Dr. Chamberlin Peterside addressing stakeholders at the BRACED states roundtable in Port Harcourt
Director-General of the Rivers State Investment Promotion Agency (RSIPA), Dr Chamberlain Peterside, has warned the BRACED states against allowing the economic carpet shift below their feet again.
BRACED is an acronym representing the six states in the South-South geopolitical zone of Nigeria that formed a regional economic development bloc. Th letters stand for Bayelsa, Rivers, Akwa Ibom, Cross River, Edo and Delta.
Dr Peterside, who spoke during the the regrouping of the BRACED Commission at a roundtable in Port Harcourt during the week, said the oil region allowed the oil economy to shift below their feet, but that they must not allow that to happen again in the coming era of the blue economy.
The Port Harcourt roundtable was preparatory to an economic summit in the near future.
DG also used the platform to outline plans to fast-forward the investment wheels of the state that has witnessed frequent crisis for over a decade.
With the BRACED Commission just bouncing back, the roundtable featured the investment promotion agencies of the cooperating states: Bayelsa, Rivers, Akwa Ibom, Cross River, Edo, and Delta states.
Dr Peterside not only chaired the roundtable but made presentations for Rivers State economic landscape. He hailed the rebound of the BRACED Commission which did well at the onset. “The governors of the region were one and united for one cause. Then, politics came and everything scattered.”
“The agenda is simple, to integrate the economy of the region into one strong bloc.” He admitted that Rivers State’s investment promotion agency is very young, plus six months in the limbo of state of emergency. “This thus is a very unique opportunity to get resurgent momentum.”
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. “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. 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.”
He called on all the agencies in the BRACED states to sell the idea to their governors. “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.”
Patience Ranami Abah, Director General of the Bayelsa Investment Promotion Agency (BIPA), also shook the floor when she presented what she termed ‘Closing the Value Capture Gap’. She showed how the states will win bigger by playing together to present an economic front.
David Franklin, a deputy director, who represented the Permanent Secretary, Federal Ministry of Industry, Trade, and Investment, Abuja, 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.”
Amb. Joe Keshi, the DG, BRACED Commission, in his welcome remarks, said the roundtable was themed around synchrosnising 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.
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.
