The Delta State Government has launched a $100 million (approximately ₦137.8 billion) Viability Gap Fund as part of efforts to attract more private sector investments and accelerate economic development across the state.
Governor Sheriff Oborevwori announced the initiative during the Delta State Economic and Investment Summit in Asaba, describing the fund as a clear demonstration of his administration’s commitment to turning investment pledges into real projects that will drive industrialisation, create jobs and strengthen the state’s economy.
According to the governor, the fund is designed to reduce the risks associated with new investments, giving both local and foreign investors greater confidence to establish businesses in Delta State.
“The government has set aside $100 million, approximately ₦137.8 billion, as Viability Gap Funding to de-risk new investments in the state,” Oborevwori said.
He assured participants that the agreements reached during the summit would not end as mere discussions but would be implemented without unnecessary delays.
“This is a practical demonstration of our total commitment to ensuring that the agreements reached at this summit are executed without delay. This summit is not a talk show; we are matching words with action,” he stated.
The governor expressed optimism that the summit would pave the way for lasting partnerships capable of driving massive industrial development across Delta State.
Delta Targets Investors with Business-Friendly Policies
Reaffirming his administration’s commitment to improving the business climate, Oborevwori said the summit was organised to reposition Delta as one of Nigeria’s leading investment destinations.
“This summit is not another talk shop; it showcases our vision and strong will to reposition the State economy and enhance its competitiveness in business,” he said.
He explained that the state aims to connect investors with opportunities while leveraging its natural and economic advantages to build lasting prosperity.
‘We Have Not Borrowed a Kobo’ — Governor
The governor also assured investors that Delta remains financially stable despite ongoing investments in infrastructure across the state.
He stressed that his administration has maintained prudent financial management without borrowing from commercial banks.
“Despite the huge investments in improving public infrastructure, we have not borrowed a kobo from any bank… prospective investors are coming to a state that is financially stable and provides an enabling environment for them to operate,” he said.
Five-Year Incentives for New Businesses
Oborevwori highlighted several incentives available to investors, revealing that eligible businesses can enjoy waivers on tenement rates, fees, levies and other government charges for up to five years after commencing operations.
He added that Delta’s ease-of-doing-business policies are designed to help businesses operate seamlessly and profitably.
Agriculture and Blue Economy Opportunities
The governor further disclosed that the state has earmarked over 12,000 hectares of farmland for agricultural investments, while its 163-kilometre coastline presents significant opportunities in the blue economy.
He urged both local and international investors to take advantage of these opportunities, saying his administration remains committed to building a diversified economy capable of creating jobs, attracting investments and delivering sustainable development.
