Vice President Kashim Shettima has declared Delta State a first-order investment destination, urging local and foreign investors to take advantage of the state’s economic potential and Nigeria’s improving investment climate.
Shettima made the declaration on Monday at the opening of the Delta State Economic and Investment Summit 2026 in Asaba, where he said ongoing economic reforms by the Federal Government had strengthened investor confidence and created opportunities for long-term investments.
According to the Vice President, reforms introduced by the administration of President Bola Tinubu had improved macroeconomic stability, enhanced Nigeria’s global credit standing and created a more favourable environment for businesses.
He said every Nigerian state had unique advantages that could be converted into economic opportunities through deliberate policies and investment promotion.
“Every state possesses immense promise with its unique history, geography, people and comparative advantage.
”This is the race we must welcome, a race in which states compete to create employment, prosperity and human dignity,” Shettima said.
He noted that increased federal allocations resulting from fiscal reforms had provided states with greater resources to pursue development programmes, while recent ratings upgrades by international agencies, including Fitch Ratings, S&P Global Ratings and Moody’s, reflected growing confidence in Nigeria’s economy.
“These are proof that Nigeria is regaining credibility, and the best time to invest is now before the opportunity becomes expensive,” he added.
Describing Delta as a strategic investment location, Shettima said the state’s strength extended beyond its oil resources to its commitment to economic diversification.
He identified the state’s coastline, ports, natural gas reserves, refining assets, agricultural potential, blue economy opportunities and solid mineral deposits as major advantages capable of transforming Delta into a leading industrial and commercial centre.
Commending Governor Sheriff Oborevwori for convening the summit, Shettima said the Federal Government would continue partnering with state governments to remove barriers to enterprise and encourage credible investments.
“We are co-travellers on the road from promise to production, from allocation to transformation, and from potential to prosperity,” he said.
Earlier, Governor Sheriff Oborevwori announced that the state government had established a $100 million Viability Gap Fund aimed at reducing investment risks and attracting strategic private sector participation.
The governor said the fund was designed to move investment discussions beyond promises and convert commitments into bankable projects capable of driving industrialisation, economic diversification and employment creation.
Oborevwori said the initiative followed investment promotion missions undertaken by the state to China and Brazil in 2025 to attract global partnerships.
He described Delta as one of Nigeria’s most attractive investment destinations, citing its estimated N17 trillion economy, abundant resources, improving infrastructure, fiscal discipline and investor-friendly policies.
The governor disclosed that the state had introduced tax incentives, including waivers on tenement rates, levies and other charges for up to five years, while also establishing an Ease of Doing Business Council to simplify investment processes.
He said more than 12,000 hectares of land had been allocated for commercial agriculture, while the state’s 163-kilometre coastline road offered significant opportunities in the blue economy.
Oborevwori also highlighted opportunities in gas-fired power plants, renewable energy, solar projects and mini-grid infrastructure, assuring investors that Delta remained financially stable and secure.
He noted that the Federal Ministry of Petroleum Resources had recognised Delta as Nigeria’s Safest State for Oil and Gas Investments in 2024.
Also speaking, Anambra State Governor, Professor Charles Soludo, said Nigeria’s economic fundamentals had improved significantly, noting that the country had moved from capital flight in 2023 to a more stable exchange rate environment.
He encouraged stronger economic cooperation between Delta and Anambra States, saying investment promotion should become a continuous process rather than an occasional activity.
Pan-African scholar Professor Patrick Lumumba urged African governments and investors to develop greater confidence in the continent’s economic potential.
He said Africa possessed the resources, talent and entrepreneurial capacity needed to achieve sustainable development, adding that increased intra-African investment would accelerate industrialisation and create jobs.
Chief Executive Officer of Mosra Energy, Ramos Olukayode, disclosed that Delta had more than 200 million tonnes of coal deposits in Obomkpa, Ukunzu and surrounding communities.
Meanwhile, Chief Executive Officer of UTM Gas Limited, Julius Rone, revealed that Delta’s N42 billion investment for an eight per cent equity stake in the company in 2022 had risen in value to about N200 billion.
Rone added that UTM Gas would establish its corporate headquarters in Warri when operations commence fully in 2030, further strengthening Delta’s position as a major energy investment destination.
