Delta State Relaunches Security Trust Fund to Boost Investment and Economic Growth
The Delta State government has relaunched its Security Trust Fund, a public-private partnership initiative aimed at enhancing security and fostering a conducive environment for investment and economic growth. Governor Sheriff Oborevwori’s administration has renewed its focus on collaboration with the private sector to achieve this goal. The move is seen as a crucial step towards realizing President Bola Tinubu’s vision of growing Nigeria’s economy to $1 trillion by 2030.
As one of the top oil-producing states in Nigeria, Delta plays a significant role in the country’s hydrocarbon economy. Data from the Nigerian Upstream Petroleum Regulatory Commission shows that Delta maintained its position as the leading producer of crude oil and condensates from 2023 to 2024. The state’s security situation has improved considerably under Oborevwori’s leadership, with a marked reduction in oil-induced violence, crimes, and inter-communal crises.
The relaunch of the Security Trust Fund, which was originally established in 2013, is expected to mobilize resources to complement government spending on security. The fund will be used to acquire modern surveillance technology, operational vehicles, and communication equipment, as well as support capacity-building for security personnel and community vigilante groups. Industry leaders, including Access Holdings Plc’s Aigboje Aig-Imoukhuede and Zenith Bank’s Jim Ovia, have pledged their support for the initiative, with donations of ₦100 million and a projected target of ₦100 billion by the end of 2025.
The Security Trust Fund is seen as a defining moment in Delta’s history, with the potential to attract significant investments and boost economic growth. The state’s improved security situation has already led to an influx of Nigerians from other states, with many investing in hospitality, real estate, and other productive activities. The return of active nightlife and socio-economic activities in the state is a testament to the growing investor confidence in Delta.
The success of the Security Trust Fund is crucial to the realization of President Tinubu’s economic vision, and the federal government is likely to take keen interest in the initiative. With its potential to enhance security, attract investments, and boost economic growth, the fund is a significant step towards achieving a more stable and prosperous Nigeria.