Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has challenged the Delta State Government to transform its abundant natural resources into lasting economic prosperity, insisting that true wealth comes from effective execution—not just resource abundance.
Speaking on Monday at the Delta State Economic and Investment Summit in Asaba, Oyedele said Delta already possesses enormous economic advantages, but the real task is converting those strengths into jobs, industries and sustainable development.
According to him, the state’s rich natural resources, fertile land, waterways and strategic location provide a solid foundation for growth if properly harnessed.
“The challenge is not discovering these strengths but harnessing them. The potential already exists. What is required is sustained commitment, the right processes, the courage and the readiness to unlock it,” he said.
He stressed that prosperity is not guaranteed simply because a state is naturally endowed.
“Prosperity does not come because a state is naturally endowed. Prosperity comes through execution,” Oyedele added.
Tinubu’s Economic Reforms Laid the Foundation
Oyedele also highlighted the economic reforms introduced by President Bola Ahmed Tinubu, saying the administration took difficult but necessary decisions to stabilise Nigeria’s economy.
According to him, reforms such as the unification of the foreign exchange market, removal of fuel subsidy and efforts to restore monetary discipline have created more resources for investment in critical sectors.
He added that ongoing tax reforms are also aimed at improving government revenue without placing additional burdens on small businesses.
States Must Convert Stability into Prosperity
While acknowledging the Federal Government’s role in maintaining macroeconomic stability, Oyedele said state governments now have the responsibility of translating that stability into meaningful development.
“Macroeconomic stability is the responsibility of the Federal Government. Shared prosperity is the responsibility of every level of government,” he stated.
He explained that while Abuja can stabilise the economy, states must create jobs, attract investments, resolve land-related challenges and support local businesses.
“Abuja can stabilise the currency, but Abuja cannot operate a processing plant in Delta State or resolve land title issues in Warri. Those are the decisions that transform economic statistics into jobs, factories and profitable markets,” he said.
Call for Strong Institutions and Investor Confidence
Describing Delta as one of Nigeria’s most strategically positioned states, Oyedele noted that its oil and gas resources, fertile agricultural land and mineral deposits offer enormous opportunities for investors.
However, he warned that natural resources alone cannot guarantee development.
“Natural resources alone do not create prosperity. Prosperity comes from strong institutions, consistent policies, political will and an environment where contracts are respected and investments are protected,” he said.
Addressing potential investors, Oyedele expressed confidence in Nigeria’s improving economic outlook and encouraged them to take advantage of emerging opportunities in Delta State.
“The time to invest is now,” he declared.
