What can Nigeria's Rivers State offer investors?

Investors looking to diversify their portfolios in unsaturated markets like Rivers State in Nigeria are in for a treat. According to Austin Tam-George, a former senior executive fellow at the Kennedy School of Government, the real estate, renewable energy, and tourism sectors in Rivers State remain vibrant and ripe for investment. In a recent interview with CNBC Africa, Tam-George shed light on the plethora of opportunities available in Nigeria's garden city. Rivers State, often overshadowed by the likes of Lagos and Abuja, has emerged as a promising investment destination. With the third highest internally generated revenue in the country, the state offers a conducive environment for investors seeking new frontiers. Tam-George highlighted the significant investments being made in real estate, with the government spearheading the construction of 20,000 housing units for low-income workers. The beautiful coastal character of Rivers State presents an attractive proposition for investors looking to capitalize on a burgeoning market. Moreover, the tourism sector in Rivers State is experiencing a revival, with the Landmark Group pledging over 30 billion Naira towards its development. The state government is also offering incentives such as tax rebates and accelerated certificates of occupancy to attract new investors. These measures aim to instill confidence in potential investors and stimulate economic growth in the region. Addressing concerns regarding security, Tam-George emphasized the government's efforts to enhance coastal security through strategic partnerships with security agencies. The recent provision of gunboats to the Navy demonstrates a commitment to safeguarding investments in key sectors such as oil and gas. As stability increases, the state is poised to attract a wave of fresh investments, leading to job creation and a decline in crime rates. In terms of infrastructure development, Rivers State is investing over 250 billion Naira to improve connectivity and accessibility beyond the central hub of Port Harcourt. Projects such as the trans-Calabrian road aim to unlock new areas for investment and foster economic growth. Additionally, the state is embracing renewable energy solutions, with a focus on transitioning to solar power for critical assets. This shift towards sustainability positions Rivers State as a potential leader in renewable energy market in Nigeria. Human capital development is another crucial aspect being addressed by the government, with a budget allocation of 63 billion Naira towards education. Plans to recruit 3,000 teachers signal a commitment to upskilling the workforce and enhancing the quality of skills available to investors. By prioritizing human capital development, Rivers State aims to create a dynamic and competitive labor force capable of meeting the demands of various industries. Overall, Rivers State presents a compelling investment proposition for both local and international investors. With a favorable business environment, strategic incentives, and robust development plans in place, the state is poised to emerge as a key player in Nigeria's economic landscape. As opportunities continue to unfold in real estate, renewable energy, and tourism, Rivers State stands ready to welcome eager investors seeking growth and diversification in untapped markets.