joint venture agreements and memoranda of understanding.
The announcement followed inspections of strategic investment locations across the state after the three-day Delta State Economic and Investment Summit in Asaba, where the investors met Governor Sheriff Oborevwori to review opportunities presented during the event.
While no investment agreements were signed during the visit, members of the delegations said discussions had progressed sufficiently to justify further engagements, particularly on cassava processing, power generation and commercial agriculture.
Governor Oborevwori said the state was pursuing economic diversification to reduce dependence on oil revenue, adding that his administration would continue investing in infrastructure and maintaining policies aimed at attracting private investment.
He said the government had expanded investment in roads, bridges, healthcare and education to improve the business environment, while assuring prospective investors of security and an enabling environment for sustainable investment.
Leader of the Brazilian delegation, Roberto Fonseca, said the team was leaving Delta encouraged by engagements with government officials and inspections of investment sites. He disclosed that the delegation intends to return in October with additional investors to conclude feasibility studies, implement memoranda of understanding and finalise joint venture arrangements.
Fonseca identified three projects currently receiving the greatest attention: a cassava processing facility, a proposed 100-megawatt thermal power plant within the Kwale Special Economic Zone and an integrated cattle ranching initiative.
According to him, the cassava project could expand value addition by producing food products, pharmaceuticals, cosmetics, plastics and soap while introducing Brazilian agricultural technology to improve local productivity.
Managing Director of the Brazilian Export and Investment Promotion Agency, Juliano Desaro, said the visit had reinforced confidence in Delta’s investment potential and pledged continued efforts to encourage Brazilian businesses to explore opportunities in the state.
Malaysian High Commissioner to Nigeria, Aiyub Omar, described his first visit to Delta as productive and said Malaysia was interested in collaborating with the state on large-scale agricultural projects, including a proposed 12,000-acre farming initiative that would leverage Malaysian expertise in plantation agriculture and export-oriented agribusiness.
