By Foster Akpore | Asaba | February 28, 2025
Chairman of the Delta State Investments Development Agency (DIDA), Olorogun Lucky Oghene-Omoru JP, has called for deeper collaboration between the public and private sectors as a means of unlocking Delta State’s vast investment potential for rapid economic growth and sustainable development.
The Orogun-born Oghene-Omoru made this call while delivering a keynote address titled “Collaboration Through Public Private Partnership (PPP) to Harness the Investment Potentials of Delta State for Accelerated Growth and Development” at the 12th Annual General Meeting and Investiture Ceremony of the Delta State Chamber of Commerce, Industry, Mines and Agriculture (DACCIMA) held in Asaba on Thursday.
According to him, Delta State remains one of Nigeria’s most economically endowed states, with abundant oil, gas, and agricultural resources, but requires strong partnerships to translate its natural wealth into broad-based prosperity. He noted that Delta accounts for about 40 percent of Nigeria’s natural gas reserves and 30 percent of crude oil output, while the non-oil sector now contributes more than half of the state’s GDP, a result of steady diversification efforts.
Citing data from the Oxford Business Group’s 2024 report, Oghene-Omoru observed that Delta State has the third-largest economy in Nigeria, contributing over 21 percent of national oil production as of March 2023. However, he emphasized that with limited public resources and competing social needs, strategic private sector collaboration through PPPs has become vital for achieving sustained growth.
“The state government alone cannot fund the wide range of developmental projects required to meet the expectations of our people,” he said. “By leveraging private sector capital and expertise, we can accelerate infrastructure delivery, promote industrialization, and generate employment across critical sectors.”
He explained that public-private partnerships could take several forms, including Build-Operate-Transfer (BOT), Build-Own-Operate (BOO), and Concession arrangements, each offering unique models for financing, managing, and transferring ownership of public assets.
The DIDA Chairman highlighted several advantages of PPPs, such as access to specialized skills, improved efficiency, enhanced product availability and affordability, and shared risks between the government and private investors.
Speaking on Delta’s institutional framework for investment promotion, Oghene-Omoru said DIDA was established by law in 2016 to coordinate, develop, and regulate all investments and concessions in the state. Since commencing operations in 2017, he said, the agency has worked to attract private capital, diversify the economy away from oil dependence, and create employment in alignment with Governor Sheriff Oborevwori’s MORE Agenda—Meaningful Development, Opportunities for All, Realistic Reforms, and Enhanced Peace and Security.
He further outlined various policy measures designed to enhance the state’s investment climate, including the establishment of a One-Stop-Shop for investors, automation of tax systems, faster land registration processes, agricultural value chain development, entrepreneurship training, and improved access to credit for small and medium enterprises.
Oghene-Omoru also listed recent institutional reforms and laws promoting ease of doing business, such as the Delta State Electricity Power Law 2024, the Delta State Public and Private Property Protection Law 2018, and the establishment of Small Claims Courts for commercial dispute resolution.
He praised Governor Oborevwori’s administration for its bold infrastructure drive and commitment to providing a secure and enabling environment for businesses through initiatives like the Delta State Security Trust Fund and Operation Delta Sweep.
Concluding his address, Oghene-Omoru expressed confidence that the full implementation of the MORE Agenda would consolidate Delta’s position as a leading investment destination. “By fostering meaningful collaboration between the public and private sectors,” he said, “we can ensure inclusive growth, create wealth, and deliver a sustainable future for all Deltans.”
Oghene-Omoru, a development economist and investment banker, previously served as Commissioner for Commerce, Industry, Cooperatives and Tourism, and later as Commissioner for Finance and Economic Planning in the defunct Bendel State. He is also a Life Member of the Nigerian Economic Society and currently chairs DIDA, the state’s principal investment agency.