Bayelsa set to leverage fora, private sector for economic growth

Bayelsa State government is set to leverage the success of the first investment forum coupled with the abundant opportunities in the state to drive economic growth so as to impact positively on the lives of the citizens, according to Kemela Okara, state commissioner for trade, industry and investment.

In an interaction with some select journalists in Lagos last week, Okara said “the purpose of the Second Bayelsa State Economic Summit scheduled for July 29 – 31 in Yenagoa, is that considering the chequered background of the state, the post amnesty, Governor Seriake Dickson, saw very clearly that there was need to communicate that Bayelsa is open for business with abundant of opportunities for discerning investors.”

Consequently, the first forum last year attracted over 800 investors and delegates, which Okara sees as signalling a break from the past characterised by militancy, kidnapping and pipeline vandalism.

Besides, memoranda of understanding (MoU) were signed in power generation, pharmaceuticals, telecoms, ICT and agriculture sectors as the forum provided opportunity for the state to communicate a new Bayelsa to the investors.

For instance, last month alone about N20 billion worth of agreements were signed under the public private partnership (PPP) agreement, the commissioner said.

Consequently, he expressed optimism that this year’s forum would provide opportunity for the state to consolidate on the gains and move the state forward.

The state is set for the forum, titled “Creating Africa’s Model Economy,” with a vision to becoming the model of an African economic success story and the model of an African economic success story, Okara said, listing the mission to prosperity for all, growing enterprise and creating job.

The focus areas for the forum include oil and gas, industrial activity, power generation, agriculture and light manufacturing.

Specifically, he listed the strengths of the state to include oil and gas, natural deep sea and fertile land.

The state is endowed with opportunities, which he listed to include political will and favourable policies as demonstrated by the present administration. The support from the Federal Government is also seen as an opportunity for discerning investors to take advantage.

The government is committed to tackling issues of poor infrastructure, low skills base, access to finance and entitlement culture, while issues such as insecurity, political uncertainty and reduced revenues are being addressed, he said.

According to the commissioner, the economic goals are also segmented to ensure that they impact positively on the lives of the citizens.

In the short term (2014 – 2016), the state would concentrate on industrial parks, light manufacturing and power generation, while mid-term (2014 – 2017) are oil and gas, industrial and power generation hub. Long term (2014 – 2020, includes premier Gulf of Guinea Manufacturing and Export Zone.

He reiterated the strategy of the forum as industrialisation, while the mission is jobs and enterprise with creating Africa’s model economy as the vision.

Under the focus area of light manufacturing, he said that the establishment of Eco Industrial Parks, which are conceptually not one size fits all, but a multi-sector manufacturing location.

It is a real estate for manufacturing, just as the existence of real estate for commercial and residential.

To ensure that the parks are completed and sustained, measures have been put in place to ensure completion and sustainability, he said.

Consequently, they will be private sector driven with all the actions taking in the true sense of global best practice, with the government as enabler and facilitator.

There will be the demonstration of the complementarities of some ongoing state government projects with the Eco Park, with the hope of creating an enduring legacies.

He singled out the airport as one of such projects, which is due for completion last quarter of the year, with the completed road network in the area providing easy access into and out of the state.

Eco Industrial Parks, he said, are the new global best practice for industrial parks because they promote green areas, waste recycling, on-site support services such as banking, and in many cases, including residential accommodation.

He summarised his address by saying that “Bayelsa State is industrialising, because, to be among others, provide jobs as no economy can break out of poverty based on income derived solely from selling unprocessed raw materials.”

He commended the harmonious relationship existing between the state and the Federal Government, saying the government at the centre had been supportive in the grant of the Oil and Gas Free Trade Zone Status to Brass, where Brass LNG and Brass Fertiliser are to be sited.