Fubara Signs Executive Order To Create Rivers State Investment Promotion Agency

Governor Siminalayi Fubara of Rivers State, on Monday, signed Executive Order Number 2, 2024, to establish the Rivers State Investment Promotion Council.

The draft order was presented to Governor Fubara for his approval by the State Attorney General and Commissioner for Justice, Dagogi Iboroma, in the executive council chamber at Government House, Port Harcourt.

Governor Fubara stated that this action follows the recommendations from the State Economic and Investment Summit committee held in May. He stressed the need for a centralized hub where investors can obtain information and guidance on investments.

The Governor highlighted that the initiative reflects his administration’s dedication to improving the state’s economic environment.

He also announced that the agency’s board would be formed soon and expressed optimism about attracting significant investments, particularly in the agriculture and healthcare sectors.

According to him, reducing the cost of living significantly would alleviate about 70% of the country’s current issues.

Governor Fubara said, “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 has 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.”

Governor Fubara emphasized that his administration is committed to fulfilling its promise of revitalizing Rivers State’s economy.

Therefore, he stated, the signing of the Executive Order is just the beginning. He is committed to seeing the process through to completion to meet the expectations of the people of Rivers State.

“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 expressed gratitude to the Attorney General and Commissioner for Justice, Dagogo Iboroma, SAN, and other contributors who ensured the implementation of the committee’s recommendations.