Business consultant and Managing Director of Flamingo Energy Ltd in Rivers State, Dr. Maxwell Atago has expressed dismay over the negative impacts the imposition of state of emergency will impose on the economy of Rivers State.
Atago who spoke to newsmen recently in Port Harcourt, on the political situation in Rivers State stated that the imposition of emergency rule will scare investments and derail economic activities in the state.
According to him, the action of government to impose a state of emergency will negatively impact on private investments in the state, adding that the situation was that which no authority should never have contemplated for the State that was already grappling with issues of land grabbing and internal insecurity.
“When a State of emergency is declared in an area, people and businesses will be scared to invest, considering that the economic life of the state was already crippling due to issues of land grabbing, insecurity coupled with the imposition of the state of emergency on the state. It will not go well with the economic and social welbeing of the state,” Dr. Atago declared.
He described the declaration of emergency rule on the state by the President Ahmed Tinubu administration as unnecessary and avoidable, stressing that the political wranglings in the state was such that could have been resolved politically.
The business mongul blamed President Tinubu and elders of the State for not doing enough in settling the political rift in the state between suspended Governor Siminalayi Fubara and the Ex-Governor and Federal Capital Territory (FCT) Minister Nyesom Wike, pointing out that the President would have taken other options to resolve the problems between the political contenders in the State.
He lamented that the impression around the country was that Rivers State was burning and a no go area for visitors and businesses and added that no investor will attempt to bring his investments into the State despite its leading position as the economic hub of the nation.
“The state of emergency in the state has created tensions among the residents. With the different interpretations on the emergency order, people have become scared and circumspect with unnecessary fears. Rivers State plays a major role in the economy of the country and allowing the situation to fester will be bad and dangerous for the economic and social growth of the state and this cannot help anyone,” he stated.
Dr. Atago, while appealing to residents of the state to remain calm in the face of prevailing circumstances also called on President Tinubu to rethink and reconsider the restoration of civil order in the State, contending that the President actions on the political crises in the State may do greater damage to his second term political ambition, considering the ethnic colourations the matter has taken in the state.
