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Beyond oil: Niger Delta attracts new investments for economic growth and development

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Niger Delta

Niger Delta Summit in Port Harcourt targets $5bn investment and 500,000 jobs through diversification and innovation

By Ehi Braimah

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In the mangrove-fringed creeks and bustling markets of the Niger Delta, the scent of crude oil has long defined daily life. 

Also read: Nigeria inflation rises to 15.38% as food prices surge

For decades, the region’s nine states – Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, Rivers, and Abia – have powered Nigeria’s economy through vast hydrocarbon reserves.

Yet for many residents, that black gold has delivered more curses than blessings: environmental degradation from oil spills, youth unemployment fueling unrest, and a sense of abandonment amid federal wealth that rarely trickled down. 

Families in fishing villages watched their waters turn toxic; young graduates in Port Harcourt scanned job boards dominated by oil multinationals, only to face cycles of militancy and amnesty programmes that offered temporary relief but little lasting dignity.

Now, a quiet but determined shift is underway. 

Local business leaders are rewriting the script, betting that the Niger Delta region’s true wealth lies not just in its subsoil but in its people, rivers, farmland, and untapped entrepreneurial spirit. 

At the heart of this pivot is the maiden Niger Delta Economic and Investment Summit (NDEIS), scheduled for May 19 – 21, 2026, in Port Harcourt, Rivers State, with the theme: Driving investment, innovation, and industrial growth in the Niger Delta.

Organised by the Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA), the event carries an audacious goal: catalysing up to five billion dollars in structured investments over the next five years and creating more than 500,000 direct and indirect jobs.

Ambassador Idaere Gogo-Ogan, NDCCITMA chairman, framed the ambition plainly during a pre-summit media briefing in March 2026. “The region is ready to deliver 500,000 new jobs, inclusive of investment drive and wealth creation,” he said, describing the summit as a platform to deliberate on “investment mobilisation, enterprise growth, industrial expansion, and regional coordination.” 

President Bola Tinubu is expected as special guest of honour, with Barbados Prime Minister Mia Amor Mottley delivering the keynote, an intriguing nod to lessons from small-island economies that have thrived through diversification and resilience.

Dr. Solomon Edebiri, NDCCITMA secretary and local organising committee chairman, struck a note of pragmatic optimism. The summit, he explained, is “a strategic initiative designed to reposition the Niger Delta as a competitive hub for investment, enterprise development, and sustainable industrialisation.” While the world knows the Delta for oil and gas, its real legacy, he argued, rests on “a wealth of diverse and largely untapped opportunities” that the gathering aims to unlock.

Those opportunities are starting to crystalise. 

Discussions at the summit and related roundtables point to concrete sectors beyond crude: agriculture and agro-processing to leverage the region’s fertile soils and waterways; manufacturing and logistics to turn Port Harcourt and Warri into industrial nerve centers; blue economy initiatives harnessing fisheries, shipping, and coastal tourism; energy transition projects that optimise the existing oil-and-gas value chain (a shift toward renewable energy), and small-and-medium-enterprises (SME) scaling that could empower local entrepreneurs. 

Recent analyses echo this vision, highlighting how five billion dollars in inflows could reshape the economy by reducing oil dependency and channeling capital into youth-driven ventures in farming, light manufacturing, and services.

The Niger Delta Development Commission (NDDC) has thrown its weight behind the effort, signaling institutional buy-in for broader regional plans. 

Chairman Chiedu Ebie and Managing Director/CEO Samuel Ogbuku have championed infrastructure upgrades, skills programmes, and sustainable projects that align with the summit’s goals – efforts that extend beyond flashy announcements to the gritty work of roads, power, and training centres that make investment viable on the ground.

This local momentum dovetails with a national story of cautious investor re-engagement. 

Despite persistent security challenges, rankings on global terrorism indices, sporadic attacks in the northeast, and lingering instability in parts of the north-central zone, foreign and domestic capital is showing renewed interest in Nigeria, and the Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture is poised to announce the region to the world as a land full of opportunities for investors. 

While speaking on a recent Sunrise Daily broadcast on Channels TV, I pointed to President Tinubu’s UK visit last month and a high-level investment forum hosted by the Central Bank of Nigeria alongside the UK’s Foreign, Commonwealth and Development Office. 

Reforms such as exchange-rate unification, fuel-subsidy removal, and strengthened banking capital requirements have begun to stabilise macroeconomic indicators and rebuild confidence. 

I noted that 28 percent of recent capital inflows came from foreign investors, with 34 banks meeting the new CBN recapitalisation thresholds.

For the Niger Delta, the development agenda feels personal. During the interview, I specifically praised the region’s push to mobilise local capital and foster self-reliant growth, urging the six regional development commissions to adopt their template.

The message is clear: reducing dependence on federal allocations and oil rents is no longer optional, it is the path to dignity and sustainable development.

Yet nuance demands caution. Skeptics will recall past summits, master plans, and billions pledged that evaporated into reports and photo-ops.

 Youth unemployment remains painfully high; environmental remediation lags; and trust between communities, government, and investors is still fragile. 

Roadshows across the Delta states, Abuja, and Lagos at some point will definitely amplify the mission, thereby turning ideas into bankable projects, but execution will test whether discipline and speed can match the ambition. As Edebiri emphasised, the shift from “ambition to implementation” is everything.

Still, the human stakes are unmistakable. 

Picture a young woman in Yenagoa who once saw her family’s fishing nets come up empty because of pollution; today she eyes training in aquaculture under blue-economy initiatives.

Or the engineering graduate in Uyo who once joined restive groups out of frustration but now dreams of a manufacturing startup backed by summit-linked investors. 

These are not abstract statistics – they are the 500,000 jobs, lives that could move from survival to aspiration if the pieces align.

As Port Harcourt prepares to host investors, business leaders, CEOs, development finance executives, members of the diplomatic community, heads of MDAs, young innovators, exhibitors, media practitioners, policy analysts, changemakers, and members of business membership organisations, the Niger Delta stands at a crossroad. 

The oil rigs will not disappear overnight, but value-chain optimisation remains part of the transition. Indeed, the narrative is broadening. 

What was once dismissed as a region of perpetual crisis is quietly positioning itself as a diversified engine of national economic growth, rooted in agriculture, innovation, and human capital rather than a single extractive resource.

The world is watching. The Niger Delta is home to over 30 million people and the economic engine of Nigeria.

It contributes more than 90 percent of Nigeria’s oil revenue, and holds the vast majority of the nation’s gas reserves. Even with the immense natural wealth, the region remains economically underserved.

NDCCITMA was established with a mandate to facilitate rapid, even and sustainable development of the Niger Delta into a region that is economically prosperous, socially stable, ecologically regenerative, and politically peaceful.

The chamber serves as the private sector implementation arm of the region’s development strategy to attract investment, marking a critical pivot from aid-based development to enterprise-driven growth.

If the summit delivers even a fraction of its promise, the creeks that were once a major security flashpoint, may yet sparkle with a new possibility of attracting investors from around the world for the Niger Delta people and Nigeria.

Also read: BoI signs strategic partnership framework deal with German Int’l Agency to accelerate MSME growth

Clearly, the journey beyond oil has begun which marks a new dawn of development for the region.

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Nigeria Must Sustain Power Rotation Arrangement, Says Babarinsa

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Veteran journalist and Chairman of Gaskia Media Limited, Dare Babarinsa, has called on Nigeria to sustain its informal power-rotation arrangement between the North and South, arguing that the system remains important for political stability and national unity.

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Babarinsa said the presidency should return to the North in 2031 and move back to the South in 2039, maintaining that the arrangement should remain in place until Nigerians develop a more suitable alternative.

He made the position known on Monday, November 2, while delivering a public lecture at the Press Centre, Iyaganku, Ibadan, as part of activities marking the 60th anniversary of the Oyo State Council of the Nigerian Union of Journalists (NUJ).

Speaking on the theme of Nigeria’s political arrangement and the future of the media, Babarinsa acknowledged criticisms of the rotational presidency, particularly from those who believe that every qualified Nigerian should be allowed to contest for the highest political office regardless of region.

However, he argued that Nigeria’s political circumstances make power rotation a practical arrangement for maintaining stability, even if it may not always produce the most suitable candidate.

According to him, the arrangement emerged from political negotiations ahead of the return to civilian rule in 1999, following the deaths of former military Head of State, General Sani Abacha, and the presumed winner of the June 12, 1993 presidential election, Chief Moshood Abiola.

Babarinsa recalled that after Abacha’s death in 1998, General Abdulsalami Abubakar assumed leadership and introduced a transition programme aimed at ending military rule by May 29, 1999.

He said the death of Abiola, who was detained by the military government, created concerns about the political future of the Yoruba people and influenced discussions over the region that should produce Nigeria’s first civilian president after military rule.

The journalist disclosed that he was among members of the Idile Oodua resistance movement who supported the position that the South-West should produce the first president under the new democratic arrangement.

He said he was subsequently mandated by members of the group to consult the late Ooni of Ife, Oba Okunade Sijuwade, who told him that traditional rulers across the country were also holding consultations on the matter.

According to Babarinsa, the discussions contributed to the emergence of two Yoruba presidential candidates in the 1999 election: former President Olusegun Obasanjo of the Peoples Democratic Party (PDP) and Chief Olu Falae, who contested under the Alliance for Democracy and All Peoples Party coalition.

He also recalled that former Vice-President Alex Ekwueme disagreed with the arrangement, arguing that the South-East could not be bound by an agreement reached principally between political interests in the North and South-West.

Babarinsa said he agreed with Ekwueme’s interpretation that power should rotate between the North and South rather than among the six geopolitical zones.

He explained that the arrangement had continued through successive administrations, including the emergence of former President Goodluck Jonathan following the death of President Umaru Yar’Adua and the subsequent election of former President Muhammadu Buhari.

With President Bola Tinubu currently in office, Babarinsa argued that the existing arrangement should be sustained, with power returning to the North after the current administration and subsequently moving back to the South.

To support his argument, he compared Nigeria’s power-sharing arrangement with the confessional system adopted in Lebanon in 1943, under which key political offices were allocated to different religious communities to promote political balance.

He said Nigeria could learn from such arrangements, insisting that political compromises sometimes become necessary in countries with diverse ethnic, religious and regional interests.

“If we intend to keep Nigeria, then we need to make this special arrangement work until future generations are able to make a better arrangement,” he said.

Babarinsa reflects on Ibadan’s journalism legacy

Beyond the political question, Babarinsa used the lecture to examine the history of journalism in Ibadan and the contribution of the city to the development of Nigeria’s media industry.

He described Ibadan as a major centre of political and media influence, noting that its newspapers had produced some of the country’s most prominent journalists, editors and public commentators.

He recalled the establishment of the Nigerian Tribune in 1949 by Chief Obafemi Awolowo and the creation of the Sketch newspaper group in 1964 by the then Premier of the Western Region, Chief Ladoke Akintola.

He also highlighted the contributions of prominent journalists, including Felix Adenaike, Segun Osoba and Peter Ajayi, whom he described as the Three Musketeers of the Nigerian media during the Second Republic.

According to him, the trio wielded considerable influence in the industry through their leadership positions at the Tribune and Sketch newspaper groups.

Babarinsa also acknowledged the contributions of former journalists and columnists, including Alhaji Lateef Jakande, Chief Bola Ige, Chief Olabisi Onabanjo, Aare Afe Babalola and Dr Tai Solarin.

He said the history of journalism in Ibadan was closely connected to the political development of the country, recalling the debates on issues such as the International Monetary Fund loan, diarchy and rotational presidency.

The journalist urged members of the profession to preserve that tradition by ensuring that the media remained a platform for informed public debate and the promotion of ideas capable of strengthening Nigeria.

Media organisations urged to embrace digital transformation

Addressing the challenges facing the industry, Babarinsa warned that traditional media organisations must urgently adapt to the changing media environment or risk losing relevance.

He said the internet had disrupted conventional news production and distribution, creating new opportunities while also allowing unregulated online platforms to compete with established media organisations.

According to him, several traditional newspapers have established online platforms, but their digital presence has not translated into the level of revenue needed to sustain their operations.

He cited the decline of once-dominant media organisations such as the Daily Times and Sketch as examples of the changes that have reshaped the industry.

Babarinsa recalled that Sketch newspaper had a daily circulation of about 60,000 copies during the 1970s and 1980s but had since ceased publication, with its former premises converted into a shopping mall.

He also expressed concern over declining newspaper readership among young Nigerians, warning that a society with an increasingly uninformed population could struggle to appreciate and defend democracy.

The Gaskia Media chairman said media organisations must follow their audiences into the digital space and develop business models that can sustain quality journalism.

He disclosed that his organisation had also decided to strengthen its online presence through the publication of a digital magazine, beginning with an online news blog.

Journalists urged to defend democracy and uphold professional standards

Babarinsa further reminded journalists of their role in Nigeria’s democratic development, particularly during the struggle against military rule.

He said members of the Nigerian press had suffered imprisonment, exile and other forms of persecution in the fight for the restoration of democracy, with some journalists paying the ultimate price.

He maintained that journalists therefore had a responsibility to protect the democratic system and ensure that the country’s electoral processes remained credible.

With the 2027 general election approaching, he urged media professionals to play their part by providing accurate information and encouraging informed public participation.

The Independent National Electoral Commission has scheduled the presidential and National Assembly elections for January 16, 2027, while governorship and State Houses of Assembly elections are fixed for February 6, 2027.

Babarinsa said journalists must remain committed to the fundamental principles of the profession, stressing that factual accuracy should remain central to news reporting while allowing room for responsible advocacy.

He urged journalists to advocate for the national interest, rather than restrict their work to positions that may be politically convenient.

Calls for greater inclusion of young journalists and women

Looking towards the future, Babarinsa called for greater opportunities for young journalists and women in the profession, saying the industry must deliberately prepare a new generation of media leaders.

He cited the careers of prominent journalists who assumed major editorial and management positions at relatively young ages, including Peter Enahoro, Olusegun Osoba, Yemi Ogunbiyi, Yakubu Mohammed, Ray Ekpu and Adamu Ciroma.

According to him, the history of Nigerian journalism demonstrates that young professionals have consistently played important roles in driving the industry forward.

He urged established media practitioners to listen to younger colleagues, particularly members of Generation Z, and create opportunities for them to contribute to the future of the profession.

Babarinsa also called for more deliberate efforts to bring women into leadership positions, noting that the industry could no longer remain dominated by men.

He expressed optimism about the future of journalism, despite concerns over poor remuneration, declining newspaper circulation and competition from digital platforms.

The veteran journalist concluded by urging the profession to embrace change, drawing attention to the need for innovation in newspaper production, technology and audience engagement.

Quoting a principle he attributed to Professor Ladipo Adamolekun, Babarinsa said the media industry must adapt to changing realities to remain relevant.

“Adapt or Die!” he declared.

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