DELTA @25: THEMATIC NOTES ON THE DELTA STATE ECONOMIC AND INVESTMENT SUMMIT

Indeed, it was pomp and pageantry as Delta State celebrated the 25^th anniversary of its creation with cultural fiesta, a very educating summit, gala/award night and thanksgiving service, all hosted by Delta State government and sponsored by several NGOs.  Across the land some skeptics and cynics questioned the propriety for the celebration of the anniversary of the State creation in these hard economic times. But in the end the entire celebration, particularly, the Economic/Investment summit was quite eventful and educative, especially in pointing towards the direction the State is headed under Governor Ifeanyi Okowa. 

The summit was geared towards the evaluation of the economic progress of the State since creation, expose economic potential and investment opportunities in the State, demonstrate the significant improvement on the ease of doing business, showcase existing and planned public-private partnership investments and sensitize and mobilize local and foreign private investors towards tapping into the investment opportunities in the State.

In a speech by the Vice President, Prof Yomi Osibajo, the Nigerian Federal Government scored the governor of Delta State, Senator Dr. Ifeanyi Okowa high for partnering with the private sector to create wealth for Deltans.

The Vice President observed that no society can grow without the private sector playing active roles. "The governor of Delta State in his speech, said his administration is partnering with the private sector to develop the State; there is no way we can create prosperity without the private sector because, the public sector does not have the resources to ensure speedy development," Prof Osibanjo stated.

Prof. Osibanjo lauded Governor Okowa's administration for organizing the economic and investment summit. He appealed to those who are in positions of authority to build the trust of the people "and we must build that trust if we are trustworthy ourselves."

According to him, "as a government, we have no choice but to create the environment for the private sector to thrive; I think the private sector must be a responsible partner, paying taxes and contribute to all manners of social activities that makes the society truly great."

While congratulating the government and people of Delta State for celebrating 25 years of the State's creation, the Vice President observed that the greatest challenge facing governments at all levels in the country was having leaders who will have the courage and ability to stick to laid down plans.

"We are confronted today in our country with the challenge of leadership, we must take time to reflect on the type of leadership we have because, governments in Nigeria have never been short of good ideas and good plans, but the challenge is sticking to the plan and getting desired results," he said, adding, "time has come to get results, public officers must be held to account for their performances; time and resources are saved when qualified people are hired."

Earlier in his speech Governor Okowa noted that "our partnership with the private sector is of utmost priority for us and we are pursuing it with relentless vigour, adopting robust and flexible private public partnership models that guarantees a win-win for all."

'Beyond the pomp and pageantry of the silver jubilee celebration, it is also an occasion for the sober reflection; a time to pause, think deep and chart a new growth trajectory for the future of our great State," he stated, reiterating, "the need for foresight, careful planning, innovation and creativity has never been as it is today."

Governor Okowa disclosed that the summit was necessary because, "with the ever growing complexity, disruption and global competition of the 21st century, it is incumbent on us to build a strong, robust and resilient economy that is adaptable to the physical, social and technological changes that are a growing part of the age we live in; we must rise to the challenge now, or we lose out," assuring that his administration was committed to re-positioning Delta State as preferred investors' destination. 

The Chairman of the Summit, Mr Jim Ovia, Chairman, Zenith Bank Plc, said, "Delta State is a land of infinite possibilities, we should start thinking outside the box, we should think about alternative to oil," while the guest lecturer at the occasion, Prof. Charles Soludo, former Governor, Central Bank of Nigeria asserted that the State could be the economic cum tourism destination of the world, if its four sea ports, international airport, good road networks are well harnessed for the State to be accessed by sea, air and land.

The summit proper was split into seven sessions, each with a guest speaker from different sectors:

SESSION ONE: ECONOMIC AND INVESTMENT, Fiscal incentives for investment at sub-national level. Theme: Economic incentives for diversification and growth. The State, it noted is blessed with numerous and abundant natural resources, such as many sea and inland ports, the Onitsha market and the youthful and educated population. Noting that with commitment and competence the current leadership of the State can take advantage of Delta State God-given natural resources and other location-specific factors in line with the State government articulated medium term plan 2016-2019. The State government produced the 1st year performance report May 2015-May 2016, the document was unveiled at the summit. The fiscal incentive for economic diversification and growth within and outside was a target in section one.

SESSION TWO: OIL AND GAS, theme: stimulating industrialization in Delta State through Gas revolution. It noted that Delta State has the largest gas reserves in the country with over 900MM scf/d. The State could leverage on its abundant oil and gas resources to start up a gas based industrial revolution to enhance revenue flow for both the State and host communities. 

SESSION THREE: AGRICULTURAL AND AGRO INDUSTR, theme: Developing Agriculture through the value chain Approach.  A major approach under the S. M. A. R. T Agenda has been create room for Agriculture to thrive in the State and its main aim is to reveal the agricultural value chain through 'game changer' investment in Agro-processing, Market access and agro-industry with the State implementing the production and processing support programe (PPSP)and Youth Agricultural Etreprenureshiop Programe (YAGEP)focusing on key comparative advantage commodities in the State localities.

SESSION FOUR: EXIBITION AND BUSINESS NETWORKING, the emphasis is on having a trading center where the State intends to showcase, inform, share on a constant basis and discussing business ideas and investment proposal between government officials and the organized private sector.

SESSION FIVE: EASE OF DOING BUSINESS, theme: Enhancing Delta State business investment competitiveness. The summit outlined the need for peace building platform and also the challenges facing the monetary policy imbibed by the federal government. It urged a quick resolution of monetary policy to encourage foreign investors to do business in Delta State.

SESSION SIX: INFRASTRUCTURE, Theme: Bridging the infrastructural gap at the Sub-national level.  Adequate and reliable infrastructure is a fundamental to ease of doing business. Poor infrastructure (roads, electricity, water, housing, impact heavily on the cost of doing business and makes an economy unattractive to modern business. With respect to urban renewal, the State government is giving priority attention to road development and maintenance as a way to ease transportation and logistics for business and economic activities.