…As RSIPA shows how one-stop-centre will do much magic
Tensions and upheavals may be part of the contemporary existence in Rivers State since 2012 but investors are said to go where profit is huge, no matter the tensions.
This seems to be the undertone in the Rivers State investment cells and may have informed the unwavering confidence in the seven-month-old Rivers State Investment Promotion Agency (RSIPA) headed by Lawrence Fubara Anga, a professor of law who is also a Senior Advocate of Nigeria (SAN) as chairman; and the international exposed investment expert, Chamberlain Peterside, as the Director-General that oversees strategies and execution.
So, in the wake of fresh tensions and war songs in the air, RSIPA invited who-is-who in business, investment, regulation, and administration to the biggest hall in the biggest hotel in the Garden City to lay their plans on how businesses would be run henceforth.
The hallmark is how Ease of Doing Business (EoDB) would be prosecuted in the state, and this was highlighted by the unveiling of what businesses and investors have begged for many years now; a one-stop-centre where an investor walks in and gets all matters sorted out.
The make a difference, the Rivers One-Stop-Centre (RSOSC) will by driven by digital technology but will be a hybrid (physical office). The biggest attraction that attracted positive oohs was the revelation that RSIPA would help serious-minded business people to secure some difficult licenses from federal agencies for sensitive businesses probably in hydrocarbon sector, in waste management, agric, processing, and manufacturing.
Another eye-opener was the revelation that though big-thicket businesses are much welcome and important, but that focus would be on small and medium size business (SMEs) which have been found to be the plank of most economies around the world. SMEs are said to boost gross domestic products (GDP) of nations and provide the jobs, up to 70%. Serious societies thus do everything to protect and promote SMEs, and now nano businesses with fair taxes, security, capital, etc.
The chairman set the tone of the evening with his policy forward which paid huge reference to the invited guests who henceforth are their segmented publics.
He commended Gov Sim Fubara who caused the first-ever Economic and Investment Summit that has given birth to not only the investment promotion agency but other economic and investment policy initiatives that now make Rivers State open for business.
He recognized the dogged commissioners that work with the history-making governor, the judges, members of the legislature, and then the organized private sector (OPS) for whom actually the endeavours are being enacted.
He said the dialogue system with the OPS is expected to be continuous, but in a state such as Rivers with fluid political terrain, only change that throws away both the baby and the bath water is permanent.
Giving some background, he said the RSIPA was established in August 2024 through Executive Order No. 002 of 2024, and a that a six-man board was inaugurated in September 2024, following key recommendations from the Rivers State Economic and Investment Summit held in May 2024.
He gave the stated objectives of the Agency contained in the Executive Order to include an initiative to drive investment, expand businesses, create employment opportunities, encourage SMEs, and, more importantly, nurture entrepreneurs, particularly among the youth.
At its core, RSIPA is a facilitation—not an implementation—Agency, he clarified. “It is designed to be small, efficient, highly effective, structured and operated in line with private sector principles to drive investment and economic expansion. The agency will work closely with and assist MDAs, the organised private sector, and project developers to conceptualise and implement business-friendly initiatives.”
He explained the mission and strategic focus to include centralized facilitation whereby RSIPA serves as a one-stop shop for investors, ensuring that inquiries and business interests are handled efficiently. “Our goal is to resolve bottlenecks, eliminate unnecessary bureaucratic delays, and foster a seamless investment process. During this event, the Director-General of the Agency will give a presentation on the purpose, functions, and strategic importance of the One-Stop Centre.”
Bottlenecks actually seem to be the greatest headache of the OPS and frequent change of policies. Even where policies are not yet changed, civil servants seem to derive joy in changing the rules and creating demigods around their desks.
On Ease of Doing Business (EoDB), the chairman said: “We will work hand in hand with MDAs to implement reforms, streamline business processes, and escalate critical issues that hinder investments. Our focus is to refine reform ideas into impactful policies that drive economic transformation. Focusing on areas such as Agriculture, Tourism and Hospitality, Manufacturing and Industrialization, Power and Renewable Energy, Education and Human Capital Development, Healthcare and Pharmaceuticals etc.”
This may mean that where a business owner has done the right thing and what is expected and is still not getting results, the RSIPA can step in. It is not clear if this will sometimes trigger sanctions on such civil servants.
On investment coordination, the chairman said: “RSIPA will act as a bridge between investors, MDAs, SMEs and key industry players, ensuring that investment-related activities are well facilitated, complemented, and coordinated for optimal impact.”
He pledged that the agency would have a policy and data-driven approach and will conduct comprehensive investment mapping of Rivers State, compile and update reliable economic and investment data, and use global best practices to attract and retain investors.
Most government agencies hardly cared to know if it was performing to mandate and standards. They lack key performance indicators (KPIs) to help them check their back. RSIPA will track its performance because a model for this exists. “To ensure that our work yields measurable results, RSIPA’s model incorporates a strong performance-tracking element that ensures MDAs remain accountable for reform implementation. This will help drive a culture of efficiency, effectiveness, and transparency in our investment promotion efforts.”
It was also rumoured that Gov Fubara was very keen on the Economic summit and on the creation of an investment promotion agency. Many hinted that any matter regarding the agency received express attention and no bureaucracy was allowed to triumph over business promotion.
The chairman seemed to confirm this in his message of appreciation when he said he described Gov Fubara’s support as ‘unwavering;, saying it made RSIPA a reality. “From approving office space and logistics support to providing a take-off grant, His Excellency has laid the foundation for success.”
He however promised to always ask for more because the new agency is still in its infancy and requires continuous support and nourishment to grow into a strong, fully-fledged investment platform.
He however assured that the future of the Rivers business climate secured and that RSIPA has a collective goal to create an environment where genuine private sector operators can thrive, driven by predictable policies and a commitment to reform. “This is just the beginning of an exciting journey, and I am confident that, with your support, RSIPA will play a transformative role in making Rivers State a leading investment destination. As I emphasised just last week at the Nigerian International Energy Summit in Abuja, a peaceful, safe, secure business environment creates conducive conditions for a productive economy because when Rivers State works, Nigeria works.”
Peterside, the Director-General, took the stage like a man with all the figures in his fingers to explain how the policy framework laid by the chairman would be delivered.
He gave the profile of the Agency to show the OPS that the RSIPA means business. He showed how they plan to improve the investment climate to the extent that businesses would prefer Rivers State and Port Harcourt. Many agree because the state has sizable population with purchasing power, something most investors search for no matter the risks.
Peterside talked about enhancing the ease of doing business, the major focus and implementation strategy, collaborating with the MDAs (which seems the diciest), and the main one, the One-Stop-Centre concept details.
He also talked about forging partnerships with the Organised Private Sector (OPS) which actually seemed to be why they all came in their numbers; and the key performance indicators (KPIs).
By the time the DG concluded his presentation, the business people who now discussed in hushed voices around their tables agreed that a new dawn has truly arrived Rivers State economic belt, if only peace can be given a chance.
Most OPS leaders at the event welcomed the coming of the investment agency and the emergence of the One-Stop-Centre. Chinyere Nwoga, first female president of the Port Harcourt City Chamber (PHCCIMA), welcomed the centre and observed that Rivers State has numerous investment opportunities that would require robust government policies to develop. She expressed the enthusiasm of the PHCCIMA to work with the state government to exploit the resources of the state.
She offered the unflinching support of the PHCCIMA at all times. Many felt the atmosphere indicated that the most important matter to the OPS, the ability of resolve of the state government through RSIPA to compel or encourage new business owners to first identify with the city Chamber and other specialised associations so as to be trusted by government, as is done in most other countries, may happen in Rivers State.
In her observation, Constance Nwokejiobi, President of the Bonny Chamber of Commerce (BOCCIMA), harped on the criticality of the existence of the RIPA and revealed the tremendous support the agency gave to BOCCIMA recently when trying to conclude a deal with the Caribbean group.
Nwokejiobi, a fellow of the chartered accountants of Nigeria (ICAN), urged the business sector to embrace the RIPA for huge benefits ahead.
Ofon Udofia, executive secretary of the Institute of Export Operations and Management (IEOM) raised issues on high tariffs in the Port Harcourt ports that tend to escalate costs in the state.
Others raised concerns on multiple taxes by local councils in the state while the issue of certificates of occupancy (CofO) were raised.
Government officials explained the details and said Gov Fubara does not allow CofO papers to last a day on his desk. Officials from the Ministry of Lands explained what causes delay and the wrong steps taken often by land owners.
The dinner that followed seemed to go down well with new and exciting prospects for investors, though the drums of war sounded down the hills which still reminds the audience that there are uncertainties to factor in, but the scientifically presented methodologies of facilitating businesses by the RSIPA seemed to douse all of that, whether the political contenders were of the mechanistic view theory (for self), or of the organic view theory (for good of the generality).
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