Rivers State Governor, Siminalayi Fubara, in a move to capitalize on the growing interest from investors, has signed Executive Order No. 002 of 2024, paving the way for the establishment of the Rivers State Investment Promotion Agency.
The Executive Order, presented by the State Attorney General and Commissioner for Justice, Dagogo Israel Iboroma, SAN, at the Executive Council Chambers of Government House on Monday, aims to create a one-stop-shop for investors, streamlining the process and coordinating the numerous enquiries and business interests in the state.
NewsNGR reports that the development is seen as a significant step towards making Rivers State a premier investment destination, with the agency expected to play a crucial role in attracting and retaining businesses, creating jobs, and driving economic growth.
The Governor explained that what he has just done is to give force to one of the recommendations in the report submitted to him by the committee that handled the organisation of the Rivers State Economic and Investment Summit in May.
He said it is undisputed that the summit served as a veritable platform to open up the State for economic advancement, adding that the Investment Promotion Agency will be a one-stop-shop to handle all related activities seamlessly in the State.
Governor Fubara said: “What we just did today is in line with one of the recommendations of the special committee that handled the Rivers State Economic and Investment Summit that was held in May this year.
“As a fall out of that summit, we all agreed that the windows and the big doors for economic advancement of the State has been opened. But, it will be very important for us to have a one-stop-shop.
“This will enable investors, when they come in; they won’t need to run around, and maybe, fall into wrong hands or associations that will want to reap them off their investment stakes.
“With this, they will have an agency that they could go to, liaise with and the agency will have the required answers to whatever it is that they will need to address concerns before it.”
Governor Fubara pointed to the fact that beyond organising the summit, his administration is showing that it can live up to fulfilling it’s promise of making Rivers State great again, economically.
This is why, he stated, he is not going to end with the signing of the Executive Order alone but will drive it to a conclusive end to achieve the desired fulfillment that Rivers people expect.
He said, “We are not going to end here. In a couple of days, the agency will be properly constituted. Now that we have the agency order signed, we are set to deliver to the good people of Rivers State and prospective investors; the other part of it will soon commence.”
Governor Fubara also said that: “We are looking forward to robust business deals that will be coming into our State, more especially in the area of healthcare and agriculture.
“We understand what is happening in our country today. Half of the trouble is about the issue of feeding: the high cost of living. If we are able to reduce the cost of living, about 70 percent of our problem would have been taken care of. And that is our dream and desire for Rivers people,” he added.
Governor Fubara thanked the Attorney General and Commissioner for Justice, Dagogo Iboroma, SAN, and other members who had assisted to make sure the recommendations in the committee’s report are implemented.
Presenting the Executive Order No. 002 of 2024 for the establishment of Rivers State Investment Promotion Agency to the Governor, the Attorney General and Commissioner for Justice, Dagogo Israel Iboroma, SAN, explained that the agency will be a bold step towards harvesting the gains of the Economic and Investment Summit held between 22-23 May, 2024.
Iboroma explained: “On the 22nd and 23rd of May, 2024, Rivers State Government held the Rivers State Economic and Investment Summit. That investment summit was the first of its kind in Rivers State and it was a huge success.
“To harness the gains of that Economic and Investment Summit, it is important that there be a vehicle to drive, promote, coordinate and create a conducive environment for investment development in Rivers State.”
This will be done, he said: “through Greenfield, Brownfield, Public-Private Partnership, Privatisation, Commercialisation of State-owned assets and concessions, enterprise development schemes, etc.
“Today, the 5th day of August, 2024, His Excellency will sign Executive Order No. 002 of 2024 to bring to bear the Rivers State Investment Promotion Agency,” he added.