*Calls for post-summit investment partnerships
*Proposes dress code for future investment summits to drive jobs

By Babajide Komolafe, Economy Editor & Egufe Yafugborhi, Ochuko Akuopha

ASABA—Governor Chukwuma Soludo of Anambra State has called for deeper economic collaboration between Delta and Anambra states, describing both as natural “twin growth hubs” capable of driving regional prosperity, while urging organisers of investment summits to focus on concrete business deals rather than speeches. He also proposed a “Made-in-Nigeria” dress code for future investment summits to stimulate local manufacturing and create millions of jobs.

Speaking at the Delta State Economic and Investment Summit in Asaba, Soludo said: “With the completion of the Second Niger Bridge, Delta and Anambra have effectively become twin states, much like New York and New Jersey. We should institutionalise our relationship beyond personal friendships by creating working groups that will promote economic cooperation.”

According to him, “There are many areas where Anambra can learn from Delta, and many areas where Delta can learn from Anambra. We are building a new commercial and industrial city powered by an aerotropolis, and I see several areas where our development strategies align. We should build synergies rather than compete unnecessarily.”

The governor stressed that recent macroeconomic reforms have created a more attractive environment for investment.

He said: “From a macroeconomic standpoint, Nigeria has stabilised and is on the path of recovery. We have broken some of the paradoxes of the Nigerian economy. We were a capital-scarce economy that was simultaneously experiencing massive capital flight. Today, the exchange rate has become more stable and predictable, and inflation is beginning to moderate.”

He added: “Foreign capital is essential for Nigeria and for all the states. Whether it comes from Africa or anywhere else in the world, investors require a stable and predictable macroeconomic environment. We are making progress in that direction.”

Calling for greater focus on implementation, Soludo said: “Investment must become a habit, not just an event. What should follow today’s speeches are business networking sessions, investment deals and concrete partnerships. We need coordinated action between the Federal Government and the states to translate macroeconomic reforms into jobs, poverty reduction and better living standards for ordinary Nigerians.”

On local manufacturing, the governor urged Nigerians to patronise locally made products.

“We cannot create the number of jobs we need if we continue consuming imported products while neglecting locally made goods,” he said.

Pointing to his attire, Soludo added: “I am wearing an outfit made by a Nigerian brand. My daughter introduced me to it in 2019 and it has since become my daily uniform. The business has grown significantly, creating jobs and increasing incomes.”

He concluded with a challenge to future summit organisers: “Imagine if over 240 million Nigerians deliberately chose to wear Made-in-Nigeria clothing. Millions of jobs would be created. Perhaps at the next investment summit, we should make it a rule: if you are not wearing Made-in-Nigeria, don’t come.”

By Babajide Komolafe, Economy Editor & Egufe Yafugborhi, Ochuko Akuopha

Chairman of Heirs Holdings, Mr. Tony Elumelu, has endorsed Delta State as one of Nigeria’s emerging investment destinations, declaring that the state is ready for profitable investments while calling for a partnership with the state government to unlock its huge power potential.

Speaking at the Delta State Economic and Investment Summit, Elumelu said the visible transformation taking place under the current administration had strengthened investor confidence in the state.
“I want to congratulate our Governor for his visionary leadership and for what he is doing for the people of Delta State,” he said.

The billionaire investor noted that as an indigene of the state, he has closely monitored its development and is encouraged by the growing pace of private sector investments.

“Through television, social media and other platforms, I have seen the remarkable progress being made. I see people investing and building estates in Delta State, and that is encouraging. Delta State is changing, and we are proud of what is happening,” he said.

Describing the state as an attractive destination for both local and foreign investors, Elumelu said: “Delta State is ready for investment. It is profitable, investor-friendly and very receptive to businesses.”

He, however, stressed that sustainable industrialisation would depend largely on reliable electricity supply, describing power as the foundation of economic growth.

“At Heirs Holdings and Transcorp Group, we are committed to supporting the economic transformation of our country. Everything we have discussed here ultimately comes down to one critical factor—electricity,” he stated.

Elumelu disclosed that Delta State has about 1,000 megawatts of installed electricity generation capacity, but lamented that much of the capacity remains underutilised because of gas supply constraints.

“In Delta State, we have about 1,000 megawatts of installed electricity generation capacity, enough to make a significant difference in driving industrialisation and economic growth. Unfortunately, we are unable to fully utilise this capacity because of certain constraints, particularly gas supply challenges,” he said.
He called on Governor Sheriff Oborevwori to work with the private sector to remove the bottlenecks, saying collaboration would enable the state to emerge as a leader in electricity generation and distribution.
“Your Excellency, Governor, we would like to engage further with you on how we can address these issues. Working together, we believe Delta State can become a leader in electricity generation and distribution, making power more available, more reliable and more affordable for businesses and residents alike,” Elumelu said.
He added: “That will be our contribution to the economic development of Delta State.”

…Advocates healthy rivalry among states

…Says comparative advantage holds key to prosperity

By Babajide Komolafe, Economy Editor & Egufe Yafugborhi, Ochuko Akuopha

ASABA—Vice President Kashim Shettima, Monday, urged local and foreign investors to take advantage of Delta State’s enormous economic potential, declaring that healthy competition among states, driven by their comparative advantages, remains the surest path to sustainable prosperity and national development.

Speaking at the Delta State Economic and Investment Summit in Asaba, Shettima said every state in the federation has a unique investment proposition shaped by its history, geography, people and natural endowments.

According to him, “Every state in the Federation is defined by the quality and ambition of the investment promise it offers. While each state pursues prosperity, every one does so uniquely, shaped by its history, geography, people and comparative advantage.”

He stressed that competition among states should no longer be about politics but about attracting investments, creating jobs and expanding economic opportunities.

“This is the race we must welcome—a race that proclaims growth over conflict; a race in which the prize is employment, prosperity and human dignity; a race for the future,” he said.

The Vice President noted that the Tinubu administration has created a stronger foundation for states to pursue development through its economic reforms.

He said: “We promised to place Nigeria on the path of growth, and each gathering offers another platform for turning that promise into enterprise. Every host state contributes to the Federation’s commercial ambition. One highlights agriculture, another minerals, technology, ports, energy or tourism.

In that healthy rivalry, Nigeria discovers the full meaning of her wealth.”

Highlighting Delta’s strengths, Shettima said the state possesses far more than oil resources.

“Delta State enters this moment with an advantage. That advantage is larger than its oil wealth. The future of a people cannot be dependent on a single commodity. Diversification is not merely an economic strategy; it is an instinct for economic preservation and a measure of the quality of leadership.”

He added: “The state has one of the longest coastlines in the Federation, abundant natural gas, ports, power assets, rich agricultural resources and an educated, enterprising population. A state so endowed already qualifies as a first-order investment destination. What remains is for the world to be told.”

Shettima described the summit as a platform to translate opportunities into tangible investments.

“Potential has no economic value unless it is organised, financed and put to work. Natural wealth buried beneath the ground cannot employ a young person. Talent without opportunity becomes frustration. The task before us is to transform what Delta possesses into prosperity that its people can feel in their homes, communities and workplaces,” he said.

He assured investors that the Federal Government would continue to support credible investments, strengthen enabling institutions and remove obstacles to enterprise in partnership with the Delta State Government.