INVEST IN RIVERS STATE

Government of RIVERS STATE 2010Published by Henley Media Group Ltd in association with the Commonwealth Secretariat

GOVERNMENT OF RIVERS STATE

Rivers State, with Port Harcourt as capital,

is the economic hub of the well known

Niger Delta region of Nigeria. Better known as

Nigeria's oil and gas centre, Rivers State is a place of great

diversity. It is home to a multiplicity of languages, cultures and

various economic activities and markets.

The local environment is no less colourful with its endless creeks,

rivers, lagoons, marshes, swathes of rain and mangrove forests

and ocean fronts. In the on-going harmonisation of these various

elements, Rivers State is birthing forth one of Africa's greatest

economic promises ever.

RIVERS STATE

T r e a s u r e B a s e O f T h e N a t i o n

N i g e r i a

GOVERNMENT OF RIVERS STATE

Rivers State with capital in Port Harcourt is a globally

recognised socio-economic centre and one of the states in

Nigeria. Rivers State is Nigeria's oil and gas centre. It is also the

threatened but colourful eco-tourists' paradise with its over

3000 creeks, endless marshes, lagoons, mangrove and rain

forests teeming with a multitude of the various faces of

nature's fauna and flora striving for life beside the polluting

presence of oil exploration activities: the enigmatic birthplace of

globally acclaimed civil environmental rights activists co-existing with hot-headed

militants.

Indeed today, Rivers State is on course to fulfilling its promises of becoming Africa's

greatest economic success. It has one of the richest oil and gas resource profile in

Africa, a beautiful natural environment, and the appropriate regulatory framework

to enable businesses thrive. Most importantly, it possesses a hospitable but very

aware local population demonstrably committed to doing business with genuine

investors.

The opportunity represented by the state is magnified by the fact that it is

governed, today, by a team committed to delivering all the basic infrastructural and

policy support necessary for harnessing the dream that the state represents. Our

global standing arising from the judgement of such international agencies like

Standard and Poor as well as Fitch bear eloquent testimony to this: Rivers State is

your destination of first choice for an investment bouquet that would keep your

mind at rest.

I invite you to visit Rivers State.

Rt. Hon. Chibuike Rotimi Amaechi.

Governor, Rivers state

W E L C O M E T O

NIGERIA'S TREASURE BASE

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Rivers State was created on the 27 of May, 1967 with capital at Port Harcourt. In 1996, today's Bayelsa State, was carved out of it

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leaving behind a geographical space of 11,077km encompassing large swathes of tropical rain and mangrove forest as well as

splendid arable land with interesting investing opportunities in crop and fish farming.

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Rivers State was created on the 27 of May, 1967 with capital at Port Harcourt. In 1996, today's Bayelsa State, was carved out of it

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leaving behind a geographical space of 11,077km encompassing large swathes of tropical rain and mangrove forest as well as

splendid arable land with interesting investing opportunities in crop and fish farming.

Rivers State with a total GDP of US$21,073,410,422 (GDP per capita of $3,965) and a population of some 5.6 million people, is

the second largest economy in Nigeria as well as one of the fastest growing metropolitan cities in Africa;

Strategic economic hub of the

Niger Delta region

Borders the Atlantic Ocean to the south, the two major commercial centers,

Aba and Onitsha in the south-eastern states of Abia and Anambra respectively

to the North and other Niger Delta states;

Has three major but strategic universities (University of Port Harcourt,

University of Science and Technology, Port Harcourt and University of

Education) and other institutions of higher learning;

Possesses two major refineries, two major seaports including an international

one, and is easily accessible by road, rail, sea and air;

Has direct access to the Atlantic Ocean which links it to other continents of the

world providing immense opportunities in marine and maritime

transportation/related sectors;

Is home to multinational Oil and gas companies like Bonny NLNG, Shell

Petroleum Development Company (SPDC), MOBIL, AGIP, and Chevron. It also

has established a free trade zone (the Oil and gas Free Trade Zone);

Is the regional headquarters of several Nigerian banks;

credited with a long term foreign and local currency

ratings of 'B+” and a national long term rating of 'AA-' by

Fitch: a rating higher than even the rating of the

sovereign, Nigeria;

is the first state in Nigeria to receive a Standard and Poor

rating: a 'B' long term credit indicating a 'stable outlook

based on improved transparency';

does not have any debt portfolio with any local or

international bank. The State is not in any way indebted

and has full capacity to source for funds and finance

projects;

has passed a compendium of investor friendly legal

framework including a Procurement Law outlining the

framework for public procurement of goods, works and

services;

Global economic standing

GOVERNMENT OF RIVERS STATE

INVESTMENT PROFILE OF RIVERS STATE

Developmental Governance

INVESTMENT BY THE STATE GOVERNMENT FOR STRENGTHENING LOCAL ECONOMY (VERIFIABLE)

INFRASTRUCTURE

EDUCATION

POWER

HEALTH

o From 2008-2010, a minimum of One Hundred Billion Naira per year invested in the

provision of roads, bridges, and other social amenities;

o Currently, about 800km o roads are under construction (with 250 already completed);

o 10 major bridges under construction (with 3 already completed);

o 20 minor bridges under construction (4 completed), 2 flyover/interchange under

construction (2 already completed);

o 6 land reclamation/shore protection projects (Andoni, Opobo, Buguma, Abalama,

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Olombie/Owukiri Island, Obama-Okirikawith 1,140,000 Km completed);

o 2 major markets and a shopping mall under construction (phase 1 of mile 1 market

housing 960 shops and two banking halls completed);

o 350 model primary schools at various stages of completion;

o 24 model secondary schools across the State at various stages of completion;

o Provision of ICT in schools and fully equipping the schools;

o Comprehensive training programmes for teachers at the primary and post-primary

levels;

o Three power stations built and functional at Omoku (150 Mega Watts), Trans-Amadi

(130 Mega Watts), and Eleme (75 Mega Watts). By June 2011, capacity will be increased

to 500 Mega Watts under the $195 million dollars 180MW gas turbine awarded to

Saipem;

o Seven Transmission stations (132/33 Kilo Volts) and 7 Distribution injection sub-stations

33/11 KV built;

o Construction of 160 Health centers in all the 23 Local Government Areas to engage

primary health care in the state;

o Construction of a 1000 bed specialist hospital, the new Rivers State Modern dental and

maxillofacial Hospital and the Kelsey Harrison (Niger) Hospital;

o Syringe factory;

o Construction of biolarvicide manufacturing company;

Completing these projects and the

provision of the necessary expertise needed to

sustain them are areas where the state would

appreciate investors to come in.

Is one of the states in Nigeria that is fully committed to fiscal federalism among the Federal, state and local government

levels of governance;

Has been recognized at various levels for its practice of transparent and accountable governance spread across vibrant

executive, legislative and judicial arms of governance;

Currently implements a policy thrust built on well articulated mission pledges viz:

to serve Rivers State's stakeholders by rendering transparent and accountable stewardship anchored on

integrity and good governance;

to improve the quality of life of the people through rapid infrastructural development;

to empower Rivers State's people and stakeholders economically in a peaceful, just and harmonious society

under God;

GOVERNMENT OF RIVERS STATE

TRANSPORTATION

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ENVIRONMENTAL SUSTAINABILITY

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Rivers State is committed to the provision of mass

transportation to cater to its daily swelling population as well

as the expected influx of persons into the state.

To that end, the state is embarking on the following;

N60 billion Mono rail project (N11 billion already paid);

Establishment of buses, land and water taxis;

Construction of three bus terminals.

The maintenance of the environment on a sustainable basis

has become a very key component of the State's socio-

economic policy direction. Rivers State government is

currently involved in various sustainable environment

maintenance schemes including:

Waste-to-wealth

Scrap-to-wealth; and

Other mass systems of refuse disposal compatible with

international best practices.

GOVERNMENT OF RIVERS STATE

Our efforts and other key areas

of interest to investors

THE GREATER PORT HARCOURT

PROJECT

The Rivers State capital, Port Harcourt popularly

known as the 'Garden City” has over the years

seen an upsurge in population growth which has

resulted in the overstretching of its infrastructural

base.

To reverse the development and restore the city to its

founding visions, the State Government has embarked on a

state-wide programme of urban renewal and development of

infrastructure chief of which is the development of Greater

Port Harcourt City project.

GREATER PORT HARCOURT:

OPPORTUNITIES

Greater Port Harcourt as conceived is to encompass an area

of approximately 1,900 square kilometers of land absorbing

some two (2) million persons. Its key anchors are the old Port

Harcourt city, Port Harcourt International Airport and the

Onne Harbour.

The new City is planned to be a modern fully serviced area of

2500 hectares of land with residential accommodation for

30,000 housing units, commencing with 3000 housing units in

Phase 1A.

GREATER PORT HARCOURT CITY

Urban renewal

SPECIFIC AREAS OF INVESTMENT IN

GREATER PORT HARCOURT'S NEW CITY

Crime prevention and integrated security system

24 Hours Electricity supply

Network of reticulated water supply

Public transportation system

Storm water management and disposal system

Residential neighbourhood

Commercial zone and structures

Industrial areas, parks and gardens

OTHER INVESTMENT OPPORTUNITIES

PROJECT

PARTICULARS

Monte @Rivers

Justice Adolphus

Karibi-White

Hospital

IP @Rivers

New University

of Science & Technology

10,000 hectares Oil

palm Estate

USD 150m provision

for equity and debt

financing

USD 150m

N28bn

N60bn

N7bn

USD 100m

USD 120m

N28bn

N60bn

N7bn

TOTAL COST FUNDING

REQUIREMENTS

Invest Tour Live. .

in Nigeria’s Garden City...invest

PORT HARCOURTRIVERS STATE, NIGERIA

www.riversstate.gov.ng

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CREDITS

The Invest in Rivers State digital book was compiled and edited by Sylvia Powell for Henley Media Group Ltd.