- The announcement came in a communiqué issued at the conclusion of a two-day investment symposium held in Port Harcourt
- The symposium also identified major investment challenges in the region, including inadequate infrastructure
- They also committed to positioning the South-South as Nigeria’s gas industrial hub
The BRACED Commission, a regional development organization representing six South-South states, has announced plans to focus on the blue economy and manufacturing as key drivers of economic activity in the region.
BRACED, which stands for Bayelsa, Rivers, Akwa Ibom, Cross River, Edo, and Delta, said this initiative aims to strengthen economic integration, sustain growth, and create jobs by boosting manufacturing and agricultural development, Eko Hot Blog gathered.
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The announcement came in a communiqué issued at the conclusion of a two-day investment symposium held in Port Harcourt, the capital of Rivers State, on Thursday.
The document was signed by heads of the Investment Promotion Agencies from the member states and read to journalists by the BRACED Commission’s Director General, Ambassador Joe Keshi.
The Commission also established a technical working group tasked with developing a regional investment roadmap and implementation strategy for the South-South.
The communiqué emphasized the Commission’s commitment to shifting member states away from a resource-dependent economic model toward a diversified, value-added, and investment-driven economy. It highlighted the importance of collaboration in achieving sustainable regional growth.
“The BRACED states are endowed with abundant natural resources, fertile land, rich cultural heritage, and strategic positions along international trade routes. The South-South is not just a resource base; it is a gateway to Nigeria’s broader economic transformation,” the statement said.
The symposium also identified major investment challenges in the region, including inadequate infrastructure, environmental concerns, governance gaps, a challenging business environment, and limited regional integration.
However, the Commission noted that these obstacles can be addressed by attracting targeted investments to stimulate job creation and overall economic growth.
“To fully unlock the region’s potential, BRACED states must work together to attract the right investments. This will establish the South-South as a regional economic hub and a destination for global investors, turning potential into tangible prosperity for all residents,” the communiqué added.
The BRACED states reaffirmed their goal of transforming from a resource-based economy to a diversified, value-added, and investment-led regional economy.
They also committed to positioning the South-South as Nigeria’s gas industrial hub, a West African maritime gateway, a leading blue economy zone, and a center for value-added manufacturing.
The symposium further stressed the need for enhanced cooperation among regional investment commissions to achieve collective development goals.
It called on state governments, investors, development partners, and civil society groups to support the transformation of BRACED states into models of regional cooperation and economic vitality.
Mrs. Patience Ranami Abah, Director General of the Bayelsa State Investment Promotion Agency, was appointed to lead efforts to advance BRACED’s regional economic agenda.
In her presentation, titled “Closing the Value Capture Gap,” Abah emphasized that the South-South, as Nigeria’s energy powerhouse, must do more than supply resources, it must also add value and drive industrial growth.
“The South-South is currently Nigeria’s ‘Energy Tank.’ Through economic integration, our aim is to become Africa’s ‘Industrial Engine.’ We must move beyond being merely the source of wealth to being the center of its transformation,” she said.
Dr. Billy Gilis-Harry, Chairman of the Board of Trustees of the Coalition of South-South Chambers of Commerce, Industry, Mines, and Agriculture, praised the renewed efforts to reposition the Commission.
Officials from the federal Ministry of Industry, Trade and Investment, the National Economic Summit Group, and private sector leaders also attended the symposium.
He added, “With full support from all member states, the BRACED Commission will serve as a unifying platform to drive growth and prosperity across the South-South region.”
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