…Unveils blueprint at BusinessDay-PHCCIMA event

Gabriel Pidomson, Governorship candidate of the African Democratic Congress (ADC) in Rivers State, has unveiled an economic blueprint that seeks to move the state from dependence on government spending and oil dependency towards production, industrialisation and job creation.

Pidomson presented the blueprint on Thursday at an economic and governance engagement for governorship candidates in the state organised by BusinessDay in collaboration with the Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHCCIMA) in Port Harcourt on Thursday.

At the engagement tagged: A New Dawn: My Economic Blueprint For Rivers People, he said Rivers’ oil and gas resources, maritime assets, waterways, farmland and strategic location had not translated into broad prosperity.

“Rivers State is one of Nigeria’s most strategically endowed states. It possesses enormous oil and gas resources, a significant maritime economy, extensive waterways, fertile agricultural land, industrial infrastructure, commercial centres, educational institutions, a youthful population and a strategic location from Nigeria’s hinterland to the Atlantic Ocean.

“But these advantages have not translated sufficiently into widespread economic prosperity. A state that contributes substantially to Nigeria’s petroleum economy continues to experience unemployment, poverty, inadequate infrastructure, unreliable electricity, struggling small businesses, environmental degradation, weak agricultural value chains and declining household purchasing power.”

Pidomson said, if elected governor, his administration would pursue a fundamental restructuring of the state economy with production, enterprise and private investment as its central drivers.

“Our administration will pursue a fundamental transformation of the state’s economic structure, moving from an economy heavily dependent on government expenditure, petroleum-related activity and imported consumption towards one driven by production, private investments, industrialisation, entrepreneurship, technology, agriculture, maritime and human capital,” he said.

He said success would not be judged by the number of projects commissioned or funds spent, but by sustainable jobs, new businesses, industries attracted, improved incomes and families lifted out of poverty.

“Economic transformation will not be measured merely by the number of projects commissioned or the amount of money spent. It will be measured by the number of sustainable jobs created, businesses established, industries attracted, incomes improved, families lifted out of poverty and communities connected to productive economic opportunities,” Pidomson said.

He said the blueprint would be guided by six principles: production before consumption, enterprise before dependency, private investment as an engine of growth, shared prosperity, fiscal responsibility and environmental sustainability.

The ADC candidate said Rivers had significant fiscal capacity, but needed stronger public financial management.

According to him, the state recorded N428.42 billion in internally generated revenue in 2025 while the 2026 budget projected N487.6 billion in IGR and N1.85 trillion in total budget resources.

“This blueprint therefore rejects the assumption that every desirable project can be financed directly from the state treasury. The central strategy will be to use limited public resources to unlock much larger private investments while protecting essential public services,” he said.

Pidomson said industrialisation would be the central engine of long-term growth, with proposed clusters covering petrochemicals, manufacturing, agro-processing and maritime services in areas including Port Harcourt, Trans-Amadi, Ahoada, Omoku, Bonny, Okrika and Degema.

“Rivers must progressively become a location where raw materials are processed, equipment is manufactured, products are assembled, technology is developed and goods are produced for domestic and export markets,” he said.

Pidomson was moved to tears when he spoke on youth unemployment and the inherent threat to the state’s development and future.

He pledged to make job creation a measurable outcome of his administration’s economic policy, proposing a jobs and skills compact linking employers, schools, training providers and government as well as greenhouses and apprenticeships to create immediate opportunities.

“I do not understand how a governor can sit in Government House knowing that all your children do not have jobs. You expect trillions of naira over four years and your children do not have jobs; they do not even have hope,” he said.

Meanwhile, PHCCIMA is seeking a shift from extraction to value addition to turn around the economy of the state.

Chinyere Nwoga, President of PHCCIMA, in her keynote address, urged Rivers to convert its energy, marine, port and agricultural assets into production, jobs and export earnings, saying public spending and infrastructure must deliver measurable benefits to businesses and households.

“Rivers State is blessed. Rivers State is gifted. Rivers State is special. So the question would not be what do we have in Rivers State? The question and engagement should be on how do we convert what we have in Rivers State to work for our economy, to work for the people of Rivers State?” she said.

Nwoga said Rivers generated about N384 billion in internally generated revenue in 2024, citing the state government’s 2025 Citizens Budget.

She added that the 2025 budget provided for about N1.1 trillion in expenditure, including more than N600 billion in capital spending while the 2026 budget projected about N1.8 trillion in revenue and N1.4 trillion in capital expenditure.

“These figures clearly demonstrate sustainable physical capacity. But the critical question is, what economic capacity does this spending create? Does it produce income, business, jobs, production, investment, exports, higher incomes, revenue and productivity?” she asked.

She said Rivers should measure success through production, SME survival and growth, local procurement, private investment, exports, youth and women entrepreneurs, household incomes and productivity per worker.

Earlier, Patrick Ijegbai, General Manager, Business Development and Partnerships, South-East and South-South of BusinessDay, urged Rivers people to vote for the best candidates in the 2027 elections by scrutinising their plans and programmes before making their decisions.

Ijegbai said the event was designed to give citizens direct access to candidates and help them assess their readiness for office.

“The purpose of this event is to ensure that we give Rivers State people the opportunity to hear from the candidates directly on their plans and programmes for Rivers State.

“In doing this, we extended invitations to the three parties. They were aware of it, and two did not come for one reason or the other. But the one that came, the people in attendance heard from him directly. So it is a good one for us at BusinessDay.

“My advice and message to Rivers people is that they should ensure they vote for the best candidates. More importantly, they should ensure that 2027 comes with a good and informed decision.

“We can make a good and informed decision if we understand what everybody stands for. I wish them the very best. May the best man win. But I believe that people are beginning to be wiser now and are beginning to think beyond what they will get, and to think about their future and the future of their children yet to come,” he said.