Rivers State Reaffirms Status as Nigeria's Oil and Gas Capital
Governor Siminalayi Fubara has confidently declared Rivers State as a prime destination for oil and gas investments in Nigeria. The governor gave this assurance during the Nigeria and Entrepreneurship Summit and Honours Foundation Oil and Gas Roundtable held in Port Harcourt on Tuesday.
Represented by the Secretary to the State Government, Dr Benibo Anabraba, Governor Fubara emphasized the strategic importance of the oil and gas sector to both national and state economies. He revealed that the Nigerian oil and gas sector contributes over 90 per cent of the Federal Government's foreign exchange earnings, underscoring its vital role in the nation's economic stability.
Rivers State: Engine Room of Nigeria's Economy
Governor Fubara provided significant statistics highlighting Rivers State's dominant position in the country's hydrocarbon industry. Rivers State generates over 40 per cent of Nigeria's total revenue from its oil and gas resources, hosting numerous national and multinational energy companies.
The governor detailed his administration's collaborative efforts with the Federal Government, security agencies, and local communities to safeguard national oil and gas assets. "We have established and maintained a conducive, peaceful, and secure environment for companies to open and flourish in the state", Fubara stated, describing this as part of a strategic plan to stimulate economic growth, create jobs, and improve citizens' welfare.
Investment Security and Legislative Support
Fubara further committed to supporting indigenous companies through responsive governance. He assured that the state government would positively consider any administrative, policy, or legislative recommendations from local operators to facilitate their growth and development.
Mr Emeka Ugwu-Ozu, founder of the Nigeria and Entrepreneurship Summit and Honours Foundation, endorsed the governor's position, noting that the summit is exclusively held in oil-producing states to explore best practices for local operators. "From what I have seen so far, Rivers State is back, open, safe, and good for business. The oil and gas players should come and see what we have seen", Ugwu-Ozu declared.
The governor has consistently reassured investors about security in Rivers State following the lifting of emergency rule in September 2025. He maintained that incidents of insecurity have often been exaggerated, and the state remains secure for business operations.
Infrastructure Development and Governance Continuity
In a separate development, Governor Fubara inspected the ongoing reconstruction of the Rivers State House of Assembly Complex, expressing optimism about its completion by December 2025. The complex suffered damage during political unrest in October 2023.
The reconstruction project is managed by Monier Construction Company Limited, with certain aspects subcontracted to Julius Berger Nigeria Plc. Fubara expressed satisfaction with the progress and reaffirmed his commitment to completing the work on schedule.
The governor indicated that once completed, the 2026 Appropriation Bill would be presented to lawmakers in the newly refurbished chamber. "We have been working hard to ensure their permanent sitting chamber is put in place. By the grace of God, now that everything has been sorted out, it is our desire to ensure that the Assembly members return to their normal place of sitting", Fubara concluded.
