Gov Oborevwori Will Mark One Year In Office With $1bn In FDIs, Says Ofehe

The Executive Assis­tant on External Relation and Di­aspora Affairs to the Delta State Governor, Dr Sunny Ofehe, has expressed optimism that Governor Sheriff Oborevwori-led administration would mark it first one year in office with a minimum of $1billion inter­national investment for 2024.

Ofehe stated this in Asaba, the state capital while addressing newsmen after a meeting with Secretary to the State Government (SSG), Mr. Kingsley Emu.

He disclosed that by the time the Governor is celebrating one year in office by April 2024, Delta will be ahead of many states in terms of FDI.

He expressed the governor’s commitment to fulfilling his ‘MORE Agenda’, which includes attracting investments in key sectors such as oil and gas, housing, and agricultural sector.

Notably, Ofehe disclosed that the state has already secured a $400 million investment for a modular oil and gas refinery with a daily production capacity of 20,000 barrels of crude oil.

Ofehe hinted that plans are underway to address the housing shortage by constructing 2,500 mega cities, as well as establishing assembling plants for agricultural equipment to boost mechanized farming.

“The opportunities we have in Delta are enormous so we can take advantage of his huge potentials, sell this potentials to the world, tapped into the potentials that our growing youths have and create enabling environment for this investors.

“I want to ensure that we achieve this and the Governor is open, wanting to let all of these to come in to fulfill his ‘MORE Agenda’ political promises to Deltans.

“We have be able to attract investment in the area of a modular oil and gas refinery. 20,000barrel crude oil per day production. That has been secured of about $400million.

“We also have housing shortages in the state and we want to de-urbanise the big cities so we have investors coming to build 2500 mega city.

“We also have German investors who want to set up assembling plant of their Agro-tractors equipment for farmers. This is to enhance mechanise farming that will increase agricultural output in the state.

According to him, the goal of the Oborevwori administration is to transform Delta State from an import-dependent economy to an export-dependent one.

Ofehe emphasized that the Agro-tractors equipment project would include knowledge transfer and the development of human capital, particularly among the youth.

He also hinted about investments in renewable energy, particularly solar power, with two companies expressing interest in generating and supplying energy to the national grid or private homes and estates.

“We also have investors in the area of renewable energy which includes solar power. We have two companies that want to come in to acquire land and generate energy through solar to either supply the national grid or sell to private homes and estates. They have all done their due diligence and know how they will get their return on investment.

He emphasized that these investment opportunities align with the ‘MORE Agenda’ and expressed his confidence in the governor’s honesty and dedication to the welfare of the state.

Regarding equity share and capital injection, Ofehe stated that this would not be a problem as the investors are bringing in their own capital.

“All of this investment opportunities that my office is bringing in are in line with the MORE Agenda. I have critically looked at the MORE Agenda, I have studied it and I know the MORE Agenda is achievable and that’s why I even accepted to serve him in his administration and I’m bringing all of these investments to add value to the MORE Agenda.

“His Excellency is somebody I never got to know before the elections but now that I know him I am very much committed to work with him to achieve his goals because I know he is honest, truthful and have the yearning of the state in his heart.

Ofehe assured that the state government is fully committed to supporting and ensuring the success of companies investing in Delta State.

He averred that the state government’s contribution may be in the form of land allocation and ensuring a conducive business environment.

“This projects are purely private sector driven with government coming in any form of equity with what they’re bringing in as contribution that will probably given them certain percentage stake in the business. So there is transparency because they’re foreign companies, they have laid down standard to follow in terms of ethical standards and what we are adding to it is that a minimum of two percent will be set aside for corporate social responsibility for host communities development from the off take”.

He also mentioned that a Memorandum of Understanding will be entered into with the investing companies to allocate a minimum of 2 percent for the development of host communities as part of their corporate social responsibility.

Ofehe, however reiterated that Governor Oborevwori’s first year in office is poised to be marked by significant foreign investments, aiming to boost the state’s economy and create opportunities for growth and development of the state.