Vice President Kashim Shettima has reaffirmed the Federal Government’s commitment to supporting credible and viable investments that drive economic growth across Nigeria.
Speaking on Monday at the Delta Economic and Investment Summit in Asaba, Shettima said the Federal Government remains ready to provide the necessary support for investments capable of creating jobs, stimulating growth and boosting national development.
The summit was organised to strengthen investor confidence, promote strategic partnerships and attract both local and foreign direct investment into Delta State.
Shettima said the increasing number of investment summits organised by states reflects healthy competition among sub-national governments to attract capital and accelerate development.
According to him, improved financial allocations to states have provided sub-national governments with a stronger foundation to pursue investment-driven growth and economic transformation.
Governor Sheriff Oborevwori announced that the Delta State Government has established a $100 million viability gap fund to reduce investment risks and encourage private sector participation.
“Mr. Vice President, as I conclude my address, I am pleased to announce that the government has set aside 100 million dollars, approximately 133,800,000,000, as viability gap funding to de-risk new investments in the state,” the governor said.
Oborevwori also disclosed that the state has designated more than 12,000 hectares of farmland for agricultural development, creating opportunities for investors across key agricultural value chains.
“Investment opportunities abound in the value chain production of cassava, oil palm, rice, potato, and other cash crops. It is my pleasure to announce that in preparation for this summit, over 12,000 hectares of farmland have been marked for agricultural development for prospective investors.
“And in addition, the entire state has a coastline of one to three kilometres suitable for the development of a thriving marine economy,” he said.
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