Asaba: Gov. Sheriff Oborevwori of Delta has revealed that the state government has entered into a Memorandum of Understanding with Serendib Capital and Eight Versa, both based in the United Kingdom, to initiate a Blue Carbon Partnership. This announcement was made during his address to the State House of Assembly on the State of the State, marking his second year in office.
According to News Agency of Nigeria, the initiative aims to conserve over 270 hectares of mangroves and seagrass, which are vital to the state’s ecosystem and climate resilience. The project, registered with Verra, the world’s largest carbon registry, is expected to create approximately 4,500 direct jobs and numerous indirect job opportunities. It will economically benefit the state and coastal communities through carbon credit sales, promote regenerative agriculture, and biochar production. Additionally, it will act as a natural defense against coastal erosion and flooding while improving the local environment for residents.
The governor stated that this innovative partnership positions Delta at the forefront of sustainable development and climate action in Nigeria. He further emphasized the state’s collaboration with the Federal Government to attract impactful developmental initiatives. Specific officers have been appointed to liaise with federal agencies to facilitate the attraction of federal government initiatives to Delta.
Gov. Oborevwori announced that Delta State is a beneficiary of the second phase of the Special Agro-Industrial Processing Zone (SAPZ) initiative, supported by the Federal Government and the African Development Bank. The state has also expressed interest in the Federal Livestock Development Programme, which aims to modernize livestock production and integrate value-chain processing and marketing. These initiatives are part of a comprehensive economic program to build a stronger and more inclusive Delta State economy.
The state government has also engaged in Public Private Partnership (PPP) initiatives in agriculture to enhance production and food security. An initial investment of ?1.165 billion has been approved for pilot programs in Aviara in Isoko South LGA and Umutu in Ukwuani LGA, with additional funding planned as the initiative scales. These efforts aim to ensure year-round agricultural productivity and support rural livelihoods.
Earlier this year, the Delta State Government, in collaboration with the Bank of Industry, launched a ?1 billion Managed Fund Scheme for Micro, Small, and Medium Enterprises (MSMEs). This revolving loan facility provides affordable credit access to MSMEs, with loans ranging from one to five years and a nine percent annual interest rate. This initiative is designed to stimulate local enterprise, generate jobs, and drive inclusive economic growth.
Additionally, Gov. Oborevwori highlighted the revival of the Kwale and Koko Free Trade Zone, initially established by the previous administration. Six companies are currently operating within the zone, with more showing interest. To reaffirm commitment, the governor approved the payment for the renewal of the zone’s annual licensing fee and associated charges to the Central Bank of Nigeria, ensuring compliance with regulatory obligations and enhancing the zone’s appeal to potential investors.
