New Business Forum Launched for Economic Development in Obio/Akpor
In an effort to boost the economy of Obio/Akpor, a significant initiative has taken shape with the establishment of the Obio/Akpor Business and Economic Forum (OBEF). The unveiling of this forum comes amid calls from Deputy Prime Minister for an end to violent revenue collection practices within the region.
Leadership and Vision for Growth
Gift Wall, a management expert and lecturer at the University of Port Harcourt, has been appointed as the Chairman of the newly launched OBEF. Wall emphasized that this initiative marks a transformative moment for the local government area, aiming to enhance economic opportunities and community resilience.
Diverse Economic Landscape
Wall described Obio/Akpor as one of Nigeria’s most vibrant local government areas, home to over three million residents and a mix of nanotech, micro, small, and medium enterprises, alongside large corporations and startups. This diverse economic landscape is complemented by educational institutions and military facilities, offering both challenges and opportunities for strategic development.
Building Collaborative Frameworks
Highlighting the importance of collaboration, Wall introduced the “OBALGA ARISE Framework,” which underscores that socio-economic progress relies on open dialogue and partnership between private and public sectors. OBEF is designed to be a structured quarterly platform where business leaders, policymakers, and academics can converge to discuss challenges and opportunities.
Fostering a Business-Friendly Environment
The forum aims to achieve several crucial objectives. Firstly, it seeks to create an inclusive space for stakeholder engagement that encourages a free exchange of ideas and sustainable solutions. Secondly, there will be a focus on enhancing the regulatory framework to facilitate a business-friendly climate, which includes improving digital infrastructure for permits and payments necessary for economic growth.
Community Engagement and Social Responsibility
Another pivotal goal of OBEF is to promote corporate social responsibility and shared accountability within the community. Wall stated that local firms would be encouraged to actively contribute to the region’s socio-economic development through compliance initiatives, job creation, and community engagement.
Addressing Local Economic Challenges
In his keynote address, Okechukwu Onuchukwu, Vice-Chancellor of Ignatius Ajulu University of Education, noted the necessity for reforming revenue collection methods. He called for the elimination of multiple taxes and urged local governments to support the informal sector, which is crucial for wealth creation. Onuchukwu also emphasized the importance of improving educational resources, particularly in technology, to enhance competitiveness among students in rural areas.
Future Directions and Collaborative Models
Onuchukwu outlined several strategic models for improving local governance and economic activity, including public-private partnerships and community engagement in project planning. He advocated for infrastructure development and a focus on agricultural commercialization to transform local economies and ensure sustainable growth. Effective collaboration among local stakeholders is essential for fostering a more vibrant and productive economic environment.
