- Delta State has launched a $100 million Viability Guarantee Fund and introduced tax incentives to attract local and foreign investment.
- The state is targeting investments in energy, agriculture, manufacturing, tourism and the blue economy to diversify its economy.
The Delta State Government has launched a $100 million Viability Guarantee Fund and introduced tax incentives to attract local and foreign investment, diversify the state’s economy and reduce dependence on oil revenue.
Governor Sheriff Oborevwori announced the initiatives on Monday, August 3rd, 2026, during the opening of the 2026 Delta State Economic and Investment Summit in Asaba. He described the summit as a platform for connecting investors with viable business opportunities. “This summit is not a talk show. It is about matching vision with action and building partnerships that will transform the economy of Delta State,” Oborevwori said.
To encourage private sector investment, the governor announced waivers on selected fees, levies and charges for up to five years. The duration of the incentives will depend on the size and nature of each investment.
He said the state has invested heavily in roads, security, education and other infrastructure to improve the business environment. He also disclosed that the government has set aside more than 12,000 hectares of land for commercial agriculture.
According to Oborevwori, investors can also explore opportunities in gas-fired power plants, solar energy, mini-grids, waste-to-energy projects, manufacturing, tourism and the blue economy. He noted that Delta’s more than 160-kilometre Atlantic coastline provides additional opportunities for investment.
The governor said the state has maintained fiscal discipline while delivering infrastructure projects. “We have not borrowed from commercial banks to execute our projects, and today we are unveiling a $100 million Viability Guarantee Fund to reduce investment risks and demonstrate our commitment to ensuring that agreements reached at this summit are implemented,” he said.
He added that Delta attracted the highest oil and gas investment in Nigeria in 2024, reflecting growing investor confidence.
Vice President Kashim Shettima urged state governments to compete for investment rather than political relevance. He said healthy competition among states will create jobs, promote industrialisation and drive economic growth.
“States are now competing for investments, and that is a healthy competition because the ultimate beneficiaries are Nigerians who will enjoy more jobs, more opportunities and improved quality of life,” Shettima said.
He described Delta as a state with strong investment potential but stressed that natural resources alone cannot guarantee prosperity. “The state’s natural resources alone cannot create prosperity unless they are properly organised, financed and transformed into productive enterprises that create jobs and improve people’s lives,” he said.
Shettima also encouraged investors, financial institutions and development partners to take advantage of investment opportunities in the state. He assured them that the Federal Government remains committed to maintaining a stable and investor-friendly business environment.
Director-General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala, welcomed the state’s diversification strategy and described the $100 million investment de-risking fund as an important step towards attracting private capital. “I came because this governor takes action. The announcement of a $100 million fund to reduce investment risks is exactly the kind of initiative that encourages investors,” she said.
Okonjo-Iweala urged the state to build competitive industries around agriculture, manufacturing, technology, energy and the blue economy. She emphasised that successful implementation will determine the state’s long-term economic success. “Endowments alone do not create prosperity. Budgets alone do not build roads or industries. Execution is what matters,” she said. She also encouraged the government to strengthen value chains by processing agricultural products instead of exporting raw commodities.
In addition, she called for greater investment in gas infrastructure, digital technology and the blue economy. She noted that Nigeria spends nearly $1 billion every year importing fish and fish products despite its vast marine resources.
Chairman of the summit, Austin Avuru, urged the state to reduce its dependence on crude oil by expanding agriculture and manufacturing. Secretary to the State Government, Dr Kingsley Emu, said Delta’s economy is valued at approximately ₦16.97 trillion, with the non-oil sector contributing about 71.4 per cent of the state’s gross domestic product.
He added that the summit is showcasing investment opportunities in agriculture, livestock production, solid minerals, energy, digital technology and the Delta State Special Economic Zone.