Gov Fubara signs executive order to establish Investment Agency

…Says Rivers State must be great economically again

By Barth Ndubuwah, Port Harcourt

Rivers State Governor, Sir Siminalayi Fubara, has signed an Executive Order to give impetus to the establishment of an Investment Agency that will coordinate the barrage of enquiries and business interests expressed by investors who he said now consider the State as a destination of first choice.

Governor Fubara signed the Executive Order No. 002 of 2024 for the establishment of the Rivers State Investment Promotion Agency when it was presented to him by the State Attorney General and Commissioner for Justice, Dagogo Israel Iboroma, SAN, at the Executive Council Chambers of Government House in Port Harcourt on Monday.

The Governor explained that what he has just done is to give force to one of the recommendations in the report submitted to him by the committee that handled the organisation of the Rivers State Economic and Investment Summit in May.

According to him, “it is undisputed that the summit served as a veritable platform to open up the State for  economic advancement, adding that the Investment Promotion Agency will be a one-stop-shop to handle all related activities seamlessly in the State.

“What we just did today is in line with one of the recommendations of the Special Committee that handled the Rivers State Economic and Investment Summit that was held in May this year.

“As a fall out of that summit, we all agreed that the windows and the big doors for economic advancement of the State had been opened. But, it will be very important for us to have a one-stop-shop.

“This will enable investors, when they come in; they won’t need to run around and maybe, fall into wrong hands or associations that will want to reap them off their investment stakes.

“With this, they will have an agency that they could go to, liaise with and the agency will have the required answers to whatever it is that they will need to address concerns before it,” Gov Fubara said.

He pointed to the fact that beyond organising the summit, his administration is showing that it can live up to fulfilling its promise of making Rivers State great again, economically.

This is why, he stated, he is not going to end with the signing of the Executive Order alone, but will drive it to a conclusive end to achieve the desired fulfilment that Rivers people expect.

“We are not going to end here. In a couple of days, the agency will be properly constituted. Now that we have the agency order signed, we are set to deliver to the good people of Rivers State and prospective investors; the other part of it will soon commence.

“We are looking forward to robust business deals that will be coming into our State, more especially in the area of healthcare and agriculture.

“We understand what is happening in our country today. Half of the trouble is about the issue of feeding: the high cost of living. If we are able to reduce the cost of living, about 70 percent of our problem would have been taken care of. And that is our dream and desire for Rivers people,” he added.

Governor Fubara thanked the Attorney General and Commissioner for Justice, Dagogo Iboroma, SAN, and other members who had assisted to make sure the recommendations in the committee’s report are implemented.

Presenting the Executive Order No. 002 of 2024 for the establishment of Rivers State Investment Promotion Agency to the Governor, the Attorney General and Commissioner for Justice, Dagogo Israel Iboroma, SAN, explained that the Agency will be a bold step towards harvesting the gains of the Economic and Investment Summit held between 22nd to 23rd  May, 2024.

“On the 22nd and 23rd of May, 2024, Rivers State Government held the Rivers State Economic and Investment Summit. That investment summit was the first of its kind in Rivers State and it was a huge success.

“To harness the gains of that Economic and Investment Summit, it is important that there be a vehicle to drive, promote, coordinate and create a conducive environment for investment development in Rivers State,” Iboroma explained.

He said this will be done “through Greenfield, Brownfield, Public-Private Partnership, Privatisation, Commercialisation of State-owned assets and concessions, enterprise development schemes, etc.

“Today, the 5th day of August, 2024, His Excellency will sign Executive Order No. 002 of 2024 to bring to bear the Rivers State Investment Promotion Agency,” the State Attorney- General said.