….Says $2.5 billion Can Be Raised In 6 Years Through It
Lucky Obukohwo, Reporting
The Edo State Investment Promotion Office (ESIPO) has pledged to support the Rivers State Investment Promotion Agency when it is eventually established by the State Government.
The Managing Director of ESIPO, Mr Kelvin Uwaibi, made this known to journalists on the sidelines of the MAN Rivers and Bayelsa branch Annual General Meeting in Port Harcourt on Monday, October 31.
Speaking with reporters, Uwaibi welcomed the decision by the state government to establish the agency while encouraging other states in the south-south region who are yet to establish an Investment Promotion Agency (IPA) to do so quickly.
“From what we heard today, the Rivers State Government is taking the commendable step to establish its IPA. This is a welcome change as it will help the state properly manage and support investments that will greatly contribute to job creation and economic growth.
“ESIPO will support the government to establish the IPA should it be required. As you know, ESIPO has been instrumental in providing the handshake between the Edo State Government and private investors, aiding their entry into the state and providing them with support and aftercare services.
“Such services cannot be overestimated as we all grapple with the economic realities of today.” Uwaibi said.
Uwabi was the keynote speaker at the 39th MAN AGM, where he stressed the need for regional collaboration to exploit areas of competitive advantage within the region.
He stressed the need for regional infrastructural development to boost economic activities that will benefit residents in the region.
“As Rivers State prepares to join the list of the states with functioning IPAs, I want to use this opportunity to encourage other states who are yet to establish their IPAs to do so speedily.
“You can not lose with an IPA, in fact, any effort you make to attract investors to sub-nationals requires the services of an IPA to ensure smooth operations. The states need this and from what we know, so do the investors.” He concluded.
ESIPO is among the leading IPAs in Nigeria, and boasts of attracting over $2.5 billion from the private sector over the past six years.
The MD said the achievement was as a result of seamless collaboration across all relevant government agencies.
He said Rivers will definitely benefit from having a similar experience amidst dwindling revenues from the Federal Government.