Rivers: Fubara woos investors into oil and gas

From Tony John, Port Harcourt

Governor Siminalayi Fubara has said Rivers State remains the best investment destination for investors in the oil and gas sector.

Fubara stated that since the economic development of Rivers State is closely connected to the growth of the oil and gas industry, his administration has continued to collaborate with the Federal Government and host communities to protect natural assets in the sector.

The governor stated this during the Nigeria and Entrepreneurship Summit and Honours (NESH) Foundation Oil and Gas Roundtable in Port Harcourt on Tuesday.

Represented by the Secretary to the State Government, Benibo Anabraba, the governor pointed out that since the economy of Nigeria relies substantially on the oil and gas sector, his administration would continue to collaborate with relevant stakeholders to ramp up production.

He said: “The Nigerian oil and gas sector is the lifeblood of our nation’s economy, contributing over 90 percent of Federal Government’s foreign exchange earnings.
“Similarly, Rivers State, home to numerous national and multinational oil and gas companies, is the centre of Nigeria’s hydrocarbon industry, with the State’s oil and gas resources generating over 40% of the country’s revenue.
“Considering this, the survival and economic development of Rivers State are closely connected to the growth of the oil and gas industry. That is why, since the beginning of this administration, we have focused on safeguarding the national oil and gas assets in collaboration with the Federal Government, security agencies, communities and other stakeholders, and we will maintain this commitment for as long as it is necessary.”

Fubara stressed: “Furthermore, we have established and maintained a conducive, peaceful and secure environment for companies to open and flourish in the State as part of a strategic plan to stimulate our economy, generate jobs, and enhance the well-being of our citizens.
“We, therefore, recognise and applaud the vital role that indigenous companies are currently playing in bridging gaps and advancing the development of Nigeria’s oil and gas industry.”

Governor Fubara affirmed that Nigerian-funded companies can only succeed and make meaningful contributions to the nation’s economic prosperity when challenges that limit the nation are effectively tackled.

He expressed his administration’s decision to support indigenous organisations such as the Nigeria and Entrepreneurship Summit and Honours (NESH) Foundation.

Declaring the roundtable open, the governor assured the Nigerian-owned companies in the oil and gas sector that “we are ready and willing to respond positively to any administrative, policy, or legislative recommendations within our jurisdiction as a subnational state.”

The founder of the Nigeria and Entrepreneurship Summit and Honours (NESH) Foundation, Mr Emeka Ugwu-Ozu, disclosed that the summit, held only in an oil and gas producing place, is a forum for all in the industry to brainstorm and suggest best practices for local players.

He stated, “This roundtable discussion takes place in only oil and gas-producing states, and it is intentional. And that is to make sure that sooner, it becomes like what we say is the equivalent of Houston in the United States of America.
“I would say that from what I have seen so far, Rivers State is back and open, safe, and good for business. The oil and gas players should come and see what we have seen.”