By Babajide Komolafe, Economy Editor & Egufe Yafugborhi, Ochuko Akuopha
Chairman of Heirs Holdings, Mr. Tony Elumelu, has endorsed Delta State as one of Nigeria’s emerging investment destinations, declaring that the state is ready for profitable investments while calling for a partnership with the state government to unlock its huge power potential.
Speaking at the Delta State Economic and Investment Summit, Elumelu said the visible transformation taking place under the current administration had strengthened investor confidence in the state.
“I want to congratulate our Governor for his visionary leadership and for what he is doing for the people of Delta State,” he said.
The billionaire investor noted that as an indigene of the state, he has closely monitored its development and is encouraged by the growing pace of private sector investments.
“Through television, social media and other platforms, I have seen the remarkable progress being made. I see people investing and building estates in Delta State, and that is encouraging. Delta State is changing, and we are proud of what is happening,” he said.
Describing the state as an attractive destination for both local and foreign investors, Elumelu said: “Delta State is ready for investment. It is profitable, investor-friendly and very receptive to businesses.”
He, however, stressed that sustainable industrialisation would depend largely on reliable electricity supply, describing power as the foundation of economic growth.
“At Heirs Holdings and Transcorp Group, we are committed to supporting the economic transformation of our country. Everything we have discussed here ultimately comes down to one critical factor—electricity,” he stated.
Elumelu disclosed that Delta State has about 1,000 megawatts of installed electricity generation capacity, but lamented that much of the capacity remains underutilised because of gas supply constraints.
“In Delta State, we have about 1,000 megawatts of installed electricity generation capacity, enough to make a significant difference in driving industrialisation and economic growth. Unfortunately, we are unable to fully utilise this capacity because of certain constraints, particularly gas supply challenges,” he said.
He called on Governor Sheriff Oborevwori to work with the private sector to remove the bottlenecks, saying collaboration would enable the state to emerge as a leader in electricity generation and distribution.
“Your Excellency, Governor, we would like to engage further with you on how we can address these issues. Working together, we believe Delta State can become a leader in electricity generation and distribution, making power more available, more reliable and more affordable for businesses and residents alike,” Elumelu said.
He added: “That will be our contribution to the economic development of Delta State.”
The post Elumelu backs Delta as investment destination, seeks power sector partnership appeared first on Vanguard News.