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Rivers More Vibrant Place For Investment-Fubara …Earmarks $10m To Boost Agric Value Chain …•Signs PPP Pact For $10m MFC, Carbon Capture Project
Rivers State Governor, Sir Siminalayi Fubara, has said that a more vibrant investment-friendly environment has been created to reassure investors of requisite return on their investments.
The Governor maintained that his administration is taking measures to ensure that those numerous production factories that shut down operations in the State returned because of the renewed commitment to re-industralise the State.
Governor Fubara gave the assurance at the opening ceremony of the two-day Rivers State Economic and Investment Summit (RSEIS), with the theme: “Rivers Emerge: Advancing Pathways to Economic Growth and Sustainability,” which held at Dr Obi Wali International Conference Centre in Port Harcourt on Wednesday.
The Governor insisted that the various measures taken were to make Rivers to emerge as the premiere investment destination for all categories of investors.
Governor Fubara stated: “We have already implemented certain policy initiatives and reforms, including the prompt allocation and issuance of land titles and certificates of occupancy to prospective investors and a moratorium on State taxes and levies on new businesses.
“We are also working on the harmonization of State and Local Government taxes to eliminate double taxation and the imposition of multiple levies on investors.
“Two weeks ago, we launched the N4billion matching fund loan scheme with the Bank of Industry Limited for small, micro, and medium-scale businesses to drive financial inclusion and enhance the growth and development of these businesses to grow our economy, create jobs and wealth for our people.
“We have signed a development agreement with TAF Nigeria Limited for the construction of 20,000 mixed houses in the Greater Port Harcourt City. We signed another development pact with GOSH Nigeria Limited for the construction of an international automobile spare parts trading and commercial market,” he said.
Governor Fubara further said: “The State Government provided hundreds of hectares of land as its equity and work has since started at both sites. Apache Aluminium LLC of America has started the acquisition of land to establish a multi-billion-naira aluminium rolling mill (plant) in the Ogoni axis of Rivers State.
“We have opened discussions with Imagine Adama Agricultural and Technology of Israel to support the State in developing our huge agricultural potential, including reviving abandoned agricultural projects and infrastructures such as the Rivers Songhai Farm, the School-to-Land farms, fish farms, feed mills, oil palm estates and poultry farms across the State. We have earmarked about $10million for this project this fiscal year.
“Last week, the State Executive Council approved the proposal by Rainbow Heritage Group to build the New Port City in the State on about 1,000 hectares of land in collaboration with the Greater Port Harcourt City Development Authority.
“We have also concluded arrangements for the signing of a Memorandum of Understanding (MoU) with Planet One Holding Limited of Dubai for a $10million Mangrove Forests Conservation and Carbon Capture Project under the Private Public Partnership (PPP) arrangement,” he added.
Governor Fubara emphasised that “Rivers State provides several investment opportunities across diverse sectors of our economy, including oil and gas, agriculture and agro-processing.”
The State also prides itself, he said, in manufacturing, hospitality and tourism, education, ICT, and healthcare, infrastructure development, glass products and garments production, and power generation and transmission, among many others.
Governor Fubara also said that with over 40 per cent of fertile cultivable landmass, Rivers State has the potential to make a significant contribution to national food security with commercial investments in mechanised agriculture and the agro-processing industrial value chains.
“Several state-owned but moribund companies, farmlands, and business infrastructure, including oil palm estates, rubber plantations, poultry, and fish farms are available for interested private investors to take over and revitalize,” the Governor added.
Governor Fubara lamented that for years, the Rivers State Government depended more on allocations from the Federation Accounts to fund its expenditures because tax revenues had remained low due to poor investments and economic growth.
The Governor stated that, “it is for this reason, that there is a resolve to build a resilient, robust, and diversified economy that will hold 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 policies, legal, and other support measures, and systems.
“This was why we approved the Rivers State Economic and Investment Summit 2024 as the first of several measures to unveil the economic potential of the State to both local and foreign investors and markets.
“Against this background, I feel very optimistic that Rivers State will emerge from this summit, and position itself as a premier investment destination, offering boundless economic opportunities for domestic and global investors,” he stressed.
Governor Fubara explained efforts made to create a robust climate of ease of doing business in the State, including harmonising and reducing double taxation, which wear down businesses.
He also said that an Investment Promotion Agency has been established that will serve as a one-stop-shop to coordinate all investment activities.
“Furthermore, we have also approved the establishment of the Rivers State Investment Promotion Agency to provide one-stop-shop investment services and facilitation to investors in the State.
“In the first year of our administration, we received an appreciable number of expressions of interest from local and foreign investors to invest in diverse sectors of our economy, including agriculture, real estate, power generation, and manufacturing,” the Governor added.
Chairman of the occasion and former Governor of Cross River State, Mr Donald Duke, said the summit signalled a rebirth of commitment to correcting previous investment errors and to build enduring foundation upon which to anchor implementation of deliberate policies to moving Rivers State forward.
Mr Duke said Nigerian Government should stop the mere celebration of the large population size of the country, and begin to ensure that its citizens are trained to become productive and contribute to the nation’s economy in order to attain the zenith of economic growth for the country.
He advised the Rivers State Government, and indeed, all sub-nationals to look into harnessing their areas of comparative advantage so that they can strengthen those areas to become economically buoyant.
Delivering his goodwill message, Bayelsa State Governor, Senator Douye Diri, represented by the Secretary to State Government, Mr Nimibofa Ayawei, said they were delighted to be part of the summit geared towards finding a pathway to achieving economic prosperity of Rivers State, and pledged the continued partnership that will expand the investment frontiers of both states.
My-ACE China, known as the Mayor of Housing, has won the 2024 Man of the Year. The award was announced by board of trustees of the DMOMA Awards Academy in Port Harcourt at the week.
The organisers also declared his company, the Construction and Housing Mayor Limited as the brand promoter of the year, the third in a row.
The award ceremony which was held at the Arena Event centre in the GRA area of Port Harcourt was attended by several dignitaries in the society.
The organisers led by Dr. Ezebunwo Nyeche (chairman) and Stephen Chidiebere Okoye (Awards organizer) said in a statement that China was picked for his support and impact to small and medium enterprises in Rivers State, his media footsteps and his consistent propagation and promotion of Rivers State.
They noted that China won over 10 prestigious awards in 2024 alone on his track to promote Port Harcourt as a brand destination and Rivers as a peaceful state.
Handing the award to China, the organisers said the Mayor of Housing always comes to the rescue of events that aim to promote Rivers State, saying the DMOMA Awards would be held in two more cities in 2025.
Responding, Mr China said there is need for more sponsorship of talents in Port Harcourt and the Niger Delta, saying what they lacked was support.
“There is more talent in Port Harcourt but there is more support in Lagos to artistes than in Port Harcourt. So, the top talents in Port Harcourt work 10 times harder than those in Lagos to attract sponsorship.”
He also said Nigeria has a treasure base which is Port Harcourt but that the treasure is not oil and gas but talents. He said he was highly elated to win the of Man of the Year Award with his firm winning brand of the year.
In an interview, My-ACE China said he was particularly impressed with the diligence demonstrated by the organisers and the processes they used to pick winners every year.
He also said the victory showed attention paid by the organisers to unveil the personality behind the corporate masquerade, not just focusing on the company. “It actually reaffirms one of my quotes that a brand can only grow as big as the character of the visioner behind it.”
On his plans to help Port Harcourt compete with Lagos, China said 2025 will meet him doing things with the youths of Rivers State to push the Port Harcourt brand in the social media and rally the traditional press to create a positive narrative of Rivers State beyond violence and political negativity.
“The Garden City has not been enjoying the best of media perception for some years now but this is the first time we have a governor committed to non-political bias in doing his work. He does not consider whether you are a member of his party or not before doing what is right. For the first time, we have a true father of the state to all, and he has been diligently following the blueprint that stakeholders developed at the last Rivers Economic and Investment Summit, making sure he is doing it without political cronyism.”
He said his company would be building the biggest estate and the best, the ‘Alesa Sustainable Smart City, to move from brand perception to brand experience so as to move Rivers State to the next level.
He appealed to entrepreneurs not to be carried away by the old perception but to join the new way. “Position yourself because there is going to be a boom. People are rushing into Port Harcourt and new entrants may take the ground. Think expansion not contraction, think investment not divestment. Else, you miss it.”
To fellow estate investors, he admonished them to gear up for regulation. “It is no longer going to be business as usual especially for land peddling and land grabbing. Try to grow up because tangible development is going to take over.
“It is no longer going to be who sells the most land but who develops the most houses. The housing deficit in the land requires effective land development strategies. Any serious land seller should grow into a housing developer because developments are going to be coming into Rivers State and a lot of people are coming into the state.”
He said those that have grown to be developers will be many times richer than those that are just starting or are mere land sellers and peddlers. People should also position themselves because all the foreign investments and local ones will take advantage of this influx.
“The value of influx is coming, so prepare and take advantage. Be one of those that are big enough to take advantage. Remaining small will not be good but grow big in your products, in your services, because the market is going to grow big.”
Rivers State Governor, Sir Siminalayi Fubara, has expressed shock and sadness over the death of a former military governor of the State, Major-General Godwin Osagie Abbe (rtd).
Late Abbe, who hails from Edo State, was military governor of Rivers State between August, 1990 and January, 1992.
Governor Fubara described late Gen Abbe as one leader who dedicated himself to the service and wellbeing of Rivers people and humanity during his administration in the State, saying that the death of the distinguished military officer, politician and administrator was a very huge loss to the State, the Niger Delta, and indeed, the entire country, having traversed the length and breath of the nation in the cause of his military and political careers.
“On behalf of my family, the Government and good people of Rivers State, I condole with the family of the Abbes, the Edo people, and the Nigerian military on the demise of this colossus, whose contributions to the unity, peace and development of the nation are legendary.
“While we mourn his painful exit at this difficult time, we pray for the eternal repose of his soul, and urge the family to take solace in the fact that late Gen Abbe lived a fulfilled life in the service of his fatherland.”
Wife of Rivers State Governor, Lady Valerie Siminalayi Fubara, has noted with delight that Rivers children are well behaved, and has admonished them to remain supportive of their parents while striving always to make a difference wherever they find themselves.
Lady Fubara gave the counsel at the 2024 Christmas Children Party, attended by children from the 23 Local Government Areas of the State, including non-indigenes, at Government House in Port Harcourt on Thursday.
The Christmas Children Party also witnessed the presence of Governor Siminalayi Fubara, who stopped over to share moments with them, walking from one canopy to another, waving at them, and at other times, shaking hands with them to leave lasting memories on them.
The Rivers First Lady pointed to the importance of the celebration of Christmas, which draws attention to the birth of Jesus Christ, demanding that people have a deep reflection of the love that is demonstrated and mission of the birth, which is to redeem mankind.
Lady Fubara recalled how she took out time to visit the University of Port Harcourt Teaching Hospital and the Rivers State University Teaching Hospital, where she appreciated God for safe delivery of children born on Christmas day while felicitating with the nursing mothers.
She also stated the valuable time spent with motherless babies when she visited the Port Harcourt Children’s Home in Borikiri, old Port Harcourt Township, and celebrated their meekness, innocence and the beauty they bring to the world.
She said, “Even today, as we continue the celebration, efforts were made to extend invitation to our children in all the 23 local government areas of our State. In doing this, children from all classes of society, including the physically challenged, have been offered the opportunity to sit together as brothers and sisters, play, eat and dance.
“Whilst contemplating the uniqueness of celebrating Christmas on a Boxing Day, steps were equally taken to provide gifts for the children who are there, and also to pray for them, a qualitative fun session that will last in their memories.”
Lady Fubara advised all children in the State to remember that Jesus came into the world to make a difference, advising that they must emulate him so that they can positively impact their families and society.
She urged them to pray fervently to God to bless and prosper their mothers, daddies, aunties and uncles to better cater to their needs.
She added, “Be humble, obedient and supportive at home. Do household chores, and don’t forget to make excellent grades in school next academic session. Children are the joy of every home, and we are glad to have beautiful, well-behaved children in Rivers State.
“Thank you all for witnessing this 2024 Children’s Party, and I pray God Almighty to protect, shield and keep you safe from all negative companies in the name of Jesus. I wish you a Merry Christmas and a Prosperous 2025. God bless you all,” she said.
Lady Fubara expressed appreciation to her husband and Governor of Rivers State, Sir Siminalayi Fubara, for his absolute commitment to the growth of children, and the immeasurable support that ensured that Christmas Children Party was a success.
There were performances by Virtue Dancers, Kalabari Iria dancers, Wonder Time Children of Opobo Kingdom, Children of Rivers State Council of Arts and Culture, Diseye the Poet and DJ Arnold.