By Esther Olaoluwa |
Delta State Governor, Sheriff Oborevwori, has launched a $100 million (about ₦133 billion) Viability Gap Fund to support strategic investments and attract more private capital into the state.
Oborevwori announced the fund at the Delta State Economic and Investment Summit 2026 in Asaba, where government officials, business leaders and development partners gathered to discuss opportunities for economic growth and investment in the state.
Fund to Support Strategic Investments
The governor said the fund was designed to reduce investment risks and give investors greater confidence to commit capital to projects in Delta State.
According to him, the initiative will support projects capable of driving economic growth, creating jobs and improving shared prosperity across the state.
He said the summit was also aimed at connecting ideas with capital while taking advantage of Delta State’s economic and natural resources.
The governor’s announcement comes as states across Nigeria seek to attract private investment and diversify their economies amid efforts to reduce dependence on oil revenues.
Shettima Urges States to Look Beyond Oil
Vice President Kashim Shettima, who was the Special Guest of Honour at the summit, said Nigeria was making progress on its economic development path, citing favourable assessments from international ratings agencies, including Fitch, S&P and Moody’s.
Shettima, however, stressed the need for states to diversify their economies and build systems capable of sustaining growth beyond oil.
“Resources may finance progress, but only ideas, institutions, and enterprises can sustain it,” he said.
The Vice President urged state governments to move beyond documenting economic assets and focus on turning available opportunities into investments, businesses and jobs.
Okonjo-Iweala Calls for Better Execution
Director-General of the World Trade Organisation, Ngozi Okonjo-Iweala, said Delta State and Nigeria still had significant opportunities to attract investment despite ongoing disruptions in the global economy.
She called for fiscal prudence, lower trade costs, improved execution of projects and a stronger culture of maintaining public infrastructure.
Okonjo-Iweala also encouraged Delta State to learn from developments such as the Lekki Deep Sea Port in Lagos, which she said had created employment opportunities, with about 5,000 people employed.
She described the port as an example of how effective infrastructure development could support economic activity and job creation.
FG Highlights Increased Revenue
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said states and local governments were receiving increased revenues as a result of the economic reforms of the President Bola Ahmed Tinubu administration.
Oyedele said the reforms under the Renewed Hope Agenda were helping to strengthen macroeconomic stability and urged states and entrepreneurs to play a greater role in driving economic growth.
The launch of the Delta State Viability Gap Fund comes against the backdrop of similar efforts by the Federal Government to reduce investment risks and improve access to financing for businesses.
In 2025, the Federal Government announced plans to establish a de-risking fund to improve access to affordable financing for micro, small and medium enterprises (MSMEs).
The initiative was intended to address high lending rates, which had continued to make it difficult for small businesses to access capital and expand their operations.
For Delta State, the new fund is expected to strengthen investor confidence, support strategic projects and create more opportunities for private-sector participation in the state’s economic development
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