The Rivers State Executive Council, under the leadership of Governor Siminalayi Fubara, has granted approval for four draft bills aimed at bolstering the state government’s efforts in urban renewal and economic advancement.
The drafts include the New Towns Development Authority Bill, the Rivers Youth Entrepreneurship Bill, the Rivers State Investment Promotion Bill, and the Rivers State Power Sector Regulatory Commission Bill.
Among these, three were proposed by the Ministry of Justice, while one was submitted by the Ministry of Power.
During a joint press briefing after the fourth Executive Council Meeting held on Friday, Professor Zacchause Adangor (SAN), the Commissioner for Justice and Attorney General of the State, explained that the New Towns Development Authority draft aims to end the one-city status of Rivers State by establishing a structured process for creating new cities while retaining the existing ones.
He clarified that the Rivers State Youth Entrepreneurship draft seeks to establish a dedicated trust fund to support youth entrepreneurship, thereby mitigating youth unrest.
Professor Adangor mentioned that the third proposal from the Ministry, which is the Rivers State Investment Promotion draft, is designed to set up an agency responsible for promoting investments within the state.
Meanwhile, Henry Ogiri, the Commissioner for Power in Rivers State, explained that the Rivers State Power Sector Regulatory Commission aims to facilitate private sector-driven investments in the power market.
He emphasized that with its rich natural resources, Rivers State is well-positioned to attract investors in the sector.
The Commissioner is optimistic that once the draft is deliberated and approved by the state assembly, it will bolster the state’s revenue, enhance electricity supply, and consequently promote business growth.
These four draft bills are anticipated to be forwarded to the Rivers State House of Assembly for the legislative process.