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The South-South, South-East Professionals of Nigeria, SESSPN has strongly condemned the suspension of important democratic institutions in Rivers State subsequent to President Bola Tinubu’s proclamation of emergency.

The group has warned that the political situation is already discouraging foreign investment and has demanded the quick reinstatement of Governor Siminalayi Fubara, his deputy, Professor Ngozi Odu, and the state’s elected parliamentarians.

Citing continued political unrest, President Tinubu declared emergency in Rivers State on Tuesday.

However, Mr. Emeka Ugwu-Ojo, the Chairman Board of Trustees of SESSPN, condemned the action as ineffective in a statement issued on Thursday.

He disclosed that because Rivers lacks a recognized government, foreign investors who had earlier shown interest in the state’s non-oil sectors are now pulling out and concentrating only on Lagos.

An foreign investor who was interested in potential in Rivers, Lagos, and Abuja recently visited, according to Ugwu-Ojo. After meeting with government representatives, the investor had expressed confidence in the economic environment in Rivers State before to departing Nigeria.

However, Lagos is now the exclusive focus, and all investment plans for Rivers have been shelved due to the abrupt fall of the state government.

SESSPN contends that the state’s economy is in grave danger as a result of this circumstance. In an effort to expand beyond oil and gas, Rivers has been aggressively pursuing private sector assets.

No serious investor is now willing to work with a state administration that lacks constitutional legitimacy because of the uncertainty caused by the emergency rule.

The Port Harcourt to Maiduguri Economic Corridor, a significant development project, is also under danger due to the ongoing political unrest. Rivers State was to become a major hub for this ambitious project, which planned to increase trade and industry throughout the South-East, South-South, North-Central, and North-East regions.

But now that the crisis is deterring investment, the corridor’s economic future is in grave danger.

SESSPN emphasized that in order to avoid long-term economic harm, the federal government must move quickly.

The group called on the National Assembly and the president to restore democratic administration in the state and reinstate Rivers’ elected officials. They maintained that Rivers residents shouldn’t be penalized because of disagreements between a select group of lawmakers.

The professionals’ association emphasized that any political crisis in Rivers should be settled amicably—without jeopardizing the democratic process—in response to growing public anxiety.

According to the statement, they reaffirmed that stability is necessary for investors and that the current state of affairs is giving the wrong impression to stakeholders both domestically and abroad.

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