Vice President Kashim Shettima has called on domestic and international investors to take advantage of Nigeria’s improving investment climate, declaring that the country’s ongoing economic reforms have created a rare window of opportunity for profitable investments.
Shettima made the appeal at the opening of the Delta State Economic and Investment Summit 2026 in Asaba, where he said the economic policies of President Bola Tinubu’s administration had strengthened macroeconomic stability, restored investor confidence and laid the foundation for sustainable economic growth.
A statement issued on Monday by the Chief Press Secretary to the Delta State Governor, Festus Ahon, quoted the Vice President as urging states to harness their unique economic strengths in attracting investments capable of creating jobs and improving living standards.
According to him: “Every state possesses immense promise with its unique history, geography, people and comparative advantage. This is the race we must welcome, a race in which states compete to create employment, prosperity and human dignity.”
Shettima noted that recent fiscal reforms had significantly boosted allocations to state governments, enabling them to embark on ambitious development programmes.
He also pointed to positive assessments by Fitch Ratings, S&P Global Ratings and Moody’s as evidence that global confidence in Nigeria’s economy was steadily returning.
He said: “These are proof that Nigeria is regaining credibility, and the best time to invest is now before the opportunity becomes expensive.”
Describing Delta as a prime investment destination, the Vice President said the state’s abundant natural resources, strategic coastline, gas reserves, ports, agricultural potential and solid mineral deposits position it to become one of Nigeria’s foremost industrial and commercial centres.
He commended Governor Sheriff Oborevwori for organising the investment summit and assured investors that the Federal Government would continue collaborating with state governments to eliminate obstacles to business growth.
According to Shettima: “We are co-travellers on the road from promise to production, from allocation to transformation, and from potential to prosperity.”
Earlier, Governor Oborevwori announced that the Delta State Government had set aside 100 million dollars as Viability Gap Funding to reduce investment risks and encourage private sector participation in strategic projects.
He explained that the initiative was aimed at converting investment commitments into viable projects capable of accelerating industrialisation, diversifying the economy and creating employment opportunities.
The governor said the summit followed investment promotion missions to China and Brazil in 2025, adding that Delta’s economy, estimated at about ₦17 trillion, has become increasingly attractive because of its natural resource endowment, expanding infrastructure, prudent fiscal management and investor-friendly policies.
Oborevwori disclosed that the state had introduced several incentives, including tax waivers on tenement rates and other levies for up to five years, while establishing an Ease of Doing Business Council to simplify investment procedures.
He added that over 12,000 hectares had been designated for commercial agriculture, while the state’s 163-kilometre coastline offers vast opportunities in the blue economy. He also identified gas-powered electricity generation, renewable energy, solar projects and mini-grid infrastructure as key investment areas, assuring investors that Delta remains financially stable, secure and debt-free.
The governor further noted that the Federal Ministry of Petroleum Resources recognised Delta as Nigeria’s safest state for oil and gas investments in 2024.
Delivering the keynote address, the Director-General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, encouraged the state to capitalise on global supply chain shifts, the African Continental Free Trade Area and Nigeria’s ongoing reforms to position itself as the country’s next industrial hub.
Describing herself as “a Delta State optimist,” she said the state’s gas resources, seaports, rail links, fertile farmland, skilled workforce and prudent fiscal management provide a strong foundation for sustained economic growth.
She urged the government to prioritise investments in the Delta Special Economic Zone, agro-processing, the blue economy, oil and gas value addition, marine logistics, digital infrastructure and artificial intelligence.
Also speaking, Anambra State Governor, Prof. Chukwuma Soludo, said Nigeria’s macroeconomic environment had become more stable, noting that the country had moved from capital flight in 2023 to a more predictable exchange rate regime. He called for stronger economic collaboration between Delta and Anambra states while urging governments to sustain investment promotion efforts.
Pan-Africanist Prof. Patrick Lumumba challenged African governments and business leaders to demonstrate greater confidence in the continent by increasing investments within Africa.
Minister of Finance, Dr Taiwo Oyedele, said reforms such as fuel subsidy removal and foreign exchange liberalisation had substantially increased revenues available to states and local governments for development. He described Delta as a natural leader in the blue economy and encouraged investors to see both the state and Nigeria as attractive destinations in Sub-Saharan Africa.
Chairman of Transcorp Power Holdings, Tony Elumelu, pledged the company’s readiness to partner with the Delta State Government to improve electricity supply for businesses and residents.
Similarly, the Chief Executive Officer of Mosra Energy, Ramos Olukayode, disclosed that Delta State possesses more than 200 million tonnes of coal deposits in Obomkpa, Ukunzu and neighbouring communities.
The Chief Executive Officer of UTM Gas Limited, Julius Rone, revealed that Delta State’s ₦42 billion investment for an eight per cent equity stake in the company in 2022 has appreciated to about ₦200 billion. He added that UTM Gas would relocate its corporate headquarters to Warri when full operations commence in 2030, further strengthening Delta’s position as a major energy investment hub.
(Ripples)