By Paul Williams
Investors in Rivers State have set their eyes on Africa’s $3 trillion market, in a bid to take advantage of the opportunities offered by the African Continental Free Trade Area (AfCFTA).
This was as the Siminalayi Fubara-led administration has expressed commitment to “re-industrializing the state” and promoting the growth of the ‘Rivers product.’
Governor Fubara, while addressing the entrepreneurial class at a seminar in Port Harcourt, on Wednesday January 28, 2026, emphasized the need to wean the state of its over-dependence on oil and gas, while expanding the contributions of the non-oil sector to its Gross Domestic Product (GDP).
Fubara, who was represented by his deputy, Professor Ngozi Odu, said the theme of the seminar, ‘Ease of Doing Business – The Role of Government,’ resonates with his administration’s commitment to removing bottlenecks that hinder the smooth operation of businesses in the state.
He reminded members of the Rivers Entrepreneurs and Investors Forum (REIF), which group had organised the seminar, that the growth of businesses and the economy is a collaborative venture between government and the private sector, stressing that his administration believes in strengthening institutions that will enable potential investors take advantage of the huge economic potentials available in the state.
Fubara agreed that government has a significant role to play in the promotion of ease of doing business, signalling his administration’s resolve to hit the ground running on this. He however stressed that the private sector must actively engage with government, collaborate and take advantage of the “hidden potentials” in the state, in a shared bid to promote economic development.
He described the seminar as a platform for constructive dialogue on the economic future of Rivers State, and was capable of offering solutions to making the state a preferred destination for investors. He however urged the participants to ensure the narrative and outcomes from event achieve the purpose of promoting the business environment in the state.
Managing Director of Nigerian Export import Bank (NEXIM), Abubakar Bello, who was keynote speaker at the event, said Rivers State should lead the South South region of the country away from reliance on oil and gas, in what he described as “non-oil revolution.”
He described Rivers State as an economic hub in the country, adding that it should take advantage of the fact that its is a littoral area, in the bid to reshape its economic expectations and capabilities.
Bello stressed that government, as the regulator, has the cardinal role of creating policies and strengthening institutions that would promote the ease of doing business and economic development.
He listed infrastructure deficit, policy inconsistencies, high logistics index and the digital imperative as some of the major challenges militating against ease of doing business, urging governments to see the businessman as an ally rather than an adversary.
The NEXIM boss urged Rivers government and the entrepreneurial class to look towards the international market, such as the African market, with its 1.3 billion people and $3 trillion in GDP, made available by the AfCFTA, to grow what he described as “Rivers goods”.
He reiterated the idea that Rivers should lead the South South in promoting economic development, adding that in line with this, NEXIM Bank would be interested in setting up a regional office in Port Harcourt.
Bello assured the Rivers State governor of the bank’s commitment to partner with it in developing the state’s economic potentials and also enable it lead the non-oil revolution in Nigeria.
President of Rivers Entrepreneurs and Investors Forum (REIF), Mr. Ibifiri Bobmanuel, said Rivers State holds the key to repositioning Nigeria for economic development.
He said the development of Nigeria’s true economic potentials lies with the private sector, adding that the seminar sought to change the economic trajectory of the state.
Bobmanuel urged political leaders to close ranks, come together to develop Rivers State, adding that a situation where leaders sing discordant tunes does not augur well for the development of the state.
