In the midst of political turmoil in Rivers State, Governor Siminalayi Fubara has declared to the investment community that the state is open for business. Speaking at the Rivers State Economic and Investment Summit 2024, Fubara highlighted the state’s efforts to attract private investment and create opportunities for residents to earn a decent living.
The two-day summit is showcasing opportunities in various sectors such as oil, natural gas, tourism, agriculture, and manufacturing. Governor Fubara emphasized that Rivers State offers more than just oil and gas, and his administration is committed to working with investors to restore the state’s economic glory.
Former Governor of Cross River State, Donald Duke, and former Deputy Governor of the Central Bank of Nigeria, Prof Kingsley Moghalu, also spoke at the summit. They emphasized the need for effective utilization of human and natural resources to chart a new economic course for the state.
Duke highlighted the abundance of gas resources in the state and urged for better utilization to boost revenue. He also pointed out the disparity between population growth and national budget, stressing the importance of prioritizing economic growth over inflation control.
Overall, the summit aims to attract domestic and foreign investments to ramp up the state’s gross domestic product and create a more business-friendly environment. With reforms in place to streamline investment processes and eliminate double taxation, Rivers State is poised to become a hub for economic growth and development.