Delta urges investments beyond oil to diversify economy

File: Delta Governor Sheriff Oborevwori

Delta State Governor, Sheriff Oborevwori, on Tuesday said the state could no longer rely solely on oil revenue, urging local and foreign investors to explore opportunities in agriculture, mining, energy, technology and other sectors capable of driving sustainable economic growth.

The governor spoke at the close of the second day of the 2026 Delta State Economic and Investment Summit in Asaba. He said discussions during the summit had reinforced the need for Delta to diversify its economy by attracting strategic investments into sectors where the state has strong competitive advantages.

“We can no longer depend on one source of revenue. We must diversify our economy by attracting strategic investments into sectors where Delta State has a clear comparative advantage. That is the pathway to creating jobs, growing businesses and improving the quality of life of our people,” Oborevwori said.

He thanked local and foreign investors, development partners and other participants for attending the summit, expressing confidence that the event would attract investments capable of transforming the state’s economy.

The governor said business sessions on agriculture and livestock development, energy, the blue economy, transport infrastructure, solid minerals, the digital economy and legal reforms had revealed enormous untapped investment opportunities in the state.

According to him, the summit was deliberately designed as a private sector-driven initiative aimed at connecting investors with bankable business opportunities rather than serving as another government event.

“This summit is not a talk show. It is a practical platform that connects investors with bankable opportunities and turns investment interests into real projects,” he said.

Oborevwori said the responsibility of the government was to create a business-friendly environment through improved infrastructure, security, consistent policies and stronger partnerships with the private sector.

He disclosed that the state had already secured land for key investment projects and embarked on investment roadshows to countries including China and Brazil to market Delta’s economic potential.

The governor expressed optimism that the partnerships and commitments made during the summit would lead to new industries, more jobs and increased economic activities across the state.

Earlier, during the panel sessions, experts identified agriculture, livestock, mining, the blue economy and legal reforms as critical sectors for attracting sustainable investments.

Former South-South Vice President of the Poultry Association of Nigeria, Chief Eta Enahoro, urged the state government to prioritise investments in poultry and fish production, saying the sectors have the capacity to create thousands of jobs.

“Many young people looking for political appointments can become successful entrepreneurs if they are supported to establish poultry and fish farms,” Enahoro said.

Brazilian agribusiness investor, Roberto Fonseca, also unveiled plans to partner with the Delta State Government to develop a modern cattle and beef value chain. He said the proposed partnership would cover cattle breeding, ranching, slaughterhouses, beef processing, cold storage and distribution networks.

Fonseca noted that Delta’s climate and environment were similar to those that helped Brazil become one of the world’s leading beef producers. “Delta has the natural conditions to become a major livestock production hub serving Nigeria and neighbouring African countries,” he said.

Speaking during the blue economy session, Dr Uche Igwe called on the state government to tackle illegal and unregulated fishing to unlock the full economic potential of its waterways.

Also, the Managing Director of Mosra Energy, Ramos Olukayode, disclosed that Delta has more than 200 million tonnes of coal deposits in Obomkpa, Ugbodu and Ukunzu. He described the deposits as a major asset for the state’s industrialisation drive and revealed plans to establish a 600-megawatt power plant in Obomkpa.

According to him, more than 200 hectares of land have already been secured for the project, while the area also has abundant kaolin and clay deposits that could support manufacturing industries.