The federal government on Monday, urged the Delta State Government to sustain investments in agriculture, manufacturing, logistics, industrial development and the blue economy as they are critical sectors capable of creating jobs and strengthening Delta’s competitiveness.
Vice President Kashim Shettima who spoke while declaring the three-day 2026 Delta Economic and Investment Summit opened, said the federal government would continue to support and partner with states driving economic reforms and investment promotion in line with President Bola Tinubu’s Renewed Hope Agenda.
He ranked Delta among one of the most promising state’s in the country even as he lauded Governor Sheriff Oborevwori for a bold and strategic investment agenda capable of transforming Delta into a major hub for local and international investors.
He noted that the investment summit demonstrated the governor’s resolve to move beyond policy discussions by pursuing tangible investments capable of delivering measurable economic outcomes.
Oborevwori who had announced a $100 million (about N133 billion) Investment Support Fund, said it was designed as a Viability Gap Fund to reduce investment risks and encourage both domestic and foreign investors to establish businesses in the state.
The governor explained that the fund would ensure that investment agreements reached during the summit are translated into bankable projects capable of stimulating industrialisation, creating employment opportunities and expanding the state’s economy.
In her keynote address on the theme of the summit, “Harnessing Our Strengths and Unlocking Our Potential for Economic Development”, Ngozi Okonjo-Iweala, the director-general of the World Trade Organization (WTO) stated that the state possesses all the ingredients to emerge as Nigeria’s next great industrial hub.
She urged the state government to seize unprecedented global economic opportunities to transform the oil-rich state into a diversified, export-oriented economy.
The former Nigerian Minister of Finance said that the changing dynamics of global trade, supply chain diversification and the African Continental Free Trade Area (AfCFTA) have opened a rare window of opportunity for Delta State to position itself as a preferred destination for global investment.
She commended the governor for announcing a $100 million investment de-risking fund, adding that the initiative was exactly the kind of bold intervention needed to unlock private sector investments.
“The reason I came is because you take action. The fund you just announced, over 100 million dollars, to de-risk investment is exactly the kind of thing we need,” she said.
The WTO DG noted that although the global economy is facing mounting challenges arising from geopolitical tensions, unilateral tariffs, technological disruptions and climate shocks, international trade has remained remarkably resilient, creating fresh opportunities for emerging economies.
“The global trade in goods and services reached a record $34.65 trillion last year, while African merchandise exports grew by over 10 percent, driven largely by minerals, metals and agricultural commodities.
The headlines may focus on global disruptions but beneath them lies a stable core of opportunities. Those opportunities are there for Delta State, Nigeria and Africa. The question is whether we will seize them or allow them to go elsewhere,” she posited.
She explained that multinational companies are increasingly relocating production and diversifying supply chains away from overdependence on traditional manufacturing centres, creating what the WTO describes as “re-globalisation”, a trend that favours new investment destinations like Nigeria.
Kingsley Emu, the secretary to the Delta State Government, and chairman, Delta State Economic and Investment Summit Planning Committee, stated that the summit was conceived as a catalyst platform for economic transformation.
It is expected to deepen investor confidence, attract both domestic and foreign direct investment, and strengthen partnerships that will accelerate infrastructure development, industrial growth and job creation.
Beyond immediate engagements, the summit aims to position Delta State as a competitive, innovation-driven, and investment-ready economy within Nigeria and the broader African market.”, he stated.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
Facts Only
* The federal government urged the Delta State Government to sustain investments in agriculture, manufacturing, logistics, industrial development, and the blue economy.
* Vice President Kashim Shettima stated the federal government would support states driving economic reforms.
* Shettima ranked Delta among one of the most promising states in the country.
* Governor Sheriff Oborevwori announced a $100 million Investment Support Fund, designated as a Viability Gap Fund.
* The fund is intended to reduce investment risks for domestic and foreign investors.
* Investment agreements reached during the summit would be translated into bankable projects.
* Ngozi Okonjo-Iweala of the WTO stated the state possesses the ingredients to become Nigeria’s next great industrial hub.
* The global trade in goods and services reached $34.65 trillion last year, with African merchandise exports growing over 10 percent.
* Multinational companies are relocating production, creating a trend of "re-globalisation."
* Kingsley Emu stated the summit aims to deepen investor confidence and attract direct investment.
Executive Summary
Full Take
The narrative balances a top-down directive from the federal government with a bottom-up initiative by the state government, framed by international economic opportunities identified by external authorities like the WTO. The core pattern involves leveraging existing potential (Delta’s position as an oil-rich state) by implementing tangible financial mechanisms (the Viability Gap Fund). This suggests a tension between aspirational vision—becoming an industrial hub—and the practical implementation required to bridge the gap between policy and execution. The invocation of global trends like re-globalisation and AfCFTA positions Delta State not merely as a recipient of aid, but as a strategic node in shifting global supply chains. The challenge lies in ensuring that the momentum generated by high-level endorsements and fund announcements translates into sustained infrastructural and regulatory alignment necessary for realizing these broader economic shifts domestically. The underlying assumption is that political will, once mobilized, can effectively unlock private sector investment, yet the reality of navigating geopolitical volatility and systemic global challenges suggests that success depends less on potential and more on the structural resilience built into the execution phase.
Bridge Questions: What specific governance structures must be in place to ensure the Viability Gap Fund successfully translates agreements into bankable projects? How do existing state capacities align with the demands of becoming a diversified, export-oriented economy amidst global volatility? What mechanisms are needed to prevent economic opportunities from being captured externally rather than internalized within the state structure?
Sentinel — Human
The text reads like a report summarizing statements made at an official economic summit, featuring direct quotes and linking local policy to broader international trade dynamics.