The Chairman of the Board of Trustees (BoT) of the South-South, South-East Professionals of Nigeria (SESSPN), Mr. Emeka Ugwu-Oju, has strongly criticized the suspension of key democratic institutions in Rivers State following President Bola Tinubu’s declaration of emergency rule.
Ugwu-Oju called for the immediate reinstatement of Governor Siminalayi Fubara, Deputy Governor Professor Ngozi Odu, and the state’s elected lawmakers, stressing that the ongoing political instability is already driving away potential foreign investments.
On Tuesday, President Tinubu imposed emergency rule in Rivers State, citing political instability as the cause. However, in a statement issued on Thursday, March 27, 2025, Ugwu-Oju condemned the decision, describing it as counterproductive. He revealed that foreign investors who had previously shown interest in Rivers’ non-oil sectors are now withdrawing their plans and redirecting their focus to Lagos, where stability is perceived.
Ugwu-Oju shared the experience of an international investor who, after initial meetings with government officials in Rivers, had expressed confidence in the state’s business environment. However, following the dissolution of the state government, the investor abandoned plans to invest in Rivers, with Lagos emerging as the new primary destination.
The SESSPN BoT Chairman warned that the ongoing political crisis could have dire consequences for Rivers’ economy. He noted, “Rivers had been actively working to attract private sector investments to diversify its economy beyond oil and gas. Now, the uncertainty created by the emergency rule has made the state unappealing to serious investors.”
Ugwu-Oju cautioned that unless the situation is reversed, Rivers risks losing billions in foreign direct investment, reminiscent of the economic decline during the militant era when companies fled and never returned.
He further pointed out that the political turmoil jeopardizes the Port Harcourt to Maiduguri Economic Corridor, a major initiative designed to boost trade and industrialization across multiple Nigerian regions. This project was intended to position Rivers as a central economic hub.
In his statement, Ugwu-Oju urged the Federal Government to act swiftly to prevent lasting economic damage and restore democratic governance in Rivers. He emphasized that the people of the state should not be punished for political disputes among a few leaders, stressing the importance of resolving the crisis peacefully without undermining Nigeria’s democratic processes.
“The political stability that investors need is being compromised, and the current situation is sending the wrong message to both local and international stakeholders,” Ugwu-Oju concluded.
