ASABA, DELTA STATE — In a major move to accelerate industrialization and boost investor confidence, Delta State Governor, Rt. Hon. Sheriff Oborevwori, has announced the allocation of $100 million (approximately ₦133.8 billion) as a Viability Gap Fund to de-risk new private sector investments in the state.
Governor Oborevwori made the disclosure on Monday during his opening address at the Delta State Economic and Investment Summit 2026, taking place at the Dome Event Centre in Asaba.
Addressing local and international investors, corporate leaders, and development partners—including Vice President Kashim Shettima and WTO Director-General Dr. Ngozi Okonjo-Iweala—the Governor emphasized that the liquidity intervention is ready for immediate deployment.
"We Are Not Borrowing This Money"
Clearing up speculation regarding the source of funding, Governor Oborevwori stressed that the state government is not taking on external debt to finance the initiative.
"The government has set aside 100 million dollars (₦133.8 billion) as viability gap funding to de-risk new investments in the state. We are not borrowing this money. The money is there. This is a practical demonstration of our total commitment to ensuring that the agreements reached at this summit are executed without delay," Governor Oborevwori stated.
The Viability Gap Fund is designed to support high-impact infrastructure and industrial project partnerships, bridging capital requirements and guaranteeing that signed Memoranda of Understanding (MOUs) transition quickly into active operational developments.
12,000 Hectares Cleared for Commercial Agriculture & Marine Economy
In addition to the financial commitment, the administration announced major land allocations to drive its agro-industrialization agenda. Over 12,000 hectares of farmland have been earmarked specifically for prospective commercial investors.
"Investment opportunities abound in the value chain production of cassava, oil palm, rice, potato, and other cash crops. In preparation for this summit, over 12,000 hectares of farmland have been marked for agricultural development for prospective investors," the Governor declared.
Oborevwori also highlighted the state's vast coastline and aquatic resources, urging investors to leverage opportunities in the emerging blue economy—spanning maritime logistics, aquaculture, and port-related investments.
Tax Reliefs and Improved Security
To guarantee returns on capital, the state government outlined a suite of Ease of Doing Business incentives, including waivers on tenement rates, fees, and state levies for up to five years for newly established enterprises.
Reassuring attendees on safety, Governor Oborevwori noted that strategic state security investments have significantly enhanced peace and stability across communities, reinforcing Delta’s position as a premier investment destination in the Niger Delta region.
