Understanding Rt Hon Sheriff Oborevwori (13): Inspiring Strategic And Sustainable Industrialization

While Sheriff is being applauded for his commitment and performance in the construction of inherited and newly initiated projects, especially roads, bridges, markets, health and educational facilities, to reconfigure the infrastructural landscape of Delta State, he is also taking deliberate, concerted and intensive but quiet actions towards re-engineering the industrial landscape of the state for sustainable economic growth.

Understanding that the informal productive sector accounts for the larger percentage of the GDP and to provide opportunities for all, in line with his MORE Agenda, his attention to re-developing Micro, Small and Medium Enterprises through various strategic financial, technical and institutional support has been excellent and already proving efficacious, but also for the ultimate game changer, he is focusing strongly on inspiring big businesses and big investments to spring up across the state.

He is doing so by establishing not just the most conducive environment, but also the most attractive incentives regime possible for businesses in the country.

This has been clearly articulated by the Delta Investment Development Agency (DIDA) in the assurance of government assistance for land acquisition, provision of security and safety measures, the building and maintenance of cordial relationships with host communities and the grant of tax waivers to serious businesses across sectors, be they in agriculture, oil and gas, power generation, manufacturing etc.

Even more inspiring is that the government is prepared to take equity or direct participation in the businesses, according to their feasibility and viability.

Accordingly, both local and international investors are already looking in and exploring business and investment opportunities in the state.

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One of them is UTM Offshore Limited which is setting up to establish a Floating Liquefied Natural Gas company in the state, the first in Nigeria and biggest in Africa.

With the installation of the facility scheduled to be completed in the 4th Quarter of 2028, the investment estimated at $2.1 billion is projected to deliver 2.8 million metric tonnes of natural gas, 450 metric tonnes of LPG and other liquids per annum for export and domestic consumption.

The CEO of the company, Julius Rone, is excited that the project will leapfrog the economy by ensuring the availability of gas at a lower cost for household, automobile and industrial uses, and will also generate massive employment and multi-million Naira business opportunities for Nigerians.

The interesting thing is that Sheriff is not only providing governmental and institutional support for the investment but has led Delta State to buy eight percent equity in it, not only as a sign of commitment but strategically also for the state to derive revenue from the business.

The Shareholders Agreement between UTM, NNPCL and the Delta State Government was signed on December 18, 2023 and, in this July, the Board of Directors in their meeting evaluated and approved the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) phase plans of the project.

The implication is that Sheriff is not only looking at deepening the economic streams but also planting for the sustainable future growth of Delta State, all in the overall interest of generating increased economic productivity, creating massive employment and boosting the economy of the state to raise the standard of living and well being of the people, for now and for the future.