Port Harcourt, May 22, 2024 – Siminilayi Fubara, the Rivers State Governor, has called on local and foreign investors to take advantage of numerous economic opportunities in the state.
He made the call in Port Harcourt on Wednesday at the Rivers State Investment Summit 2024 where he assured investors that the state was safe and ready to do business in spite of the ongoing political crisis.
The governor said his administration believed in the growth and development of Rivers first and ahead of any political rivalry.
“This event we tagged “Rivers Emerge” is not a mistake because we believe it is important to think about the state first. The development of this state is the most important thing.
“It is not the political rivalry. After politics, we must have a base and that base is our state. That base is when there is development in the state. If a state is not viable, I don’t think there is any need for struggle.
“Historically, Rivers State, especially Port Harcourt, was an established commercial centre in Nigeria. The Trans-Amadi Industrial Layout hosted several thriving commercial and industrial concerns that created income, jobs, and prosperity for our State and people.
“Sadly, all that is now history as most of the industrial ventures in that estate have either closed shop or become moribund. The industrial estate is now characterised by abandoned factory buildings and warehouses.
“We have since lost our rating as one of the industrialised states and competitiveness as a preferred destination for domestic and foreign direct investments resulting in the continuous posting of low economic growth, high unemployment rate, and slow development.
“For decades, the Rivers State Government had continued to depend more on allocations from the federation account to fund its expenditures because tax revenues had remained low due to low investments and economic growth.
“For us, building a resilient, robust, and diversified economy holds the key to sustainable peace, security, and progress of our State and the spiritual, social, and physical well-being of our people.
“We, therefore, commit to the re-industrialisation of Rivers State in partnership with the informal and organised private sectors through necessary policy, legal, and other support measures, and systems.” (GBN)
