-
The Niger Delta Development Commission says an initial N5 billion fund has been established through the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture.
-
NDDC Managing Director, Dr Samuel Ogbuku, said the fund forms part of efforts to move the Niger Delta away from an economy heavily dependent on public spending
-
Ogbuku identified the people of the Niger Delta as the region’s greatest asset, stressing the need for sustained investment in human capital, skills development and entrepreneurship
-
The NDDC chief also called for closer cooperation among the nine Niger Delta states to develop shared infrastructure, improve the business environment and lower the cost of doing business.
September 16, (THEWILL) – Efforts to reposition the Niger Delta economy received a fresh boost as stakeholders at the Niger Delta Economic and Investment Summit turned attention to the need for stronger private-sector participation, enterprise development and regional cooperation.
At the summit, the Managing Director and Chief Executive Officer of the Niger Delta Development Commission (NDDC), Dr Samuel Ogbuku, disclosed that an initial N5 billion fund had been unveiled by the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) to support businesses and enterprise development in the region.
Ogbuku said the initiative was important in creating a stronger economic base for the region, particularly by expanding opportunities for businesses and entrepreneurs and encouraging investment beyond the traditional dependence on oil and government intervention.
According to him, the economic future of the Niger Delta must be built around its people, noting that human capital remained the most valuable resource available to the region.
He stressed the need for greater investment in skills, entrepreneurship and other forms of human-capital development capable of equipping residents, particularly young people, to participate meaningfully in the region’s emerging economic opportunities.
The NDDC boss also called for stronger collaboration among the nine Niger Delta states, arguing that individual efforts by the states would not be sufficient to address the infrastructure and economic challenges confronting the region.
READ ALSO:
He said closer regional cooperation would help governments develop critical infrastructure, strengthen the investment climate and reduce the cost of doing business for companies operating across the Niger Delta.
Ogbuku reaffirmed the NDDC’s commitment to working with state governments, businesses, investors and other stakeholders to build a diversified and productive economy capable of attracting sustainable investment into the region.
He said the Commission was interested in supporting initiatives that would move the Niger Delta towards an economy driven by production, enterprise and investment rather than one primarily dependent on government expenditure and resource revenues.
The NDDC chief’s position comes amid renewed efforts by stakeholders to change the economic narrative of the Niger Delta, which, despite its enormous oil, gas, agricultural and maritime resources, continues to face infrastructure deficits, unemployment, poverty and a challenging business environment.
For decades, public interventions through the Federal Government, NDDC and other development programmes have sought to address the region’s development gap.
However, stakeholders at the summit stressed that sustainable transformation would require greater participation by the private sector and stronger coordination among the states.
The proposed N5 billion business fund therefore represents part of the broader push to strengthen the region’s private-sector base and provide businesses with greater opportunities to expand, create jobs and contribute to economic growth.
Ogbuku said the NDDC would continue to engage with relevant stakeholders to ensure that economic initiatives translate into tangible opportunities for the people of the region.
He maintained that the Niger Delta could achieve greater economic resilience if its human and natural resources were properly harnessed and supported by the right infrastructure, investment policies and business environment.
The summit also provided a platform for government officials, business leaders, investors and other stakeholders to examine practical strategies for attracting investment and promoting sustainable economic development across the nine states.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
