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Vice President Kashim Shettima has declared Delta State one of Nigeria’s most promising investment destinations, urging local and foreign investors to take advantage of the country’s improving economic outlook as reforms by the Federal Government continue to restore investor confidence.
Shettima spoke on Monday at the opening of the Delta State Economic and Investment Summit 2026 in Asaba, where Governor Sheriff Oborevwori also announced a $100 million Viability Gap Fund designed to de-risk private sector investments and accelerate economic growth in the state.
The Vice President said the economic reforms introduced by President Bola Tinubu’s administration had strengthened macroeconomic stability, improved Nigeria’s international credit standing and created a more attractive environment for long-term investments.
“Every state possesses immense promise with its unique history, geography, people and comparative advantage. This is the race we must welcome, a race in which states compete to create employment, prosperity and human dignity,” Shettima said. According to him, increased federal allocations resulting from ongoing fiscal reforms have given states greater financial capacity to pursue ambitious development projects.
He added that recent upgrades by Fitch Ratings, S&P Global Ratings and Moody’s reflected growing global confidence in Nigeria’s economy.
“These are proof that Nigeria is regaining credibility, and the best time to invest is now before the opportunity becomes expensive,” he added.
Describing Delta as a “first-order investment destination,” the Vice President said the state’s greatest strength lies not only in its oil resources but also in its deliberate drive to diversify its economy.
He listed Delta’s coastline, ports, abundant natural gas reserves, refining assets, agricultural potential, blue economy opportunities and solid mineral deposits as assets capable of transforming the state into a leading industrial and commercial hub.
Shettima also commended Governor Oborevwori for convening the summit, assuring investors that the Federal Government would continue working with state governments to remove obstacles to business and support credible investments.
“We are co-travellers on the road from promise to production, from allocation to transformation, and from potential to prosperity,” he said.
In his address, Governor Oborevwori said the newly created $100 million Viability Gap Fund would help reduce investment risks and convert investment commitments into viable projects.
He explained that the summit was organised to move beyond discussions and attract real investments capable of driving industrialisation, economic diversification and job creation across the state.
The governor said the initiative followed investment promotion missions to China and Brazil in 2025 aimed at attracting strategic international partners.
Oborevwori described Delta as one of Nigeria’s most attractive investment destinations, with an economy estimated at about ₦17 trillion, citing its abundant natural resources, improving infrastructure, prudent fiscal management and investor-friendly policies.
He disclosed that the state had introduced several incentives, including waivers on tenement rates, levies and other charges for up to five years, while establishing an Ease of Doing Business Council to simplify investment procedures.
According to him, more than 12,000 hectares of land have been designated for commercial agriculture, while the state’s 163-kilometre coastline offers vast opportunities in the blue economy.
The governor also highlighted investment opportunities in gas-fired power plants, renewable energy, solar farms and mini-grid infrastructure, assuring investors that Delta remains financially stable, secure and debt-free.
He further noted that the Federal Ministry of Petroleum Resources recognised Delta as Nigeria’s Safest State for Oil and Gas Investments in 2024.
Delivering the keynote address, Director-General of the World Trade Organization, Dr. Ngozi Okonjo-Iweala, urged Delta State to take advantage of changing global supply chains, the African Continental Free Trade Area (AfCFTA) and Nigeria’s ongoing economic reforms to emerge as the country’s next industrial growth centre.
Describing herself as “a Delta State optimist,” she said the state’s natural gas resources, seaports, rail connectivity, fertile agricultural land, skilled workforce and sound fiscal management positioned it to compete with established commercial centres.
Okonjo-Iweala advised the state government to prioritise investments in the Delta Special Economic Zone, agro-processing, the blue economy, oil and gas value addition, marine logistics and digital infrastructure.
She also urged greater investment in artificial intelligence and digital connectivity to prepare young people for future opportunities.
Also speaking, Anambra State Governor, Prof. Charles Soludo, said Nigeria’s macroeconomic fundamentals had improved significantly, noting that the country had moved from capital flight in 2023 to a more stable and predictable foreign exchange environment in 2026.
He called for stronger economic collaboration between Delta and Anambra states and urged governments to make investment promotion a continuous exercise.
Pan-African scholar Prof. Patrick Lumumba challenged African governments and investors to place greater confidence in the continent’s economic potential, saying Africa has the resources, talent and entrepreneurial capacity to drive sustainable development.
Minister of Finance, Prof. Taiwo Oyedele, said the Tinubu administration’s reforms, including fuel subsidy removal and foreign exchange liberalisation, had significantly increased revenues available to states and local governments for development.
He described Delta as a natural powerhouse of the blue economy and encouraged investors to see both the state and Nigeria as prime investment destinations in Sub-Saharan Africa.
Chairman of Transcorp Power Holdings, Tony Elumelu, pledged the company’s readiness to partner with the Delta State Government to provide reliable electricity for industries and households across the state.
Chief Executive Officer of Mosra Energy, Ramos Olukayode, disclosed that Delta has more than 200 million tonnes of coal deposits in Obomkpa, Ukunzu and neighbouring communities.
Also, the Chief Executive Officer of UTM Gas Limited, Julius Rone, revealed that Delta State’s ₦42 billion investment for an eight per cent equity stake in the company in 2022 is now worth about ₦200 billion.
Rone further announced that UTM Gas would relocate its corporate headquarters to Warri when full operations begin in 2030, a move expected to further strengthen Delta’s position as one of Nigeria’s leading energy investment destinations.
