16 November 2009
Abuja — Rivers State Government has unveiled plans to grant three to five years tax holiday to would -be investors in the oil-rich state.The State Commissioner for Commerce and Industry Mr.Ogbonna Nwoke said this at the weekend at the Lagos International Trade Fair and Exhibition. He said the development is part of the current administration to woo investors and boost industrialisation in the state. He also said the Rivers state is now investment friendly following the recent amnesty deal stuck between the Federal government and the militant groups.
The Commissioner said the administration is working round the clock to ensure that the state generates 500MW of electricity by next year through its gas turbines.
According to him, the administration is collaborating with the Power Holding Company of Nigeria to step down the energy from its gas turbines. He said the current administration regard investors as partners in progress for the development of Rivers State, adding that the oil-rich state would continually evolve policy that would make it investment-haven.
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