FG Sets Up 15 billion naira Facility for Investors in the Niger Delta

In an effort to meet up with its detetmination to improve and encourage private sector involvement in the revival  of moribund industries in the Niger Delta region, the Federal Government  has made available, a facility of 15 billion naira  through the  Bank of Agriculture, Bank of Industry, Nigeria Export-Import Bank and New Partnership for Africa’s Development.

 The  facility, according to a statement signed by the Director of Press, Marshal Gundu, is to be accessed by  qualified and serious minded investors.

The facility, according to the Ministry of Niger Delta Affairs, is  part of government's determination to diversify  the nation’s economy; create job opportunities and revitalize  the economy through improved  productivity of the nation’s industries, agricultural and manufacturing sectors.

Making this known on Tuesday, in Imo state, the Honourable Minister of Niger  Delta Affairs, Pastor Usani Uguru Usani when he led a delegation of the Presidential Economic Diversification Mission of the Niger Delta region to the state.

Among the delegation was the Minister of State for Niger Delta Affairs, Prof. Claudius Omoleye Daramola was also on the entourage.

Pastor Usani who disclosed that the initiative  was not just for the Niger Delta alone but that the region was "a litmus test for the viability of the initiative before it is extended to other parts of the country".

Nguru Usani charged investors to take advantage of the various business opportunities the initiative presents as government is committed to making the business environment conducive for them as there will be no government interference, except where and when necessary.

"The role of the Federal Government was to facilitate the success of the programme, the state governments were to create enabling environments for the investors while they are to take advantage of the business opportunities that would be created", he added.

Imo state governor, Owelle Rochas Okorocha, in his remarks, expressed delight at the initiative as it will help reduce the poverty level in the state.

The Governor assured that he would  ensure that bureaucracy  was eliminated to ensure the success of the programme.

Governor Okorocha enjoined the investors  to invest massively in the agricultural sector as the soil was fertile. He also called on investors to invest in the state’s huge gas deposits.

Chief Executive Officer of New Partnership for Africa’s Development, Princess Gloria Akobundu expressed hope that the government of Imo State would  leverage on the opportunities of the Mission by ensuring the right investments, especially in the rural areas.

If jobs were not created, the country would continue to experience youth restiveness, she stressed while also urging the Governor to set up a technical team to "work on what was said today in order to us companies, local and foreign".

Akobundu indicated their willingness to get involved with the initiative after a tour of moribund factories, farms and industries in the state.

 Some of the  moribund industries to be resuscitated in Imo State are; Imo Modern Poultry, Imo  Oil  Palm Plantation, Imo Rubber Plantation, Imo Cashew Plantation, Cassava farms, Acharaubo Farm, Imo Tiles, Imo Clay Products, Imo Standard Shoe Company Limited.