Connect with us

Opinion

Beyond oil: Niger Delta attracts new investments for economic growth and development

Published

on

Niger Delta

Niger Delta Summit in Port Harcourt targets $5bn investment and 500,000 jobs through diversification and innovation

By Ehi Braimah

In the mangrove-fringed creeks and bustling markets of the Niger Delta, the scent of crude oil has long defined daily life. 

Advertisement

Also read: Nigerian Banks Drive Strong Growth After Bold Recapitalisation Boost

For decades, the region’s nine states – Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, Rivers, and Abia – have powered Nigeria’s economy through vast hydrocarbon reserves.

Yet for many residents, that black gold has delivered more curses than blessings: environmental degradation from oil spills, youth unemployment fueling unrest, and a sense of abandonment amid federal wealth that rarely trickled down. 

Families in fishing villages watched their waters turn toxic; young graduates in Port Harcourt scanned job boards dominated by oil multinationals, only to face cycles of militancy and amnesty programmes that offered temporary relief but little lasting dignity.

Advertisement

Now, a quiet but determined shift is underway. 

Local business leaders are rewriting the script, betting that the Niger Delta region’s true wealth lies not just in its subsoil but in its people, rivers, farmland, and untapped entrepreneurial spirit. 

At the heart of this pivot is the maiden Niger Delta Economic and Investment Summit (NDEIS), scheduled for May 19 – 21, 2026, in Port Harcourt, Rivers State, with the theme: Driving investment, innovation, and industrial growth in the Niger Delta.

Advertisement

Organised by the Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA), the event carries an audacious goal: catalysing up to five billion dollars in structured investments over the next five years and creating more than 500,000 direct and indirect jobs.

Ambassador Idaere Gogo-Ogan, NDCCITMA chairman, framed the ambition plainly during a pre-summit media briefing in March 2026. “The region is ready to deliver 500,000 new jobs, inclusive of investment drive and wealth creation,” he said, describing the summit as a platform to deliberate on “investment mobilisation, enterprise growth, industrial expansion, and regional coordination.” 

President Bola Tinubu is expected as special guest of honour, with Barbados Prime Minister Mia Amor Mottley delivering the keynote, an intriguing nod to lessons from small-island economies that have thrived through diversification and resilience.

Advertisement

Dr. Solomon Edebiri, NDCCITMA secretary and local organising committee chairman, struck a note of pragmatic optimism. The summit, he explained, is “a strategic initiative designed to reposition the Niger Delta as a competitive hub for investment, enterprise development, and sustainable industrialisation.” While the world knows the Delta for oil and gas, its real legacy, he argued, rests on “a wealth of diverse and largely untapped opportunities” that the gathering aims to unlock.

Those opportunities are starting to crystalise. 

Discussions at the summit and related roundtables point to concrete sectors beyond crude: agriculture and agro-processing to leverage the region’s fertile soils and waterways; manufacturing and logistics to turn Port Harcourt and Warri into industrial nerve centers; blue economy initiatives harnessing fisheries, shipping, and coastal tourism; energy transition projects that optimise the existing oil-and-gas value chain (a shift toward renewable energy), and small-and-medium-enterprises (SME) scaling that could empower local entrepreneurs. 

Advertisement

Recent analyses echo this vision, highlighting how five billion dollars in inflows could reshape the economy by reducing oil dependency and channeling capital into youth-driven ventures in farming, light manufacturing, and services.

The Niger Delta Development Commission (NDDC) has thrown its weight behind the effort, signaling institutional buy-in for broader regional plans. 

Chairman Chiedu Ebie and Managing Director/CEO Samuel Ogbuku have championed infrastructure upgrades, skills programmes, and sustainable projects that align with the summit’s goals – efforts that extend beyond flashy announcements to the gritty work of roads, power, and training centres that make investment viable on the ground.

Advertisement

This local momentum dovetails with a national story of cautious investor re-engagement. 

Despite persistent security challenges, rankings on global terrorism indices, sporadic attacks in the northeast, and lingering instability in parts of the north-central zone, foreign and domestic capital is showing renewed interest in Nigeria, and the Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture is poised to announce the region to the world as a land full of opportunities for investors. 

While speaking on a recent Sunrise Daily broadcast on Channels TV, I pointed to President Tinubu’s UK visit last month and a high-level investment forum hosted by the Central Bank of Nigeria alongside the UK’s Foreign, Commonwealth and Development Office. 

Advertisement

Reforms such as exchange-rate unification, fuel-subsidy removal, and strengthened banking capital requirements have begun to stabilise macroeconomic indicators and rebuild confidence. 

I noted that 28 percent of recent capital inflows came from foreign investors, with 34 banks meeting the new CBN recapitalisation thresholds.

For the Niger Delta, the development agenda feels personal. During the interview, I specifically praised the region’s push to mobilise local capital and foster self-reliant growth, urging the six regional development commissions to adopt their template.

Advertisement

The message is clear: reducing dependence on federal allocations and oil rents is no longer optional, it is the path to dignity and sustainable development.

Yet nuance demands caution. Skeptics will recall past summits, master plans, and billions pledged that evaporated into reports and photo-ops.

 Youth unemployment remains painfully high; environmental remediation lags; and trust between communities, government, and investors is still fragile. 

Advertisement

Roadshows across the Delta states, Abuja, and Lagos at some point will definitely amplify the mission, thereby turning ideas into bankable projects, but execution will test whether discipline and speed can match the ambition. As Edebiri emphasised, the shift from “ambition to implementation” is everything.

Still, the human stakes are unmistakable. 

Picture a young woman in Yenagoa who once saw her family’s fishing nets come up empty because of pollution; today she eyes training in aquaculture under blue-economy initiatives.

Advertisement

Or the engineering graduate in Uyo who once joined restive groups out of frustration but now dreams of a manufacturing startup backed by summit-linked investors. 

These are not abstract statistics – they are the 500,000 jobs, lives that could move from survival to aspiration if the pieces align.

As Port Harcourt prepares to host investors, business leaders, CEOs, development finance executives, members of the diplomatic community, heads of MDAs, young innovators, exhibitors, media practitioners, policy analysts, changemakers, and members of business membership organisations, the Niger Delta stands at a crossroad. 

Advertisement

The oil rigs will not disappear overnight, but value-chain optimisation remains part of the transition. Indeed, the narrative is broadening. 

What was once dismissed as a region of perpetual crisis is quietly positioning itself as a diversified engine of national economic growth, rooted in agriculture, innovation, and human capital rather than a single extractive resource.

The world is watching. The Niger Delta is home to over 30 million people and the economic engine of Nigeria.

Advertisement

It contributes more than 90 percent of Nigeria’s oil revenue, and holds the vast majority of the nation’s gas reserves. Even with the immense natural wealth, the region remains economically underserved.

NDCCITMA was established with a mandate to facilitate rapid, even and sustainable development of the Niger Delta into a region that is economically prosperous, socially stable, ecologically regenerative, and politically peaceful.

The chamber serves as the private sector implementation arm of the region’s development strategy to attract investment, marking a critical pivot from aid-based development to enterprise-driven growth.

Advertisement

If the summit delivers even a fraction of its promise, the creeks that were once a major security flashpoint, may yet sparkle with a new possibility of attracting investors from around the world for the Niger Delta people and Nigeria.

Also read: Nigerian Banks Drive Strong Growth After Bold Recapitalisation Boost

Clearly, the journey beyond oil has begun which marks a new dawn of development for the region.

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Opinion

Tributes to Dr. Segun Osoba and Abosede Oluwayemisi

Published

on

Dr. Segun Osoba

By Bola BOLAWOLE, 

Dr. Segun Osoba, Marxist scholar and historian, was one of my mentors and role models. Our paths crossed long before I came face-to-face with the enigma at the then University of Ife, now Obafemi Awolowo University, Ile-Ife, where he not only taught me courses in the History department, but was also our staff adviser and comrade.

Advertisement

Also read: Folarin Balogun Linked With Tottenham Move Amid Transfer Talks

Cerebral and unflinchingly principled, Osoba snubbed the usual hussle, if I may call it that, of many academics to attain to the professoral status, preferring to remain “Dr.” even though everyone knew he was not the mate of many a professor!

For me, Osoba’s fame travelled far ahead of him. Appointed by the Murtala Muhammed regime into the Constitution Drafting Committee in October 1975, Osoba, together with his ideological soulmate, Dr. Bala Usman of the History department of the Ahmadu Bello University (ABU), Zaria, broke ranks with the other members of the CDC to author a people-oriented draft Constitution that made the Nigerian people’s interests, aspirations and well-being its focal point. It was termed the Minority Report.

Expectedly, the conservative Olusegun Obasanjo regime that succeeded Murtala Muhammed rejected the Osoba/Bala Usman report while accepting the report of the majority members of the CDC on September 14, 1976. The CDC was chaired by Chief FRA Williams.

Advertisement

The majority/minority report divide apart, the CDC was not without its controversies: The sage, Chief Obafemi Awolowo, had declined to serve on the committee, thereby reducing its members from 50 to 49. There was also the debate as to what would have been the choice of a much more radical Murtala Muhammed had he not been assassinated on February 13, 1976.

Specifically because of Osoba and Bala Usman, I chose to study History in the university! And I was fortunate to drink from the fountain of knowledge at the feet of Dr. Osoba on and off the classroom. As comrades, our relationship did not end at Ife; usually, comradeship is a life-long endeavour.

In late December 2023, after a spell of ‘long-time-no-see’, four of us old students/comrades of Comrade Osoba decided to visit him at his Ijebu-Ode residence – Femi Falana, SAN; Ambassador Ayo Olukanni; Kayode Komolafe (K.K.) and my humble self.

Advertisement

Comrade was still his very sharp and humorous self. Despite his health challenges, he still “recognised” each and everyone of us by our voice. We discussed for hours and it was amazing that ill-health spared his intellect. He was his familiar self – analytical, even if caustic, going down memory lane and recalling facts and figures as if he was reading them from a book spread out before him.

We promised to return. Unfortunately, we procrastinated, despite Olukanni’s repeated prodding. But as individuals, we attended his 90th birthday celebration held at Ijebu-Ode on 9th January, 2025. His book, “Critical and Contentious Issues in the Modern and Contemporary History of Nigeria: Collected Writings of Samuel Olusegun Osoba”, which was unveiled at the occasion, adorns my Library. See also my “Tributes to Comrade (Dr.) Segun Osoba at 90”, published in this column in the Wednesday, 15 January, 2025 edition of the New Telegraph newspaper.

Dr. Osoba passed away peacefully at home in Ijebu-Ode on 14 May, 2026. A flurry of activities by comrades from all the nooks and crannies of this country as well as abroad celebrated his life, extolled his virtues, pledged to continue the struggle from where he stopped, and bid him farewell from this earthly plane. In this were the words of Che Guevara fulfilled: “Wherever death may surprise us, let it be welcome, provided that this, our battle cry, may have reached some receptive ear and another hand may be extended to wield our weapons (Message to the Tricontinental, 1967).”

Advertisement

I was unable to participate fully in some of the activities because of the tragedy that fell at my doorsteps at about the same time.

First, my elder sister’s husband, Gabriel Alani Olusola Omiyale, died on June 11, 2026 at the age of 89 years. He was a mentor. Then came the bombshell: His daughter – and my sister’s second child, Abosede Oluwayemisi – died the same month on June 29th at the age of 54!

That was massive! To say we were devastated is an understatement. If the pains that attended Bose’s death remain indescribable, the ways and manners of her husband and his family immediately before and after her death remain a puzzle. They rubbed insults on our injury.

Advertisement

They desecrated our Yoruba customs and traditions. Bose had heroically battled the scourge of breast cancer; after undergoing an operation, we were all optimistic she was on the path to full recovery until tests showed she needed more medical attention.

Naturally, she was devastated but, gradually, she built up the confidence and strength required to see her through. No stone was left unturned by her extended family who did not leave the load for the husband and his family to carry. All hands were on deck.

The extended family had always been there for Bose. Her siblings had been wonderful; never allowing her husband’s unstable job situation to show or affect Bose’s treatment and other needs, including her children’s education and welfare. I also played my part. I am grateful to everyone who responded to our clarion call in many ways.

Advertisement

We were hopeful we would all pull through it and that Bose’s case would be another testimony that cancer can be beaten. All she needed – as much as medicare – were words of encouragement and support. That, however, became the weakest link!

Act one: Against the best advice of her mother, my niece was made to consume a concoction that turned the tide. According to her husband, the concoction was procured by his own brother in Akure, Ondo state, taken to a church for prayers after which it was dispatched through a motorpark! Bose drank this concoction and started vomiting. In his own testimonies, Bose’s husband took her to a hospital where she was given drips, which gave her some strength, but because the doctor was late in coming, he took her back home despite the fact that the test they ran indicated that she had a blood infection! That night at home, she started vomiting again and, according to the husband’s testimony, he took her again to the hospital by 1.30am. She was left unattended until late afternoon when she fell into a coma! Bose’s blood infection was never treated until she passed away!

Act Two: Our standard practice had been to always double-check whatever a doctor said or prescribed, but on this fatal day, Bose’s husband kept all of us in the dark. We were not told of the blood infection. We were not alerted when she started vomiting again in the night. We were not informed when he took her again to the hospital. According to him, Bose walked with her own legs into the hospital, climbing the row of stairs all by herself.

Advertisement

Act Three: At the hospital, the husband took Bose’s phone and locked it in the car parked downstairs. So she had no access to her phone – to call out or receive in-coming calls. She was held incommunicado. And there was no one else there with the husband and wife. He called noone; he also snubbed repeated incoming calls into his own phone, including from my elder sister, who is Bose’s mother.

Act four: Later that afternoon, the husband called me to say Bose was not responding to treatment and that I should start interceding for her. I was aghast! I had been waiting all day for them to link up with me for a scheduled appointment. Later, a female voice using the husband’s phone called me to quickly come to the hospital. I was on my way there when Bose’s second child, a girl writing exams at the Obafemi Awolowo University, called me, sobbing! “Daddy, what is happening to my Mom? My Daddy called me and said my Mummy is in coma” Coma! “Yes, sir”, the girl replied, “and my Daddy said my Mummy is dead!” I almost lost control of the wheel because I was driving.

Act Five: On getting to the hospital, they had already started embalming Bose! I screamed at the husband, but the hospital staff restrained me. Why the haste? Without any of her family members present! A thousand thoughts ran riot in my head. At 6.28 pm, Bose’s mortal remains were deposited in the morgue and we left.

Advertisement

Act Six: While we were agonizing about how to break the sad news to Bose’s mother, her husband and his family had posted Bose’s death on every conceivable social media platform, breaking the news to her young children, the oldest of whom is just a little over 20 years while the youngest is 14!

Act seven: We the siblings of Bose’s mother wanted a decent burial for her. We wanted her dreams and visions for her children respected. Bose’s husband and his family spurned all of that! They weaponized Bose’s young children against us. They threw their so-called customs and traditions in our face at every turn – as if the Yoruba have no customs and traditions. They employed deceit and subterfuge and hurriedly committed Bose to mother earth without any of her family members present! We warned! They ignored and played games!

Google says Edema is a name answered by both the Urhobo and Itsekiri people of Delta state. Does their culture permit the trumping of Yoruba customs and traditions? Should a husband boast to his children – while their mother was still battling cancer – that, if she dies, he will remarry? So, expect his wedding invitation!

Advertisement

Also read: Folarin Balogun Linked With Tottenham Move Amid Transfer Talks

Had Bose died of cancer, our pains would have been less insufferable; but she did not! Were they tired of the stress and wanted closure so they could move on with their own life? Hastened to her death! Hurried to the grave! This is to put the records straight. Our immediate attention, however, is the good health of Bose’s mother – and Daddy Omiyale’s burial slated for 29th and 30th of October this year.

Let Dr. Segun Osoba rest in power! And eternal rest grant Abosede Oluwayemisi Edema (nee Omiyale), O Lord!

 

Advertisement

(Published in the TREASURES column on the back page of the Wednesday, 5 August, 2026 edition of the New Telegraph newspaper).

Advertisement
Continue Reading

Trending