A Review of the Nigerian Energy Industry

Diversification: Rivers, South Korean investor partner to create 2000 jobs

*Governor Nyesom Ezebunwo Wike.

Mkpoikana Udoma

09 May 2018, Sweetcrude, Port Harcourt — As part of an effort to diversify away from over-dependence on crude oil revenue, the Rivers State Government has partnered with a South Korean investor, Chang B2B Company Limited, to create 2000 direct jobs through rice production.

Rivers State Governor, Nyesom Ezenwo Wike, during a visit by the Korean Investors in Agriculture to the Government House, Port Harcourt, said that the administration places a premium on agriculture.

The governor stated that his administration has developed a framework to promote foreign direct investments in the state, especially in the agricultural sector where a flexible land acquisition scheme has been entrenched.

He assured the Korean Investors that the State Government will create an enabling environment for their company to thrive, adding that a certificate of occupancy will be processed for the 10,000 hectares of land to be used by the company.

According to the governor, “Our priority is how to attract investors to the state. Agriculture if well harnessed will be the highest employer of labour after government.

“Rice production is very key. Ours is to make sure that the right environment is created for foreign investors to bring their funds to the state. ”

The governor, however, directed that details of further involvement of the State Government in the investment be worked out by the Commissioner of Agriculture, Commissioner of Commerce and the Attorney General of Rivers State with the investors.

Earlier, the Managing Director of Chang B2B Company Limited and Leader of Delegation, Mr Kim Kyochang, assured that the company will invest in rice production in Emohua Local Government Area of the state.

Kyochang said over the last 50 years, South Korea has witnessed massive development through agriculture, noting that his company like others have committed themselves to investments outside South Korea.

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