RSIPA urges BRACED Commission to renew economic integration

RIVERS State Investment Promotion Agency (RSIPA) has urged the BRACED Commission to renew commitment to economic integration taking advantage of renewed cohesion among member states now governed under same political platform, the All Progressives Congress (APC).

The Commission established to enhance coperation for regional integration for collective growth among the South South states of Bayelsa, Rivers, Akwa Ibom, Cross River, Edo, and Delta has failed to achieve set objectives due to divisive partisan differences.

At a two day Roundtable convened by the BRACED Commission in Port Harcourt, Dr Chamberlain Peterside, Director General, RSIPA, told the cooperating states to embrace trans regional projects in rail lines, power, blue economy among others with call for a regional investment platform to manage such joint projects.

He reasoned that, “Governors in the region were one and united for one cause. The agenda is simple, to integrate the economy of the region into one strong bloc. Then, politics came and everything scattered.

“The best time to synergise is now because all the BRACED governors are now in one political party. The carpet is shifting under our feet. The IOCs (international oil corporations) have moved offshore.

“The issue before us now is how should the region act now. We should target big ticket investment proposals, because some will involve other states. There is thus need to collaborate.

“Railway system is not for one state. At the moment, there is no railway line that links Benin to Port Harcourt to Calabar. BRACED can push this agenda.

“There is an oil route from Opobo to Akwa Ibom where Sterling Oil is operating. It’s a route of interest. Governor Siminalay Fubara wants Rivers to synergise with other states economically.

“Let the governors know BRACED task is not competition, but a collaboration. We’ve the Niger Delta Development Commission, South-South Chambers of Commerce, Industry, Mines and Agriculture, the Niger Delta Chambers of Commerce, Industry, Trade, Mines, and Agriculture (NDCCITMA), etc. This is the ripest time to strike the iron.”

The gathering, prelude to an economic summit in the near future, featured the investment promotion agencies of the cooperating states with each showcasing the journey so far in promoting investment drive and ease of doing business in their respective state.

Speaking on the inroads made in his state, Peterside said some prospects were already flowing into Rivers state after disruptions caused by State of Emergency and that the young
RSIPA has received numerous investment proposals.

“We’ve engaged actively with the private sector, both those currently operating in the state and those intending to invest. We realize investment begins from domestic investors and you have to guide them.

“Through outreach programmes and our One-Stop-Center (OSC), we have streamlined a system for addressing investor needs, supporting their business operations.

“For the first time in Rivers, prospective investors and small and medium enterprises now have a centralized hub that can address their challenges and find solutions that enable them to thrive, enhancing the operating climate and ease of doing business.

“Working closely with other ministries, departments, and agencies to harmonize our activities, collaboration for us is key. We see Rivers as a single ecosystem where all stakeholders work together to support investment inflow and build favourable environment for businesses to flourish.”

Mrs Patience Ranami Abah, Director General, Bayelsa Investment Promotion Agency (BIPA), shook the gathering with presentation on “Closing the Value Capture Gap”, amplifying how states will win bigger playing together to drive an economic front.

Amb Joe Keshi, Director General, BRACED Commission, AQsaid the roundtable was themed around synchrosnising investment frontiers in a strategic framework for South-South economic integration.

The roundtable outcomes encoded in a communique recommended setting up a monitoring committee and other organs to drive integration and investment.

A private sector-driven rail system connecting the region was also at the core of the roundtable outcomes with the proposition said to be at feasibility study already.

Mr Kalada Apiafi, who presented the outline of the project, said interests were high and hopes were also high that the rail project from Benin to Calabar would be a reality.

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