By Rita Mokobia
ASABA/Nigeria: Delta State’s drive to reposition itself as one of Nigeria’s leading investment destinations received a major boost on Monday as the Federal Government, global economic leaders and private sector investors rallied support for the state’s industrialisation agenda at the Delta State Economic and Investment Summit 2026 in Asaba.
The endorsement came as Vice President Kashim Shettima, representing President Bola Tinubu, assured investors that the Federal Government’s ongoing economic reforms have restored confidence in Nigeria’s economy and created a more predictable environment for long-term investments. He urged both local and international investors to take advantage of the country’s improving economic outlook, describing Delta as one of the states strategically positioned to benefit from the reforms.
Shettima said recent fiscal and monetary policies had strengthened macroeconomic stability, improved Nigeria’s global credit standing and enhanced investor confidence, pointing to positive assessments by international rating agencies as evidence that the country was regaining credibility in the global investment space.
The Vice President said Delta’s strategic location, extensive coastline, natural gas resources, seaports, refining assets, agricultural potential, solid minerals and expanding blue economy place it in a strong position to become a major industrial and commercial hub.
He also reaffirmed the Federal Government’s commitment to working with state governments to remove barriers to investment, expand private sector participation and stimulate economic growth through productive partnerships.
The summit also showcased Delta State’s latest incentives aimed at attracting strategic investments, with Governor Sheriff Oborevwori unveiling a 100 million dollars Viability Gap Funding (VGF) initiative to reduce investment risks and accelerate the delivery of major private sector projects.
According to the governor, the initiative forms part of a broader economic strategy designed to move the state beyond investment promotion to actual project execution, industrial expansion and sustainable job creation.
Oborevwori said the programme followed investment missions undertaken by the state to China and Brazil in 2025 and reflects the administration’s determination to build a diversified economy driven by agriculture, manufacturing, energy, logistics, technology and the blue economy.
He disclosed that Delta has introduced a number of investor-friendly reforms, including tax incentives, waivers on selected levies for up to five years and the establishment of an Ease of Doing Business Council to simplify regulatory procedures.
The governor added that over 12,000 hectares of land have been designated for commercial agriculture, while the state’s 163-kilometre Atlantic coastline offers significant opportunities in maritime transport, fisheries, tourism and other blue economy investments.
He further assured prospective investors that Delta remains financially stable, secure and debt-free under his administration, noting that the Federal Ministry of Petroleum Resources recognised the state as Nigeria’s Safest State for Oil and Gas Investments in 2024.
Delivering the keynote address, Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, said Delta possesses the natural and economic advantages required to emerge as one of Nigeria’s leading industrial centres if it continues to leverage opportunities created by the African Continental Free Trade Area (AfCFTA) and ongoing global supply chain shifts.
She encouraged the state to deepen investments in the Delta Special Economic Zone, agro-processing, marine logistics, oil and gas value addition, digital infrastructure and emerging technologies, particularly artificial intelligence, to strengthen competitiveness and prepare young people for future industries.
Adding his voice, Anambra State Governor, Prof. Charles Soludo, said Nigeria’s macroeconomic environment has become increasingly stable following recent economic reforms and urged sub-national governments to sustain regional economic collaboration capable of attracting greater investments and accelerating development.
Pan-African scholar Prof. Patrick Lumumba challenged African governments, businesses and investors to demonstrate greater confidence in the continent’s economic potential, arguing that stronger intra-African investments remain critical to industrialisation, employment generation and long-term economic independence.
Also speaking, Minister of Finance, Prof. Taiwo Oyedele, said the Federal Government’s fiscal reforms have significantly increased revenues available to governments at all levels, while describing Delta as one of the country’s most promising investment destinations with huge opportunities in energy, maritime services and the blue economy.
Beyond policy commitments, the summit also produced concrete expressions of investor confidence.
Chairman of Transcorp Power Holdings, Tony Elumelu, pledged his company’s readiness to partner with the Delta State Government to improve electricity supply for industries and households, describing reliable power as critical to economic expansion.
Similarly, Mosra Energy Chief Executive Officer, Ramos Olukayode, disclosed that Delta possesses over 200 million tonnes of coal deposits across Obomkpa, Ukunzu and neighbouring communities, while UTM Gas Limited Chief Executive Officer, Julius Rone, revealed that the state’s ₦42 billion investment for an eight per cent equity stake in the company acquired in 2022 has appreciated to about ₦200 billion.
Rone further announced that UTM Gas will relocate its corporate headquarters to Warri when commercial operations commence in 2030, a development expected to strengthen Delta’s growing profile as a preferred destination for energy and industrial investments.
The summit brought together senior government officials, development partners, global economic experts, investors, diplomats and business leaders to explore opportunities for expanding investment, diversifying Delta’s economy and strengthening the state’s position as a competitive investment destination in Nigeria and across Africa.
