Delta Economic Investment Summit: Have Capacity to Turn Our State From Potential to Prosperity
——– Hon Dr MichaelTidi
***Urges Governor Oborevwori to use $100m VGF to turn investment pledges into functional industries
By Wilson Macaulay
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WARRI — Former Chairman of Warri South Local Government Area, Hon. Dr. Michael Tidi, has said Delta State has the resources, human capital and entrepreneurial capacity to transform itself from a state of enormous economic potential into a prosperous and productive economy.
Tidi, who spoke against the backdrop of the recently concluded Delta State Economic and Investment Summit, however, advised Governor Sheriff Oborevwori to ensure that the investment pledges and commitments generated at the summit do not remain on paper but are translated into functional industries, businesses, infrastructure, jobs and improved livelihoods for Deltans.
He specifically urged the governor to strategically deploy the $100 million Viability Gap Funding (VGF) announced at the summit to de-risk viable private-sector investments and attract substantially larger volumes of private capital into the state.
According to Tidi, the VGF initiative could become one of the most significant economic interventions arising from the summit if properly structured, transparently administered and directed towards projects capable of generating sustainable economic value.
He said the investment summit should be viewed as more than a gathering of government officials, businessmen and prospective investors, stressing that its real significance lies in whether it provides the foundation for Delta to move from discussing its potential to actually putting that potential to work.
“The just concluded Delta State Investment Summit was, in my view, more than another gathering of government officials, businessmen and prospective investors.
“It was an attempt to confront a fundamental question: how does Delta move from being a state of enormous potential to one that actually converts that potential into wealth, jobs and broad-based development?” he said.
$100m VGF can unlock bigger private capital
Tidi described Governor Oborevwori’s commitment of $100 million as Viability Gap Funding to de-risk strategic private-sector investments as one of the most consequential announcements at the summit.
He explained that the availability of investment opportunities alone does not necessarily guarantee the inflow of capital, noting that investors are sometimes discouraged by the risks associated with otherwise viable projects.
“For me, one of the most consequential announcements at the summit was Governor Sheriff Oborevwori’s commitment of US$100 million as Viability Gap Funding to de-risk strategic private-sector investments.
“That is important because capital is not always scared away by the absence of opportunities; sometimes, it is the risk surrounding those opportunities that keeps investors away.
“By taking on part of that risk, government can potentially unlock several multiples of private capital,” Tidi stated.
He therefore urged the state government to regard the VGF as a strategic economic instrument capable of leveraging public funds to mobilise much larger private investments.
He said projects supported under the scheme should be carefully selected based on their viability, capacity to attract additional investment, employment potential and ability to contribute meaningfully to the state’s economic diversification.
Don’t allow VGF to become another government figure
The former council chairman warned against allowing the $100 million commitment to become another impressive figure in government records without corresponding economic outcomes.
He stressed that the real work would begin after the summit, urging the government to put in place a transparent framework for the deployment and monitoring of the fund.
“But the real work begins after the summit. The US$100 million cannot become another impressive figure in the archives of government announcements,” he warned.
“It must be deployed transparently and strategically to make viable projects bankable, attract substantially larger private investments, create jobs and strengthen indigenous enterprises.”
Tidi said transparency would be critical in determining the credibility of the initiative, stressing that potential investors and Deltans should be able to understand how projects are selected, what government support entails and what measurable outcomes are expected.
He also called for strong monitoring mechanisms to ensure that projects benefiting from the VGF are implemented according to agreed timelines and deliver the expected economic benefits.
Investment pledges must become functional industries
Tidi said the ultimate objective of the summit should be to convert expressions of interest and investment pledges into tangible economic assets.
He urged the state government to pursue investors beyond the summit and provide the necessary institutional support, infrastructure, policy stability and investment facilitation required to move projects from proposals to implementation.
According to him, the emergence of functional industries would have a multiplier effect on the Delta economy by creating direct and indirect employment, stimulating local supply chains, expanding the tax base and strengthening indigenous businesses.
He particularly advocated deliberate efforts to ensure that local entrepreneurs and businesses are integrated into the investment ecosystem.
Tidi maintained that Delta’s development should not be measured solely by the number of multinational companies attracted to the state, but also by the capacity of the investment strategy to expand indigenous enterprises and create opportunities for local businesses to participate in emerging value chains.
Delta has resources, talent and entrepreneurial capacity
The former Warri South LGA chairman said Delta does not lack the basic ingredients required for economic transformation.
“Delta has no shortage of resources, talent or entrepreneurial capacity,” he said.
“What has often been missing is the environment and the institutional confidence to convert these assets into sustainable economic value.”
He said the state’s oil and gas resources, agricultural potential, strategic location, human capital and entrepreneurial population provide a strong foundation for economic diversification.
However, he stressed that resources alone cannot guarantee prosperity without the right policies, infrastructure, investment incentives and institutional mechanisms to convert them into productive economic assets.
Summit is a beginning, not the destination
Tidi described the investment summit as “a promising beginning rather than an achievement in itself,” insisting that the real scorecard must be based on implementation.
He said the state must resist the temptation of declaring victory simply because investors attended the summit or because investment pledges were announced.
“So, I would describe the summit as a promising beginning rather than an achievement in itself,” he said.
“Its ultimate success will be measured not by the quality of the speeches or the volume of investment pledges, but by how many of those pledges become factories, businesses, infrastructure, jobs and improved livelihoods for Deltans.”
He urged the Oborevwori administration to develop a post-summit implementation roadmap with clear targets and timelines for following up investment commitments.
He said stakeholders should be able to track the progress of major projects and determine the extent to which the summit’s objectives are being achieved.
According to him, such an approach would also boost investor confidence and demonstrate that Delta State is serious about creating a predictable environment for private capital.
From potential to prosperity
Tidi said the ultimate objective should be to create an economy in which Delta’s abundant resources are transformed into opportunities for citizens across the state.
He argued that the success of the investment drive should eventually be reflected in new factories, expanded businesses, improved infrastructure, increased employment, stronger indigenous enterprises and better living standards.
He therefore urged all stakeholders to move beyond post-summit celebrations and focus on the difficult but necessary task of implementation.
“That is when we can truly say that Delta has moved from talking about its potential to putting that potential to work,” Tidi said.
(DEMOCRACY NEWSLINE NEWSPAPER 12TH AUGUST, 2026)
