Delta Signs MoU With UK-based Entities On Blue Carbon Partnership

Magdalene Ukuedojor
May, Wed, 2025

Metro

Delta signs MoU with UK-based entities on blue carbon partnership — Oborevwori

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By Ifeanyi Olannye

Gov. Sheriff Oborevwori of Delta has disclosed that the state government has signed a Memorandum of Understanding with Serendib Capital and Eight Versa, United Kingdom (UK)-based entities to implement a Blue Carbon Partnership.

The governor disclosed this in Asaba on Wednesday while addressing the State House of Assembly on the State of the State in commemoration of his second year in office.

According to him, the project focuses on the conservation of over 270 hectares of mangroves and seagrass, critical to the state’s ecosystem and climate resilience.

He said the project has been registered with Verra, the world’s largest carbon registry, adding that the project would generate about 4,500 direct jobs and numerous indirect job opportunities.

“It will provide economic benefits through carbon credit sales for the state and coastal communities, promoting regenerative agriculture, and biochar production.

“It will serve as a natural shield against coastal erosion and flooding as well as enhancing the local environment for the benefit of residents,” he said.

Oborevwori said the innovative partnership would place Delta at the forefront of sustainable development and climate action in Nigeria.

The governor also said that his administration would continue to collaborate with the Federal Government to attract impactful development initiatives to the state.

He said, “to ensure seamless collaborations, I have designated specific officers to interface with relevant federal government agencies and actively facilitate the attraction of all applicable federal government initiatives to Delta.

“I am pleased to inform you that Delta State has been listed among the beneficiaries of the second phase of the Special Agro-Industrial Processing Zone (SAPZ) initiative of the Federal Government and the African Development Bank.

“Additionally, we have indicated our interest in participating in the Federal Livestock Development Programme, a transformative programme aimed at modernising livestock production from cattle and poultry to piggery and rabbitry, while integrating value-chain processing and marketing.

“This comprehensive unit of economic programmes and fiscal interventions reflects our steadfast commitment to building a stronger, more inclusive, and resilient Delta State economy.”

He said that the state government entered into Public Private Partnership (PPP) initiatives in agriculture to boost production and food security.

The governor said that the initiative would support dry season farming, to cultivate crops like cassava, maize, vegetables, and greenhouse cultivation.

“I have approved an initial ₦1.165 billion to kick-start the pilot programmes in Aviara in Isoko South LGA and Umutu in Ukwuani LGA.

“Additional funding will follow as the activities of the initiative scale up. This move is essential to ensuring all year-round agricultural productivity, enhancing food security, and supporting livelihoods in our rural communities.”

He recalled that his administration had earlier in the year approved the Delta State Government and Bank of Industry (DTSG/BOI) ₦1 billion Managed Fund Scheme for Micro, Small and Medium Enterprises (MSMEs) in the state.

“This initiative is a revolving loan facility designed to improve access to affordable credit for MSMEs across the state.

“Beneficiaries will access loans with tenure ranging from one to five years, including a moratorium of up to one year, at an interest rate of nine per cent per annum.

“This is a deliberate intervention to stimulate local enterprise, generate jobs, and drive inclusive economic growth,” Oborevwori said.

He said his administration revived the Kwale and Koko Free Trade Zone which was established by the previous administration to serve as a key investment anchor.

“Currently, six companies are operating within the zone, with more expressing interest.

“To reaffirm our commitment, I have approved the payment for the renewal of the zone’s annual licensing fee and associated charges to the Central Bank of Nigeria.

“This ensures our compliance with regulatory obligations and restores critical privileges to current tenants while enhancing the zone’s appeal to potential investors,” he said. (NAN)(www.nannews.ng)

Edited by Benson Iziama

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