The South-South, South-East Professionals of Nigeria (SESSPN) have condemned the suspension of democratic institutions in Rivers State following President Bola Tinubu’s declaration of emergency rule.
The group is calling 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 discouraging foreign investors.
President Tinubu imposed emergency rule in Rivers State last Tuesday, citing ongoing political instability.
However, SESSPN’s Chairman of the Board of Trustees, Mr. Emeka Ugwu-Ojo, criticized the decision, calling it counterproductive.
He revealed that foreign investors who had previously shown interest in the state’s non-oil sectors are now withdrawing and shifting their focus to Lagos due to the absence of a legitimate government in Rivers.
Ugwu-Ojo recounted a visit from an international investor who had been considering investments in Rivers, Lagos, and Abuja.
After meetings with Rivers State officials, the investor had been confident about investing in the state.
However, following the abrupt dissolution of the government, all plans for Rivers were abandoned in favour of Lagos.
According to SESSPN, this situation is harmful to the state’s economy. Rivers had been working to attract private sector investments to reduce its reliance on oil and gas.
Now, with the uncertainty caused by emergency rule, serious investors are reluctant to engage with a government that lacks constitutional legitimacy.
The group warned that if the situation is not reversed, Rivers could lose billions in foreign direct investment, just as it did during the era of militancy when businesses left and never returned.
The political crisis is also threatening a major development initiative, the Port Harcourt to Maiduguri Economic Corridor.
This project was designed to enhance trade and industrialisation across multiple regions and position Rivers State as a key economic hub. However, with investors being driven away, the project’s future is now in jeopardy.
SESSPN is urging the federal government to take immediate action to prevent lasting economic damage.
They have called on the presidency and the National Assembly to reinstate Rivers’ elected leaders and restore democratic governance, arguing that the people of Rivers should not suffer due to political conflicts among a few politicians.
The group stressed that any political crisis in Rivers should be resolved peacefully without undermining democracy.
They also pointed out that stability is essential for investment, and the current situation is sending the wrong message to both local and international stakeholders.
