Fubara: We’ll Build Brighter Future For Our Children And Grandchildren 

● With a GDP of $28.4bn, Rivers is second largest economy in Nigeria

By PHC Telegraph

Governor Siminalayi Fubara has vowed to initiate policies and programmes which will guarantee a better future for children born in Rivers State.

Delivering a speech at an Economic Summit organised in Port Harcourt, the Rivers State capital, Fubara said his administration is  committed  to building a “brighter future for our children and grandchildren.”

The Governor’s declaration is coming against the backdrop of the relative encouragement that his administration has resolved to give to young entrepreneurs in the State through soft loans.

 

“Our commitment is unwavering, and with the collaboration and support of all, we will collectively harness the economic potential of Rivers State to achieve considerably high and sustainable economic growth and prosperity in the coming decade and build a brighter future for our children and grandchildren”, the Governor remarked.

He said that the intention of the Rivers State Government is to make the State the best place to invest and do business.

This, he assured through the deliberate creation of a vibrant, investor-friendly business environment which will enhance wealth, growth, income and employment.

According to him, Rivers State, which is the second largest economy in Nigeria, with a nominal GDP of over $28.4 billion is fully ready for business.

He revealed that the State’s economy which is comparative to the economies of  Rwanda, Botswana and Gabon ranks among the top 25 economies in Africa.

Fubara explained that the summit hosted by his group was intended to promote avenues for the flow of local and foreign investments in the direction of the Rivers economy.

He also disclosed that the summit would provide an opportunity for the government to listen to experts, exchange ideas, raise questions and receive answers to the economic and investment challenges that are facing the State.

“Historically, Rivers State, especially Port Harcourt, was an established commercial centre in Nigeria. The Trans-Amadi Industrial Layout hosted several thriving commercial and industrial concerns that created income, jobs, and prosperity for our State and people.

“Sadly, all that is now history as most of the industrial ventures in that estate have either closed shop or become moribund. The industrial estate is now characterised by abandoned factory buildings and warehouses” Fubara hinted.

The Rivers helmsman said such a situation has not been without dire consequences that retarding the growth and prosperity of the State.

“We have since lost our rating as one of the industrialised States and competitiveness as a preferred destination for domestic and foreign direct investments”, the Rivers Governor stressed.

He emphasised that this has resulted “in the continuous posting of low economic growth, high unemployment rate and slow development.

“For us, building a resilient, robust, and diversified economy holds the key to sustainable peace, security and progress of our State and the spiritual, social, and physical well-being of our people.”

Fubara stated that his administration which is barely one year in office is more concerned about development oriented issues instead of a needless pursuit of a political rivalry that is designed to scuttle progress and physical development.

“Against this background:, Fubara pointed out, “I feel very optimistic that Rivers State will emerge from this summit and position itself as a premier investment destination, offering boundless economic opportunities for domestic and global investors.

“As a State, Rivers State is blessed with enormous human and natural resources, including oil and gas, fertile soil, solid minerals, and an extensive coastline with great water bodies.

“The State is the centre-point of the oil and gas industry in West Africa. We account for over 40 per cent of crude oil production onshore in the country and 100 per cent of liquefied gas that the country exports.”

The governor said, “our focus at this time is to grow our economy to greater heights so that we can derive more tax revenues to deliver quality social services to our people.

“Our mantra is ‘Rivers First’. Our covenant and commitment are to serve our people to the best of our ability with compassion, honesty, and responsibility.”

Fubara lauded the former governor of Cross River, Donald Duke for accepting to chair the programme despite what he referred to as his tight schedule.