invest in rivers state
DESCRIPTION
Rivers State, with Port Harcourt as capital, is the economic hub of the well known Niger Delta region of Nigeria.TRANSCRIPT
INVEST IN RIVERS STATE
Government of RIVERS STATE 2010Published by Henley Media Group Ltd in association with the Commonwealth Secretariat
GOVERNMENT OF RIVERS STATE
Rivers State, with Port Harcourt as capital,
is the economic hub of the well known
Niger Delta region of Nigeria. Better known as
Nigeria's oil and gas centre, Rivers State is a place of great
diversity. It is home to a multiplicity of languages, cultures and
various economic activities and markets.
The local environment is no less colourful with its endless creeks,
rivers, lagoons, marshes, swathes of rain and mangrove forests
and ocean fronts. In the on-going harmonisation of these various
elements, Rivers State is birthing forth one of Africa's greatest
economic promises ever.
RIVERS STATE
T r e a s u r e B a s e O f T h e N a t i o n
N i g e r i a
GOVERNMENT OF RIVERS STATE
Rivers State with capital in Port Harcourt is a globally
recognised socio-economic centre and one of the states in
Nigeria. Rivers State is Nigeria's oil and gas centre. It is also the
threatened but colourful eco-tourists' paradise with its over
3000 creeks, endless marshes, lagoons, mangrove and rain
forests teeming with a multitude of the various faces of
nature's fauna and flora striving for life beside the polluting
presence of oil exploration activities: the enigmatic birthplace of
globally acclaimed civil environmental rights activists co-existing with hot-headed
militants.
Indeed today, Rivers State is on course to fulfilling its promises of becoming Africa's
greatest economic success. It has one of the richest oil and gas resource profile in
Africa, a beautiful natural environment, and the appropriate regulatory framework
to enable businesses thrive. Most importantly, it possesses a hospitable but very
aware local population demonstrably committed to doing business with genuine
investors.
The opportunity represented by the state is magnified by the fact that it is
governed, today, by a team committed to delivering all the basic infrastructural and
policy support necessary for harnessing the dream that the state represents. Our
global standing arising from the judgement of such international agencies like
Standard and Poor as well as Fitch bear eloquent testimony to this: Rivers State is
your destination of first choice for an investment bouquet that would keep your
mind at rest.
I invite you to visit Rivers State.
Rt. Hon. Chibuike Rotimi Amaechi.
Governor, Rivers state
W E L C O M E T O
NIGERIA'S TREASURE BASE
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Rivers State was created on the 27 of May, 1967 with capital at Port Harcourt. In 1996, today's Bayelsa State, was carved out of it
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leaving behind a geographical space of 11,077km encompassing large swathes of tropical rain and mangrove forest as well as
splendid arable land with interesting investing opportunities in crop and fish farming.
th
Rivers State was created on the 27 of May, 1967 with capital at Port Harcourt. In 1996, today's Bayelsa State, was carved out of it
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leaving behind a geographical space of 11,077km encompassing large swathes of tropical rain and mangrove forest as well as
splendid arable land with interesting investing opportunities in crop and fish farming.
Rivers State with a total GDP of US$21,073,410,422 (GDP per capita of $3,965) and a population of some 5.6 million people, is
the second largest economy in Nigeria as well as one of the fastest growing metropolitan cities in Africa;
Strategic economic hub of the
Niger Delta region
Borders the Atlantic Ocean to the south, the two major commercial centers,
Aba and Onitsha in the south-eastern states of Abia and Anambra respectively
to the North and other Niger Delta states;
Has three major but strategic universities (University of Port Harcourt,
University of Science and Technology, Port Harcourt and University of
Education) and other institutions of higher learning;
Possesses two major refineries, two major seaports including an international
one, and is easily accessible by road, rail, sea and air;
Has direct access to the Atlantic Ocean which links it to other continents of the
world providing immense opportunities in marine and maritime
transportation/related sectors;
Is home to multinational Oil and gas companies like Bonny NLNG, Shell
Petroleum Development Company (SPDC), MOBIL, AGIP, and Chevron. It also
has established a free trade zone (the Oil and gas Free Trade Zone);
Is the regional headquarters of several Nigerian banks;
credited with a long term foreign and local currency
ratings of 'B+” and a national long term rating of 'AA-' by
Fitch: a rating higher than even the rating of the
sovereign, Nigeria;
is the first state in Nigeria to receive a Standard and Poor
rating: a 'B' long term credit indicating a 'stable outlook
based on improved transparency';
does not have any debt portfolio with any local or
international bank. The State is not in any way indebted
and has full capacity to source for funds and finance
projects;
has passed a compendium of investor friendly legal
framework including a Procurement Law outlining the
framework for public procurement of goods, works and
services;
Global economic standing
GOVERNMENT OF RIVERS STATE
INVESTMENT PROFILE OF RIVERS STATE
Developmental Governance
INVESTMENT BY THE STATE GOVERNMENT FOR STRENGTHENING LOCAL ECONOMY (VERIFIABLE)
INFRASTRUCTURE
EDUCATION
POWER
HEALTH
o From 2008-2010, a minimum of One Hundred Billion Naira per year invested in the
provision of roads, bridges, and other social amenities;
o Currently, about 800km o roads are under construction (with 250 already completed);
o 10 major bridges under construction (with 3 already completed);
o 20 minor bridges under construction (4 completed), 2 flyover/interchange under
construction (2 already completed);
o 6 land reclamation/shore protection projects (Andoni, Opobo, Buguma, Abalama,
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Olombie/Owukiri Island, Obama-Okirikawith 1,140,000 Km completed);
o 2 major markets and a shopping mall under construction (phase 1 of mile 1 market
housing 960 shops and two banking halls completed);
o 350 model primary schools at various stages of completion;
o 24 model secondary schools across the State at various stages of completion;
o Provision of ICT in schools and fully equipping the schools;
o Comprehensive training programmes for teachers at the primary and post-primary
levels;
o Three power stations built and functional at Omoku (150 Mega Watts), Trans-Amadi
(130 Mega Watts), and Eleme (75 Mega Watts). By June 2011, capacity will be increased
to 500 Mega Watts under the $195 million dollars 180MW gas turbine awarded to
Saipem;
o Seven Transmission stations (132/33 Kilo Volts) and 7 Distribution injection sub-stations
33/11 KV built;
o Construction of 160 Health centers in all the 23 Local Government Areas to engage
primary health care in the state;
o Construction of a 1000 bed specialist hospital, the new Rivers State Modern dental and
maxillofacial Hospital and the Kelsey Harrison (Niger) Hospital;
o Syringe factory;
o Construction of biolarvicide manufacturing company;
Completing these projects and the
provision of the necessary expertise needed to
sustain them are areas where the state would
appreciate investors to come in.
Is one of the states in Nigeria that is fully committed to fiscal federalism among the Federal, state and local government
levels of governance;
Has been recognized at various levels for its practice of transparent and accountable governance spread across vibrant
executive, legislative and judicial arms of governance;
Currently implements a policy thrust built on well articulated mission pledges viz:
to serve Rivers State's stakeholders by rendering transparent and accountable stewardship anchored on
integrity and good governance;
to improve the quality of life of the people through rapid infrastructural development;
to empower Rivers State's people and stakeholders economically in a peaceful, just and harmonious society
under God;
GOVERNMENT OF RIVERS STATE
TRANSPORTATION
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ENVIRONMENTAL SUSTAINABILITY
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Rivers State is committed to the provision of mass
transportation to cater to its daily swelling population as well
as the expected influx of persons into the state.
To that end, the state is embarking on the following;
N60 billion Mono rail project (N11 billion already paid);
Establishment of buses, land and water taxis;
Construction of three bus terminals.
The maintenance of the environment on a sustainable basis
has become a very key component of the State's socio-
economic policy direction. Rivers State government is
currently involved in various sustainable environment
maintenance schemes including:
Waste-to-wealth
Scrap-to-wealth; and
Other mass systems of refuse disposal compatible with
international best practices.
GOVERNMENT OF RIVERS STATE
Our efforts and other key areas
of interest to investors
THE GREATER PORT HARCOURT
PROJECT
The Rivers State capital, Port Harcourt popularly
known as the 'Garden City” has over the years
seen an upsurge in population growth which has
resulted in the overstretching of its infrastructural
base.
To reverse the development and restore the city to its
founding visions, the State Government has embarked on a
state-wide programme of urban renewal and development of
infrastructure chief of which is the development of Greater
Port Harcourt City project.
GREATER PORT HARCOURT:
OPPORTUNITIES
Greater Port Harcourt as conceived is to encompass an area
of approximately 1,900 square kilometers of land absorbing
some two (2) million persons. Its key anchors are the old Port
Harcourt city, Port Harcourt International Airport and the
Onne Harbour.
The new City is planned to be a modern fully serviced area of
2500 hectares of land with residential accommodation for
30,000 housing units, commencing with 3000 housing units in
Phase 1A.
GREATER PORT HARCOURT CITY
Urban renewal
SPECIFIC AREAS OF INVESTMENT IN
GREATER PORT HARCOURT'S NEW CITY
Crime prevention and integrated security system
24 Hours Electricity supply
Network of reticulated water supply
Public transportation system
Storm water management and disposal system
Residential neighbourhood
Commercial zone and structures
Industrial areas, parks and gardens
OTHER INVESTMENT OPPORTUNITIES
PROJECT
PARTICULARS
Monte @Rivers
Justice Adolphus
Karibi-White
Hospital
IP @Rivers
New University
of Science & Technology
10,000 hectares Oil
palm Estate
USD 150m provision
for equity and debt
financing
USD 150m
N28bn
N60bn
N7bn
USD 100m
USD 120m
N28bn
N60bn
N7bn
TOTAL COST FUNDING
REQUIREMENTS
Invest Tour Live. .
in Nigeria’s Garden City...invest
PORT HARCOURTRIVERS STATE, NIGERIA
www.riversstate.gov.ng
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CREDITS
The Invest in Rivers State digital book was compiled and edited by Sylvia Powell for Henley Media Group Ltd.