Director General of the Rivers State Investment Promotion Agency (RSIPA), Dr Chamberlain Peterside has warned the BRACED States against repeating the mistake of allowing the oil economy shift below their feet again.
The six States, which make up the South-South geopolitical region of Nigeria; Bayelsa, Rivers, Akwa Ibom, Cross River, Edo and Delta States, formed the BRACED Commission.
Dr Peterside issued this warning on Wednesday, April 1, 2026 during a Roundtable organized by RSIPA with participation from investment promotion agencies of BRACED.
He regretted that the oil region allowed itself to lose grip of the oil economy, but must not allow a repeat of such especially with the ingress of the blue economy era.
The RSIPA DG, who made presentations for Rivers State economic landscape, utilized the Roundtable, which served as a platform for the regrouping of the BRACED Commission, to outline plans to fast-track the investment wheels of the State that has witnessed frequent crisis for over a decade.
He hailed the rebound of the BRACED Commission, which he said did well at the onset, stressing that “the governors of the region were one and united for one cause. Then, politics came and everything scattered.”
Admitting that Rivers State’s investment promotion agency is very young, plus six months in the limbo of state of emergency, Dr Peterside stated that “this thus is a very unique opportunity to get resurgent momentum,” adding that “the agenda is simple, to integrate the economy of the region into one strong bloc.”
He listed the achievements of RSIPA in the short period since its establishment, saying they have 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 do realize the fact that investment begins from domestic investors. and you have to guide them.”
“Through outreach programmes and establishment of a One-Stop-Center (OSC), we have created a streamlined system for addressing investor needs, supporting their business operations.”
“For the first time in Rivers State, 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.”
He outlined the plans ahead thus: “One of our cardinal focuses at RSIPA is to enhance the operating climate and improve the ease of doing business.
“We are committed to creating a vibrant and business-friendly environment that attracts and retains investment. We are also working closely with other ministries, departments, and agencies to harmonize our activities.
“Collaboration for us is key; we see Rivers State as a single ecosystem where all stakeholders work together to support investment inflow and build a favorable environment for businesses to flourish.”
For the region, he lamented the situation whereby “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. This is because some proposals will involve other states. There is thus need to collaborate.”
He gave examples of projects that cannot be for one state, pointing out that “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, calling on all the agencies in the BRACED states to sell the idea to their governors.
“There is an oil route from Opobo to Akwa Ibom where Sterling Oil is operating. It’s a route of interest. Gov Sim Fubara wants us to synergise with other states economically. The best time is now because all the governors are now in one political party.”
“Let the governors know that BRACED task is not a competition but as a collaboration. We have the Niger Delta Development Commission (NDDC), the South-South Chambers of Commerce, Industry, Mines and Agriculture (SSCCIMA), the Niger Delta Chambers of Commerce, Industry, Trade, Mines, and Agriculture (NDCCITMA), etc. This is the ripest time to strike the iron.”
In her remarks, Director General of the Bayelsa Investment Promotion Agency (BIPA), Patience Abah, in her presentation titled ‘Closing the Value Capture Gap’, showed how the BRACED states can win bigger by playing together to present a joint economic front.
On his part, the Permanent Secretary, Federal Ministry of Industry, Trade and Investment (FMITI), Abuja, Nura Rimi, who was represented by a Deputy Director in the Ministry, David Franklin, said investment in people is the beginning of prosperity.
“The South-South is the hub of power of Nigeria due to hydrocarbon industry, blue economy, agriculture, tourism, etc.”
In his welcome remarks, the Director General of the BRACED Commission, Joe Keshi, said the Roundtable was themed around synchronizing investment frontiers in a strategic framework for South-South economic integration.
The Roundtable ended with a communique that recommended setting up a monitoring committee, and other organs to drive integration and investment. the communique is reproduced below:
Communique:
Regional Symposium on Investment in the BRACED States
Participants and Representation:
Regional Heads: Leaders from the investment commissions of Bayelsa, Rivers, Akwa Ibom, Cross River, Edo, and Delta states were in attendance.
Federal and Private Sector: Attendees included officials from the Federal Ministry of Commerce, Industry, and Investment; the Nigeria Economic Summit Group; and private sector leaders in oil and gas, railways, agriculture, power, and the blue economy.
Regional Assessment:
Strengths: Participants recognized the South-South as a gateway to Nigeria’s economic transformation, citing its abundant natural resources, fertile soil, cultural traditions, and strategic international trade routes.
Challenges: Acknowledged hurdles include infrastructural gaps, environmental issues, governance deficiencies, an unwelcoming business environment, and restricted regional integration.
The “Value Capture” Shift: The symposium identified a need to move from a resource-dependent model to a diversified, value-added, and investment-driven economy.
Strategic Objectives
The symposium resolved to position the South-South as:
Nigeria’s gas industrial hub.
West Africa’s maritime gateway.
A leading blue economy zone.
A center for value-added manufacturing.
Key Resolutions and Action Plan:
To unlock the region’s untapped potential, the following actions were resolved:
Framework Development: Create a harmonized Regional Investment Promotion Framework, a BRACED Investment Charter for uniform investor service, and a Regional Investment Roadmap.
Infrastructure and Project Planning: Align transport, energy, and logistics corridors while developing a pipeline of priority, bankable projects.
Economic Reforms: Improve the ease of doing business through regulatory reforms, security enhancements, and improved infrastructure.
Social and Human Capital: Prioritize youth empowerment, entrepreneurship, and skills development as long-term prosperity drivers.
Technical Oversight: Establish a Technical Working Group to oversee the implementation strategy.
Conclusion
The symposium urged state governments, investors, and development partners to collaborate in transforming the BRACED states into a beacon of economic dynamism. The BRACED platform will continue to coordinate regional economic integration and investor engagement.
Signed at Port Harcourt, March 19, 2026:
Mrs. Patience Ranami Abah, DG, Bayelsa State Investment Promotion Agency.
Dr. Chamberlain S. Peterside, DG, Rivers State Investment Promotion Agency.
Mr. Imo-Abasi Jacob, MD/CEO, Akwa Ibom Investment Corporation.
Mr. Adams O. Jaho, Director, Delta State Investment Promotion Agency.
Amb. Joe Keshi, Director General, BRACED Commission.