According to Ofehe, Governor Sheriff Oborevwori’s administration would mark its first year in office with a minimum of $1 billion international investment for 2024.
A Netherlands-based environmental rights activist and Executive Assistant on External Relations and Diaspora Affairs to the Delta State Governor, Sunny Ofehe, says the state has secured a $400 million investment for a modular oil and gas refinery with a daily production capacity of 20,000 barrels of crude oil.
According to Ofehe, Governor Sheriff Oborevwori’s administration would mark its first year in office with a minimum of $1 billion international investment for 2024.
He disclosed further that plans were also underway to assemble plants for agricultural equipment to boost mechanized farming in the state.
The National Bureau of Statistics (NBS) disclosed in its capital importation report for the third quarter (Q3) of 2023 that 27 states failed to attract foreign investment in the previous nine months and Delta State was among them.
But Ofehe noted that with what has been done so far since his appointment, Delta State shall be deleted from the states that failed to attract foreign investment as the state is set to witness a dramatic turnaround in attracting Foreign Direct Investment (FDI).
Speaking with journalists on Monday, shortly after a meeting with the Secretary to the State Government (SSG), Kingsley Emu in Asaba, the state capital, he disclosed that by April when Governor Oborevwori is celebrating one year in office, Delta will be ahead of many states in terms of FDI.
Ofehe said, "The opportunities we have in Delta are enormous so we can take advantage of his huge potential, sell this potential to the world, tap into the potential that our growing youths have and create an enabling environment for these investors.
"I want to ensure that we achieve this and the governor is open, wanting to let all of these come in to fulfil his 'MORE Agenda' political promises to Deltans. We have been able to attract investment in the area of a modular oil and gas refinery - 20,000 barrels of crude oil per day production. That has been secured for about $400 million.
“We also have housing shortages in the state and we want to de-urbanise the big cities so we have investors coming to build 2500 mega city. We also have German investors who want to set up assembling plants of their Agro-tractors’ equipment for farmers. This is to enhance mechanised farming that will increase agricultural output in the state.
"We also have investors in the area of renewable energy which includes solar power. We have two companies that want to come in to acquire land and generate energy through solar to either supply the national grid or sell to private homes and estates.”
"These projects are purely private sector driven with government coming in any form of equity with what they are bringing in as contribution, that will probably give them certain percentage stake in the business. So there is transparency because they are foreign companies, they have laid down standards to follow in terms of ethical standards.”
“A Memorandum of Understanding (MoU) will be entered into with the investing companies to allocate a minimum of 2 percent for the development of host communities as part of their corporate social responsibility. The state government's contribution may be in the form of land allocation and ensuring a conducive business environment,” Ofehe added.