By CHARLES IWUOHA

Chairman of the Board of Trustees (BoT) of the South-South, South-East Professionals of Nigeria (SESSPN), Mr. Emeka Ugwu-Oju, has strongly condemned the suspension of key democratic institutions in Rivers State following the declaration of emergency rule by President Bola Tinubu.

He called for the immediate reinstatement of Governor Siminalayi Fubara, his deputy, Professor Ngozi Odu, and the state?s elected lawmakers, warning that the political crisis is already deterring foreign investment.

Last Tuesday, President Tinubu imposed emergency rule in Rivers State, citing ongoing political instability.

However, in a statement released yesterday, Thursday, March 27, 2025, Ugwu-Oju, criticised the move as counterproductive.

He revealed that foreign investors who had previously expressed interest in the state?s non-oil sectors are now withdrawing, shifting their focus entirely to Lagos due to the absence of a constitutionally recognised government in Rivers.

The SESSPN BoT Chairman shared an account of a recent visit by an international investor who had been keen on opportunities in Rivers, Lagos, and Abuja. Before leaving Nigeria, the investor had expressed confidence in Rivers State?s business environment following meetings with government officials. However, with the sudden dissolution of the state government, all investment plans for Rivers have been abandoned, with Lagos now the sole focus.

According to Ugwu-Oju, this situation is disastrous for the state?s economy. His words: ?Rivers had been actively working to attract private sector investments to diversify beyond oil and gas.

?Now, with the uncertainty created by emergency rule, no serious investor is willing to engage with a state administration that lacks constitutional legitimacy.?

Ugwu-Oju warned that if the situation is not reversed, Rivers could lose billions in foreign direct investment, similar to how companies fled during the militancy era and never returned.

He noted that the ongoing political turmoil also threatens a major development initiative known as the Port Harcourt to Maiduguri Economic Corridor. ?This ambitious project, aimed at boosting trade and industrialization across the South-East, South-South, North-Central, and North-East regions, was set to position Rivers State as a key hub,? he lamented.

The SESSPN BoT Chairman stressed that the Federal Government must act swiftly to prevent lasting economic damage.

He urged the presidency and the National Assembly to reinstate Rivers? elected leaders and restore democratic governance in the state. His argument: The people of Rivers should not be punished for political disputes among a few politicians.

Noting the mounting public concern, Ugwu-Oju insisted that any political crisis in Rivers should be resolved peacefully ? without undermining the democratic process.

He reiterated that, ?investors require stability, and the current situation is sending the wrong message to both local and international stakeholders.?

Update news