By : Ike Philip Abiagom
Vice President Kashim Shettima has described Delta State’s deliberate commitment to economic diversification as its greatest strength, urging local and foreign investors to take advantage of the state’s vast economic opportunities and Nigeria’s improving investment climate.
Speaking at the opening of the Delta State Economic and Investment Summit 2026 in Asaba on Monday, Shettima said the economic reforms introduced by President Bola Ahmed Tinubu’s administration have strengthened macroeconomic stability, restored investor confidence, and positioned Nigeria as an attractive destination for long-term investments.
According to the Vice President, ongoing fiscal reforms have increased federal allocations to states, enabling sub-national governments to pursue ambitious development programmes. He also cited recent upgrades by international rating agencies as evidence of growing global confidence in Nigeria’s economy.
“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 said.
He noted that Delta State stands out as a first-order investment destination, not only because of its oil wealth but also due to its strategic efforts to diversify its economy. He highlighted the state’s coastline, ports, natural gas resources, refining assets, agricultural potential, blue economy opportunities and solid mineral deposits as major assets capable of driving industrial and commercial growth.
The Vice President commended Governor Sheriff Oborevwori for organizing the summit and assured investors of the Federal Government’s commitment to working with states to remove barriers to enterprise and attract credible investments.
Earlier, Governor Oborevwori announced that the Delta State Government had earmarked $100 million as Viability Gap Funding to support and de-risk strategic private sector investments.
He said the summit was designed to move beyond discussions and attract measurable investments capable of accelerating industrialisation, economic diversification and job creation across the state.
According to the governor, Delta’s economy is valued at approximately ₦17 trillion, making it one of Nigeria’s most attractive investment destinations due to its abundant natural resources, improving infrastructure, prudent fiscal management and investor-friendly policies.
Oborevwori disclosed that the state has introduced several incentives, including tax waivers and exemptions from certain levies for up to five years, while establishing an Ease of Doing Business Council to simplify investment procedures.
He further revealed that over 12,000 hectares of land have been designated for commercial agriculture and pointed to the state’s 163-kilometre coastline as a major asset for blue economy development. He also highlighted opportunities in gas-fired power plants, renewable energy, solar farms and mini-grid infrastructure.
The governor assured investors that Delta remains financially stable, secure and debt-free, noting that the Federal Ministry of Petroleum Resources recognised the state as Nigeria’s safest destination for oil and gas investments in 2024.
Delivering the keynote address, WTO Director-General, , described herself as “a Delta State optimist” and urged the state to leverage global supply chain shifts, the African Continental Free Trade Area (AfCFTA), and Nigeria’s economic reforms to emerge as a major industrial hub.
She said Delta’s natural gas reserves, seaports, rail connectivity, fertile agricultural land, skilled workforce and fiscal discipline provide a strong foundation for sustained economic growth.
Okonjo-Iweala advised the state to focus on strategic sectors such as 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 future opportunities.
Also speaking, noted that Nigeria’s macroeconomic fundamentals have improved significantly and called for stronger economic collaboration between Delta and Anambra States. He urged governments to make investment promotion a continuous process rather than a one-time event.
Renowned Pan-Africanist challenged African governments and investors to have greater confidence in the continent’s economic potential, emphasizing that Africa possesses the resources and talent required for sustainable development.
Other speakers at the summit included Finance Minister Prof. Taiwo Oyedele, Chairman of Transcorp Power Holdings Tony Elumelu, Mosra Energy CEO Ramos Olukayode, and UTM Gas Limited CEO Julius Rone.
Rone disclosed that Delta State’s ₦42 billion investment for an eight percent equity stake in UTM Gas in 2022 is now valued at about ₦200 billion. He also announced plans by the company to establish its corporate headquarters in Warri when full operations commence in 2030, further strengthening Delta’s position as a major energy investment destination.
The summit brought together government officials, investors, business leaders and development partners to explore strategies for unlocking Delta State’s vast economic potential and positioning it as a leading investment hub in Nigeria and Africa.