Governor Sheriff Oborevwori on Monday announced a $100 million, approximately ₦133 billion, Viability Gap Fund to de-risk strategic investments and accelerate economic growth, declaring Delta State open for business.
The governor made the announcement while delivering the keynote address at the Delta State Economic and Investment Summit 2026 with the theme _“Harnessing Our Strengths, Unlocking Our Potentials”_ held in Asaba.
Oborevwori described the fund as a landmark initiative to give investors greater confidence and ensure that agreements reached at the summit translate into bankable projects, industrial expansion, and job creation.
“I am pleased to announce that the Delta State Government has set aside $100 million, approximately ₦133 billion, as a Viability Gap Fund to de-risk new investments in the state,” he said.
“This is a practical demonstration of our total commitment to ensuring that the agreements reached at this summit translate into real projects and measurable economic impact.”
Delta state Governor
Delta State Governor
The governor assured local and international investors of the state’s sound financial health, stating that despite executing massive infrastructure projects, his administration has not borrowed from commercial banks.
“We have not borrowed a kobo from any bank, and we have no intention of doing so. This underscores our commitment to fiscal discipline, prudent financial management, transparency, and accountability,” Oborevwori stated.
He said the state’s predictable policies have created a stable investment climate, and disclosed the establishment of the Delta State Ease of Doing Business Council, which he chairs.
The Council will oversee incentives including waivers on selected tenement rates, levies, fees, and other statutory charges for up to five years after businesses commence operations.
Highlighting Delta’s competitive advantages, the governor pointed to opportunities in agriculture, energy, manufacturing, logistics, and the marine economy.
According to him, the state’s agro-industrial strategy offers prospects in cassava, oil palm, rice, potato and other value chains. Its over 300-kilometre coastline, he added, presents opportunities in marine transport, fisheries, tourism, and the blue economy.
He also invited investors to explore Delta’s abundant natural gas reserves and renewable energy potential in gas-fired power plants, solar farms, mini-grids, biomass, waste-to-energy projects, rural electrification, and renewable energy manufacturing.
On security, Oborevwori said his administration has strengthened the state’s security architecture to provide a safe environment for businesses and residents.
He recalled that the Federal Ministry of Petroleum Resources recognised Delta as Nigeria’s safest state for oil and gas investment in 2024, describing it as further evidence of the state’s readiness for large-scale investments.
“The Delta State Economic and Investment Summit was designed to connect innovative ideas with investment capital, foster strategic partnerships, and unlock the state’s vast economic potential as part of efforts to build a diversified, resilient, and globally competitive economy,” he said.
Speaking during the summit,Vice President, Senator Kashim Shettima commended Delta State Governor, Rt. Hon. Sheriff Oborevwori, for his bold investment drive, describing Delta as one of Nigeria’s most promising destinations for local and global investors
Shettima said Governor Oborevwori’s efforts to position Delta for sustainable economic growth align with the Federal Government’s reforms aimed at creating a more stable and investor-friendly economy.
The Vice President described the growing competition among states to attract investment as a positive development that should be encouraged, noting that it promotes economic growth, job creation and shared prosperity.
Meanwhile, Pan-African scholar and governance expert, Professor Patrick Lumumba, has challenged Delta State to think beyond Nigeria and position itself as one of Africa’s leading industrial and investment destinations, declaring that the state’s economy is already larger than that of more than 20 African countries.
Lumumba said the state possesses all the ingredients required to become a continental economic powerhouse but urged its leaders to focus on harnessing local resources, strengthening institutions, and driving industrialisation.
The renowned scholar commended Delta State Governor, Rt. Hon. Sheriff Oborevwori, for recognising the state’s strengths and initiating policies aimed at attracting investment, particularly the recently announced $100 million Viability Gap Fund designed to de-risk private sector investments.
He warned that while Delta possessed abundant natural resources, those resources would remain underutilised unless they were transformed into industries capable of creating jobs and wealth.
For his Part Governor of Anambra State, Prof. Chukwuma Soludo urged Nigerians to embrace Made-in-Nigeria products, saying greater patronage of locally manufactured goods could create millions of jobs and accelerate the country’s economic growth.
Soludo explained that increased demand for locally produced goods would stimulate manufacturing, create employment opportunities and encourage businesses to expand operations across the country.
Using the locally produced Akwete fabric as an example, the Anambra governor said his decision to consistently wear the fabric had contributed to increased production, higher incomes and more employment opportunities for the women who produce it.
The governor, however, emphasised that investment should become a continuous process rather than a one-off event, urging state governments to create enabling environments where businesses can thrive beyond investment summits.
He further called for stronger collaboration among Nigerian states, suggesting that neighbouring states should work together to maximise economic opportunities instead of operating in isolation
Also in her keynote address at the Delta State Economic and Investment Summit ,the Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, also challenged Delta State to position itself as a global destination for skilled labour, manufacturing and investment by creating an environment where businesses can thrive and industries can compete internationally.
Okonjo-Iweala said Delta possesses the natural resources, strategic location, infrastructure and human capital required to become Nigeria’s next major industrial hub.
She commended Governor Sheriff Oborevwori for unveiling a $100 million Viability Gap Fund to de-risk investments, describing the initiative as a practical step towards attracting private capital and ensuring investment commitments translate into real economic projects.
The Delta State Economic and Investment Summit 2026 attracted, Captains of industry, government officials, investors, business leaders, development partners, policymakers amongst others .
(Asaba Metro)
