– Inaugurates investment promotion agency board
Mkpoikana Udoma
Port Harcourt — Rivers State Governor, Sir Siminalayi Fubara, says he remains committed to creating the climate conducive for growth of agriculture, oil and gas, manufacturing, small and medium enterprises, and key services because they are the productive sectors that will put Rivers’ economy on a competitive pedestal.
The Governor, therefore, charged members of the maiden Governing Board of the Rivers State Investment Promotion Agency to streamline their activities in such a manner that will attract real investors across critical sectors so that the State can become self-sustaining, comparatively.
Governor Fubara gave the charge when he inaugurated members of the six-man Board at Government House in Port Harcourt on Monday, charging them to recreate the state’s economy as the best investment destination, with a focus on harnessing its vast agricultural, oil and gas resources.
The Governor noted that the state’s gas resources can be translated into making Rivers the economic gateway and one-stop-shop for productive economic activities, citing the Ogba-Egbema gas hub as a key area of focus.
Governor Fubara explained that Rivers State used to rank first in the comity of states in terms of productive economic activities, which attracted various business interests and made the State a well-groomed investment haven.
But, he expressed regret that the attendant expansion and population growth were not maximally managed because the challenges overwhelmed those who superintendent over business activities then, lamenting that the expected blessings were wrongly channelled, which left the State in very pitiable economic situation.
“The purpose of this agency is to give our people – to assure them, that Rivers State can still come back to that enviable position that it once occupied. Those people that were doing business in Rivers State that left, for one reason or the other – that they can still come back.
“We want to see people who intend to come back and invest because Rivers State is blessed – it has oil, the most important item for development today, which is gas, in abundance.
“Look at what is happening in Trans-Amadi Industrial Layout: We can make Trans-Amadi Industrial Layout come back to what it used to be. We can develop the resources that we have in Onne Town. We have Ogba-Egbema gas hub. These are part of the promises we made during our campaigns, and we must fulfill those promises,” he said.
Governor Fubara emphasised that the agency is established to rigorously harness tenable economic and human potentials abundant in the State that can be translated into making Rivers the economic gateway and one-stop- shop for productive economic activities.
The Governor said: “We have waited for this moment for a long time. It is a moment we all have been praying for because we want to leave a State that will be remembered: Rivers State that can compete, and Rivers State that can stand the test of time as a proud State.”
He explained that Rivers State is about genuine business interactions that will be mutually beneficial to all parties in a sustainable way, insisting that investors desirous of gaining value from their stakes should boldly come to the State for partnerships that will work in the interest of all stakeholders.
He said, “The purpose is to build our State. The purpose is to grow this State economically in such a way and manner that even if we don’t get federal allocation anymore, for example, we can still sustain ourself (as a State) with our IGR.”
“Look to find people who are coming in to invest. People that are coming to build factories because it is only when we start production that employment issues will be resolved. So, please, those things that will solve the problem of unemployment, and promote economic boom in the State should be your focus,” he advised.
Responding, the RSIPA Board Chairman, Lawrence Fubara Anga, SAN, assured that they will deliver on their mandate, emphasizing the need to create an environment where youths become entrepreneurs and employers of labor.
Anga reaffirmed that Rivers State, known and still is the ‘Treasure Base of the Nation’, noting that the charge before them is to make that appellation march the reality of what prevails, desirably.
He assured that the Board will offer their best by delivering on their mandate but solicited support of ministries, departments and agencies of government, to succeed, this, he noted, will reduce unhealthy competition and bureaucratic bottlenecks that often frustrate genuine development efforts because of what he described as policy inconsistencies.
He said, “The charge is to restore Rivers State to be the ‘Treasure Base of the Nation. The charge is to make Rivers State economy probably the 10th or 12th largest economy in Africa, standing on its own. The charge is to turn Rivers State into the Dubai of Africa. That is what you have told us to do.
“It is not going to happen overnight. It is not going to happen just through us as individuals. It is a collective effort. But, we are convinced that with your support, and with the kind of leadership that you have already provided, it is very possible in the shortest period of time to start the transformation to change the narrative. And once the ship has left the port, nobody can stop it.”
Anga further said, “Your Excellency, investors’ monies have choices. No matter how potentially attractive a business proposition is, where there is insecurity, where there is confusion, where there is bureaucratic bottleneck, investors will run away because they have choices.
“And, one of the things your administration is trying to do is to restore security, safety of lives and property; security of tenor, when you buy land, you know that your title is secured because without security of tenor, you can’t get a loan. I am happy, this is a brand new agency, and we don’t have any excuse. What comes out; we are the ones that will shape it,” he emphasised.
