Rivers State Governor, Sir Siminalayi Fubara has declared that the key vision of his administration is to create and implement policies that will make Rivers State a strong economic safe haven for investment and ease of doing business.
The Governor added that the just concluded Economic and Investment Summit organized in the state has opened up new vistas of economic development for the state as it served as a gateway to showcase the economic potentials of the state to the world and assured of holding it annually as a policy of his government.
Governor Fubara who disclosed this while receiving the Report of 2024, Rivers State Economic and Investment Summit from members of the organizing committee at Government House, Port Harcourt on Thursday, commended the Committee for doing a good job and expressed delight that despite plans by some elements to scuttle the event, the summit became a huge success.
The governor blamed the lack of development in the society on insecurity and the absence of strong institutions which he said resulted in organized crimes, and assured that his administration will work hard to create a strong economic base that will stand the test of time.
The governor said he will look into the recommendations of the committee particularly the establishment of an Investment Promotion Agency to drive business development in the state by exploring the enormous economic potentials of oil and gas, agriculture industry and boost of productive capital.
“What we are doing today is to chart a course for our State. It used to be one of the best, we had the oil companies here, but what happened? Bringing intellectuals together to think and brainstorm is for the purposes of building a big and strong economy for our State.”
He explained that on assumption of office as Governor, his administration worked out modalities to shore up the Internally Generated Revenue IGR and also introduced a free transport scheme after the removal of subsidy, which has become sustainable as well as providing a credit line of N4billion for small scale businesses in the state to improve the economy.
“So, I strongly believe that if we work together as a team, we will have a better State and some of these issues of economics hardship will be handled. Government policies might not be favourable initially, but at the end of the day if it is a policy that is fine, there will be positive results.”
On his part, the Chairman of the Organizing committee, Mr Chibeoso Aholu commended the Governor for his foresight in conducting the summit at a very critical moment and also thank him for giving them the opportunity to serve the state in such important capacity .
The committee chairman who presented a fifteen points recommendations of the committee to the Governor explained that the report provided short term, Mid term and long term values to drive business development in the state.
The recommendations of the committee include, immediate establishment of the Rivers State Investment Promotion Agency, introduction of policies to enhance ease of doing business, reviving of moribund government companies, establishment of Economic Advisory Council, provision of N100b Agricultural development loan to farmers, creation of Rivers Free Trade Zone.
Others recommendations include, creation of framework to develop Rivers Blue Economy, promotion of Arts and Culture development, making the economic summit a yearly event and post economic summit retreat, among others.
