Economic summit: Delta, first-order investment destination — Shettima

… as Oborevwori unveils $100m fund to Derisk investments in Delta

Vice President Kashim Shettima, on Monday, called on local and foreign investors to take advantage of Nigeria’s improved economic outlook, declaring that Delta State is strategically positioned to emerge as one of the country’s foremost investment destinations.

He said the Federal Government’s economic reforms continue to restore investor confidence.

Speaking at the opening of the Delta State Economic and Investment Summit 2026 in Asaba, Shettima said the bold reforms initiated by President Bola Tinubu’s administration had strengthened macroeconomic stability, improved Nigeria’s global credit profile and created the right environment for long-term investments.

He said, “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.”

According to him, increased federal allocations arising from ongoing fiscal reforms have empowered state governments to pursue ambitious development programmes, while recent upgrades by Fitch Ratings, S&P Global Ratings and Moody’s reflected growing international confidence in Nigeria’s economy.

“These are proof that Nigeria is regaining credibility, and the best time to invest is now before the opportunity becomes expensive,” he added.

Shettima described Delta as a first-order investment destination, noting that beyond its oil wealth, the state’s deliberate commitment to economic diversification was its greatest strength.

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He identified Delta’s strategic coastline, ports, natural gas reserves, refining assets, vast agricultural potential, blue economy opportunities and rich deposits of solid minerals as key assets capable of transforming the state into a major industrial and commercial hub.

Commending Governor Sheriff Oborevwori for convening the summit, Shettima said the Federal Government would continue working with sub-national governments to eliminate barriers to enterprise and support credible investments.

“We are co-travellers on the road from promise to production, from allocation to transformation, and from potential to prosperity,” he said.

Earlier in his address, Oborevwori announced that the state government had set aside US $100 million as Viability Gap Funding to de-risk strategic private sector investments, describing the initiative as a major step towards converting investment commitments into bankable projects.

He said the summit was conceived to move beyond discussions and deliver measurable investments capable of accelerating industrialisation, economic diversification and job creation.

Oborevwori explained that the initiative followed investment promotion missions undertaken by the state to China and Brazil in 2025, aimed at attracting strategic global partnerships.

The governor said Delta, with an estimated economy valued at about N17 trillion, remained one of Nigeria’s most attractive investment destinations because of its abundant natural resources, improving infrastructure, sound fiscal management and investor-friendly policies.

He disclosed that the state had introduced tax incentives, including waivers on tenement rates, levies and other charges for up to five years, while establishing an Ease of Doing Business Council to simplify investment processes.

According to him, over 12,000 hectares of land have been earmarked for commercial agriculture, while the state’s 163-kilometre coastline road presents enormous opportunities in the blue economy.

Oborevwori also highlighted investment prospects in gas-fired power plants, renewable energy, solar farms and mini-grid infrastructure, assuring investors that Delta remained financially stable, secure and debt-free under his administration.

He noted that the Federal Ministry of Petroleum Resources had recognised Delta as Nigeria’s Safest State for Oil and Gas Investments in 2024.

In her keynote address, Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, urged Delta State to leverage global supply chain realignments, the African Continental Free Trade Area (AfCFTA) and Nigeria’s economic reforms to position itself as the country’s next industrial growth hub.

Saying that she is “a Delta State optimist”, she said the state’s natural gas reserves, seaports, rail connectivity, fertile agricultural land, skilled workforce and fiscal discipline placed it in a strong position to compete with established commercial centres.

Okonjo-Iweala advised the state government to concentrate investments in strategic sectors, including the Delta Special Economic Zone, agro-processing, blue economy, oil and gas value addition, marine logistics and digital infrastructure, while investing in artificial intelligence and digital connectivity to prepare young people for the future.

Also speaking, Anambra State Governor, Prof. Charles Soludo, said Nigeria’s macroeconomic fundamentals had improved considerably, noting that the country had moved from capital flight in 2023 to a more stable and predictable exchange rate environment in 2026.

He advocated stronger economic collaboration between Delta and Anambra States and urged governments to make investment promotion a continuous process rather than an occasional event.

Renowned Pan-Africanist, Prof. Patrick Lumumba, challenged African governments and investors to have greater confidence in the continent’s economic potential, insisting that Africa possessed the resources, talent and entrepreneurial capacity to drive sustainable development.

He urged African investors to channel more investments into the continent, arguing that increased intra-African investment would accelerate industrialisation, create jobs and reduce dependence on foreign capital.

Minister of Finance, Prof. Taiwo Oyedele, said the Tinubu administration’s reforms, including subsidy removal and foreign exchange liberalisation, had significantly increased revenues available to states and local governments for development.

He described Delta as a natural powerhouse of the blue economy and encouraged investors to see both the state and Nigeria as leading investment destinations in Sub-Saharan Africa.

Chairman of Transcorp Power Holdings, Mr Tony Elumelu, pledged the company’s readiness to partner with the Delta State Government to provide reliable electricity for industries and households across the state.

Similarly, Chief Executive Officer of Mosra Energy, Ramos Olukayode, disclosed that Delta possesses over 200 million tonnes of coal deposits in Obomkpa, Ukunzu and surrounding communities, while 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 is now valued at about ₦200 billion.

Rone also announced that UTM Gas would establish its corporate headquarters in Warri when its operations commence fully in 2030, further strengthening Delta’s position as a major energy investment destination.