The South-South, South-East Professionals of Nigeria (SESSPN) have strongly opposed the suspension of democratic institutions in Rivers State following President Bola Tinubu’s declaration of emergency rule.
The group has demanded the immediate reinstatement of Governor Siminalayi Fubara, his deputy Professor Ngozi Odu, and the state’s elected lawmakers, warning that the political turmoil is discouraging foreign investment.
Last Tuesday, President Tinubu imposed emergency rule in Rivers State, citing ongoing political instability.
However, in a statement released on Thursday, SESSPN’s Chairman of the Board of Trustees, Mr. Emeka Ugwu-Ojo, criticized the move as counterproductive.
He noted that foreign investors previously interested in Rivers’ non-oil sectors are now withdrawing their plans and shifting focus to Lagos due to the absence of a constitutionally recognized government.
Ugwu-Ojo shared an account of a recent visit by an international investor who had shown interest in Rivers, Lagos, and Abuja. Before leaving Nigeria, the investor had expressed confidence in Rivers’ business environment after discussions with government officials. However, following the sudden dissolution of the state government, all investment plans for Rivers were abandoned, with Lagos now becoming the primary focus.
SESSPN warned that this development could be disastrous for Rivers’ economy, as the state had been working to attract private sector investments beyond the oil and gas sector. With the uncertainty caused by emergency rule, serious investors are unwilling to engage with an administration that lacks constitutional legitimacy.
The group cautioned that if the situation remains unresolved, Rivers could lose billions in foreign direct investment—similar to how businesses fled during the militancy era and never returned.
The ongoing crisis also threatens the Port Harcourt to Maiduguri Economic Corridor, a key development project aimed at boosting trade and industrialization across multiple regions, with Rivers State as a central hub. With investors now pulling out, the corridor’s economic vision is at serious risk.
SESSPN emphasized that the federal government must act swiftly to prevent lasting economic damage.
The group called on the presidency and the National Assembly to reinstate Rivers’ elected leaders and restore democratic governance, insisting that the state’s citizens should not suffer due to political disputes among a few individuals.
With growing public concern, SESSPN stressed that any political crisis in Rivers should be resolved peacefully, without undermining democracy.
They reiterated that investors prioritize stability, and the current situation is sending the wrong message to both local and international stakeholders.