On August 5, 2024, Rivers State Governor Siminalayi Fubara signed a significant document known as Executive Order Number 2, 2024. This order establishes a new body called the Rivers State Investment Promotion Council.
The State Attorney General and Commissioner for Justice, Dagogi Iboroma, introduced the draft of this executive order to Governor Fubara in the executive council chamber at Government House in Port Harcourt.
During his announcement, Governor Fubara explained that this step follows the advice of a committee that had organized the State Economic and Investment Summit in May. He highlighted the necessity of creating a central place where potential investors can ask questions and get guidance about investments.
Governor Fubara pointed out that this new agency reflects his administration’s dedication to improving the state’s economic environment. He mentioned that the agency’s board would soon be set up and expressed hope that it would attract strong investments, particularly in agriculture and healthcare.
He also noted that if the cost of living were significantly lowered, it could help reduce the current tension in the country by as much as 70%.
