Fubara Launches Bold Economic Initiative to Attract Investments

By Olaide Ajibola, JKNMedia Reporter

TO GALVANIZING key stakeholders with compelling investment opportunities to transform the state’s economic landscape, Rivers State Governor Siminalayi Fubara has expressed his commitment towards this.

While addressing business leaders at a cocktail reception held at the Banquet Hall of Government House in Port Harcourt on Wednesday night, Fubara emphasized the importance of the ongoing Rivers State Economic and Investment Summit 2024.

During his speech, Fubara highlighted the summit’s role in providing crucial data to help formulate a comprehensive economic roadmap for the state. The reception was organized to honor the participants and delegates attending the summit.

He also stressed the urgency of revitalizing Rivers State’s economy to reclaim its position as an economic powerhouse capable of competing with advanced nations and praised the industrious nature of Rivers’ people, noting their historical contributions as farmers and fishermen.

“Despite our industrialization and education advancements, we must not lose sight of our roots. It’s time to reignite our economic engine and propel Rivers State forward,” said Fubara.

Fubara also acknowledged past economic successes and setbacks but remained optimistic about the future. “We have assembled a global representation here to signal our intent to change our state’s trajectory. Rivers State has the resources—oil, gas, and a prime coastline—to thrive in the emerging blue economy,” he added.

The governor expressed gratitude to all contributors and supporters of the summit’s first day, predicting even greater successes ahead, admitting that while not all expectations were met perfectly, initiating the process was a crucial first step. “We seek your assistance to rectify our missteps and help us advance Rivers State,” he urged the attendees.

Reiterating his commitment to the people of Rivers State, Fubara stated, “Our priority is the success of Rivers State. A thriving state will naturally attract political interest. My legacy will be defined by the progress we achieve.”

In his opening remarks, former Commissioner of the State Ministry of Finance, Dr. Chamberlain Peterside, acknowledged the extensive efforts required to organize the summit and praised the governor’s willingness to listen and act on proposals that led to the event’s fruition.

Dr. Peterside emphasized the summit’s purpose of fostering networking and collaboration among business leaders to generate sustainable economic growth. Reflecting on the last similar event over 13 years ago, he noted the significance of the current administration’s initiative to engage the private sector.

“Private sector input is vital for driving economic growth,” Dr. Peterside stated. “Governor Fubara’s decision to involve business leaders in governance and economic planning is a forward-thinking approach that will yield significant benefits for Rivers State.”

He expressed confidence that the summit’s outcomes would lead to robust economic development and encouraged stakeholders to seize the opportunities presented for the benefit of the state’s residents and the wider Nigerian economy.

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