Vice-President, Prof Yemi Osibanjo, Thursday, said that the absence of business ethics and lack of zero tolerance for corruption among the states of the federation scares away reputable investors and stall growth in the local economies of the states. Prof Osinbajo, who was represented by his Deputy Chief of Staff, Mr. Ade Ipaye, stated this while declaring open the second Bayelsa State Investment and Economic Forum.

 

The forum with the theme “Unfolding Bayelsa State’s Industrial Future” was held at the Banquet Hall, Government House in Yenagoa. He said that corruption deters investment, stressing that it was only when government conducts its affairs with transparency, sincerity and openness that genuine investors would show commitment to invest. Osinbajo commended the Bayelsa State Government for hosting the second edition of the event, noting that it was a significant indicator of the governor’s commitment to the development of the state.

 

“The theme of the programme cannot be more apt both for the state and the entire country, since the industrial sector is the key engine of growth of any economy.” According to him, industrialization and investment promotion were issues at the heart of the nation’s economic viability, adding that all hands must be on deck to diversify the economy. He expressed the readiness of the Federal Government to assist the state government in the implementation of its industrialization programme as well as the preparedness of the Muhammadu Buhari administration to stabilization the local economy.

 

Earlier, Governor Seriake Dickson of Bayelsa State, called on the Federal Government, and investors to partner his administration in the development of investment opportunities in the state to drive its industrialization effort.

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