At the opening ceremony of the two-day Rivers State Economic and Investment Summit (RSEIS), Engr. Adokiye Tombomieye, the former Executive Vice President (Upstream) of the Nigerian National Petroleum Company Limited (NNPCL), outlined a six-point strategy to harness the economic potential of Rivers State.
Tombomieye commended Governor Fubara for hosting the strategic summit, emphasizing the urgency of fostering economic resilience and paving the way for a self-sufficient Rivers State that benefits its people.
Drawing upon the state’s rich history of development plans, he stressed the importance of learning from the past while embracing innovation to propel the state towards prosperity.
Tombomieye highlighted challenges such as a youthful population favoring employment over entrepreneurship, the limited capacity to sustain heightened tax burdens, the stagnation of industrial zones due to the shift of International Oil Companies (IOCs), among others, as impeding economic diversification.
He also underscored the absence of a comprehensive, integrated development plan as a hindrance to coordinated growth strategies in the state.
To address these issues and unlock the state’s investment potential, Tombomieye proposed the following six strategies:
- Comprehensive Roadmap Development.
- Streamlining Land Ownership Processes.
- Infrastructure Enhancement and Trade Facilities.
- Agricultural Revitalization and Value Chain Optimization.
- Enhanced Security Measures.
- Environmental Audit and Conservation Partnership.
Emphasizing the importance of actionable strategies, Tombomieye quoted Benjamin Franklin: “If you fail to plan, you are planning to fail.”
He urged the state government to move beyond rhetoric and catalyze tangible progress through the proposed strategies by prioritising empowerment, business growth, and wealth creation for the people of Rivers State.
The two-day Rivers State Economic and Investment Summit brought together stakeholders, experts, and industry leaders to explore opportunities for economic diversification and foster a business-friendly environment in the state.