Stakeholder lauds MORE initiative in Delta

The Chairman of the Delta State Investment Development Agency (DIDA), Olorogun Lucky Oghene-Omoru, has said that the Governor Sherriff Oborevwori’s administration has made a bold statement to accelerate the growth and development of the state through his MORE Agenda by providing world-class infrastructural projects, creating an enabling environment for the private sector to thrive.

While delivering a lecture at the 12th Annual General Meeting and Investiture ceremony of Delta State Association of Chambers of Commerce, Industry, Mines and Agriculture (DACCIMA) in Asaba, titled, ‘Collaboration through Public Private Partnership (PPP) to Harness the Investment Potentials of Delta State for Accelerated Growth and Development,’recntly, Oghene-Omoru stressed that Delta State is among the most economically endowed in the country with an estimated population of 6.4 million (2022), land area of 18,050 sq. km, Atlantic Ocean coastline stretching to163 km, and its strategic location as gateway to the South-East and South-South regions.

He pointed out that the state’s abundant investment opportunities are enhanced by its natural resources endowments, which comprise about 40 per cent of Nigeria’s natural gas and 30 per cent of Nigeria’s crude oil reserves.

He said: “The state is a top contributor to Nigeria’s energy economy and national revenues. Delta State has diverse geographical conditions that enable the cultivation of wide variety of crops.”
Oghene-Omoru explained that Public Private Partnership (PPP) may lead to the establishment of many investment projects with the businesses promoting their products and creating value for their shareholders.

According to him, investors focus principally on their market share and profits and may not have the financial resources to invest in infrastructural facilities such that the absence of these facilities may hamper their operations, hence, the need for the state government to create the enabling environment for the businesses to thrive by providing a conducive operating environment and reducing the cost of doing business.

He said that this also involves Investment Aftercare, which comprises the government’s administrative actions, policies and programmes to address the challenges faced by businesses in areas such as taxation, levies, harassment by the youth, host communities, law enforcement agencies, and so on, adding that this will attract more investors.

Oghene-Omoru pointed out that Delta State is providing investment aftercare through various administrative policies/programmers and establishing One Stop Shop Agency in DIDA to look after the operational welfare of investors while promoting Ease of Doing Business (EODB) in the state.