Igalii: “We are more than oil and gas” as PANDEF proposes capital-market vehicle to mobilise long-term funding for region
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Thank you for reading this post, don't forget to subscribe!The Pan Niger Delta Forum (PANDEF) has unveiled plans for the establishment of a Niger Delta Infrastructure and Development Fund (NDIDF), a proposed professionally governed, capital-market-anchored financing vehicle designed to mobilise long-term domestic and international capital for infrastructure and economic development across the region.
National Chairman of PANDEF, Ambassador Dr. Godknows Boladei Igali, OON, disclosed the initiative while speaking at the Niger Delta Investment Summit in Port Harcourt, Rivers State, on Monday, September 14, 2026.
Igali said the initiative represents a deliberate shift from continued lamentation over the region’s developmental challenges towards practical investment, productive engagement and wealth creation.
He said the Niger Delta possesses enormous opportunities beyond crude oil, particularly in agriculture, fisheries, aquaculture, tourism, maritime activities, manufacturing, energy and technology, but acknowledged that these potentials have not been sufficiently harnessed to create lasting prosperity for the people.
From Lamentation to Deliberate Action
According to the PANDEF chairman, existing statutory allocations, derivation-based fiscal transfers and intervention programmes have contributed to the region’s development but have not delivered the scale of transformation required.
He argued that the region now needs innovative mechanisms capable of mobilising additional capital and financing bankable projects.
“Rather than going into a pity party and embarking on another journey of complaints, what is needed at this time is action—action that is strategic, intentional, disciplined and focused.”
It was against this background, he explained, that PANDEF under his leadership conceived the NDIDF.
How the NDIDF Will Work
Igali explained that the proposed fund would operate as a blended-finance platform, bringing together resources from Niger Delta residents, multinational partners, diaspora investors and the capital market.
The resources would be deployed into a pipeline of bankable and transformational projects selected through a transparent, professional and properly validated process.
He stressed that the proposed fund would not replace existing development institutions, but would complement them by aggregating capital, attracting private-sector investment and accelerating project delivery.
“The NDIDF is not envisaged as a replacement for existing institutions. Rather, it is designed as a complementary capital-aggregation and project-delivery vehicle that can crowd in private capital and accelerate development.”
The initiative, he added, would be structured to ensure that funds raised are responsibly invested, traceable and directed towards projects capable of creating enduring value for the region.
PANDEF: No White-Elephant Project
Addressing concerns that the initiative could become another development scheme without sustainable implementation, Igali was emphatic that the proposed fund would be professionally structured.
“Let me be very clear that this is not going to be a white-elephant project.”
He disclosed that PANDEF had spent the preceding year consulting extensively with private-sector stakeholders and members of the Niger Delta diaspora, adding that the response had been encouraging.
The proposal has also been presented to the South-South Governors’ Forum, while further consultations with relevant stakeholders are expected to continue. Igali also acknowledged the support of the Director-General and Chief Executive Officer of the Securities and Exchange Commission, Nigeria, Dr. Emomotimi Agama, for the initiative and efforts to deepen the country’s capital market.
Professional and Independent Governance
The PANDEF chairman said the fund would be constituted through an appropriate trust deed and other necessary legal instruments.
Its governance structure, according to him, is expected to include representatives of state governments, leading private-sector operators, professional fund managers and other relevant stakeholders.
He said the proposed Board of Trustees would be appointed on a non-partisan basis, with emphasis on credibility, professionalism and independence.
Fund managers, he added, would be selected based on “competence, integrity, experience and proven capacity to manage capital responsibly.”
The proposed fund is also expected to maintain close relationships with existing institutions, including the Niger Delta Development Commission (NDDC), Niger Delta chambers of commerce and industry, BRACED-related institutions, established companies and other strategic partners.
Private Sector to Lead Investment
Igali clarified that although PANDEF is promoting the initiative, its role would remain strategic and facilitative rather than operational.
“The private sector will play the leading role in the investment and commercial aspects of the initiative.”
Next Steps
PANDEF plans to organise a high-level dinner before the end of 2026 in Lagos, Port Harcourt or Abuja, where the proposal will be presented to selected stakeholders and prospective partners.
The engagement is expected to lead to the establishment of an advisory committee comprising credible professionals and representatives of relevant stakeholder groups.
Following the completion of the necessary legal instruments and preparatory arrangements, the fund is expected to be formally established.
“We Are More Than Oil and Gas”
Igali used the summit to call for a new culture of savings, investment and long-term planning in the Niger Delta.
He urged governments, the private sector, traditional institutions, development partners, the diaspora and citizens of the region to contribute to the development effort.
“We are more than oil and gas.”
He further called for the region’s wealth to be converted into productive assets and institutions capable of creating value for future generations.
“The wealth of the Niger Delta must not merely be consumed today; it must be converted into productive assets, institutions and opportunities that will continue to create value for generations to come.”
In his concluding remarks, the PANDEF chairman described the NDIDF as more than the creation of another financial vehicle, saying it should help establish “a new culture of investment, partnership and long-term thinking in the Niger Delta.”
He summarised the vision in three phrases:
“Let us move from dependence to investment; from consumption to production; and from the exploitation of resources to the creation of lasting wealth.”
The proposed NDIDF therefore marks PANDEF’s stated effort to broaden the Niger Delta’s economic base, attract long-term capital and transform the region’s resource endowment into sustainable investment, employment and prosperity.
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