By Rukevwe Odeh

Delta State Governor, Sheriff Oborevwori, has reiterated the need for the state to diversify its economy, stressing that relying heavily on crude oil revenue is no longer sustainable. He urged both local and international investors to explore the numerous business opportunities available across key sectors of the state’s economy.

Speaking at the conclusion of the second day of the Delta State Economic and Investment Summit 2026 in Asaba, the governor said discussions at the event highlighted the importance of expanding investment beyond the oil and gas industry to achieve sustainable development, create jobs and improve the standard of living for residents.

Oborevwori identified agriculture, livestock production, energy, the blue economy, transport infrastructure, solid minerals, digital technology and innovation as strategic sectors capable of driving the state’s economic transformation. According to him, Delta possesses significant untapped resources that can attract investors and boost industrial growth.

The governor explained that the investment summit was designed to be private sector-driven, providing a platform for investors to connect with viable business opportunities rather than serving as a routine government event. He added that his administration remains committed to creating a favourable investment climate through supportive policies, improved infrastructure, enhanced security and strong collaboration with the private sector.

He disclosed that the state government has already secured land and taken additional steps to encourage investment in priority sectors, noting that investment promotion campaigns have also been carried out in countries such as China and Brazil to showcase Delta’s economic potential.

During panel sessions at the summit, industry stakeholders also highlighted agriculture, mining, livestock, the blue economy and legal reforms as major areas capable of attracting long-term investments.

A Brazilian agribusiness investor, Roberto Fonseca, expressed interest in partnering with the Delta State Government to establish a modern cattle and beef value chain covering breeding, ranching, processing, cold storage and distribution. He said the state’s environmental conditions make it suitable for developing a thriving livestock industry that could supply both local and regional markets.

Other experts also pointed to the state’s coal deposits, fisheries and digital economy as sectors with enormous potential to support diversification, industrialisation and employment generation, provided the right policies and investments are sustained.

By Derick Peretengboro

BUA Group has announced plans to invest about $85 million in expanding its Port Harcourt port terminal as part of efforts to strengthen its logistics network and support the rapid growth of its food production business.

The company’s Chairman, Abdul Samad Rabiu, disclosed the development during a visit to the Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, in Lagos.

Rabiu said the visit was aimed at appreciating the authority for its continued support and updating its leadership on the progress of the Port Harcourt terminal project, which he described as a key component of BUA’s expansion strategy.

According to him, the upgraded facility will enable the company to import more than two million tonnes of raw materials annually once its ongoing food processing expansion is completed next year. He explained that the increased import volume makes the development of a larger and more modern terminal necessary.

The project will provide approximately 600 metres of quay frontage, significantly improving cargo-handling capacity and supporting the operations of BUA’s businesses in food processing, cement, mining and infrastructure.

Rabiu also stressed the importance of stronger port infrastructure to Nigeria’s economic development, noting that the country’s maritime facilities require further improvement despite its status as Africa’s largest economy. He commended the current NPA management for supporting private-sector investment and recalled that the Port Harcourt terminal project had previously faced setbacks before receiving renewed backing.

Responding, Dantsoho described the investment as a major boost for Nigeria’s maritime sector, saying it would increase cargo traffic, improve activities at eastern ports and generate more revenue for the country. He reaffirmed the NPA’s commitment to working closely with private investors to enhance port efficiency and strengthen Nigeria’s position as a regional maritime hub.

The NPA chief projected that the expansion could drive cargo throughput growth of between 13 and 14 per cent, adding that the collaboration between government agencies and private investors is essential for sustaining improvements across the nation’s ports.

By Derick Peretengboro

The Osun State Police Command has released the Secretary to the State Government (SSG), Teslim Igbalaye, following his detention over allegations linked to suspected electoral offences and other criminal activities. Authorities, however, said investigations into the matter are still ongoing.

The SSG regained his freedom on Thursday after he and five others were arrested during a police operation at his residence in Osogbo. Police said the operation was based on intelligence reports that led officers to the location.

Confirming the development, the spokesperson for the Osun State Police Command, Abiodun Ojelabi, stated that Igbalaye had been released while the command continues its investigation into the case.

The announcement was welcomed by the Imole Campaign Council, which coordinates Governor Ademola Adeleke’s re-election campaign. Its spokesperson, Pelumi Olajengbesi, expressed appreciation to the Inspector-General of Police and the Osun State Commissioner of Police, saying the decision reflected respect for justice and the rule of law.

During the raid, police reported recovering ₦4.81 million in cash, two Permanent Voter Cards (PVCs), a voter register, a laptop, a photocopy machine and a printer. Investigators said the recovered items are being examined as part of efforts to determine whether any electoral or other criminal laws were violated.

The police also disclosed that one of the individuals arrested at the residence was on its watchlist, while the remaining suspects are being investigated for their possible roles in the case.

The arrest had generated political controversy in the state. The Speaker of the Osun State House of Assembly, Adewale Egbedun, alleged that the SSG’s detention was politically motivated, claiming it followed an incident at an Independent National Electoral Commission (INEC) stakeholders’ meeting. The police have rejected the allegation, insisting that the operation was intelligence-driven and carried out in line with the law.

Despite the SSG’s release, the Osun State Police Command maintained that its investigation remains active and that anyone found culpable will be dealt with in accordance with the law.