10/08/2026
4Clans, Delta Government Partner to Transform Asaba Waterfront into NigerCity Bay
By Dr. Uche Nworah
Members of the organised private sector have reaffirmed their confidence in Delta State as an investment destination, with 4Clans Nigeria Limited, in partnership with the Delta State Government, spearheading plans to transform portions of the Asaba Waterfront into a major economic and urban development hub to be known as NigerCity Bay.
The project is being undertaken through NigerCity Development Company Limited, a Special Purpose Vehicle (SPV) incorporated by 4Clans Nigeria Limited in collaboration with the Delta State Government to develop the proposed mega smart city on the banks of the River Niger.
Speaking at the recently concluded Delta State Economic and Investment Summit 2026 in Asaba, Enugwu-Ukwu, Anambra State-born Ozonkpu Chief Theodore Omalu, a Director of 4Clans Nigeria Limited and NigerCity Development Company Limited, said the NigerCity Bay project was conceived to unlock the enormous economic and development potential of the Asaba Waterfront and the River Niger.
According to him, the project would involve the reclamation and development of underutilised riverfront wetlands into a modern, integrated smart city with residential, commercial, tourism, hospitality, logistics and other economic facilities.
“NigerCity Bay is about unlocking the enormous potential of the River Niger and the Asaba Waterfront. We are not simply reclaiming land; we are creating a new economic frontier for Delta State — one that will generate businesses, attract investment, create jobs and provide opportunities for people to live, work and do business.”
Chief Omalu said the project was a practical demonstration of the summit’s theme, “Harnessing Our Strengths, Unlocking Our Potentials for Accelerated Economic Development.”
He explained that the development would harness the strategic location of Asaba and its proximity to the River Niger to create new land and open up opportunities across several sectors of the economy.
“The River Niger is a tremendous economic asset. If properly harnessed, it can support a whole ecosystem of commerce, tourism, hospitality, logistics, residential development and other businesses. NigerCity Bay is our attempt to convert that potential into tangible economic value.”
The investor disclosed that a dredger had been operating at the project site for about two years, adding that the company had recently invested in an additional modern dredger to accelerate the reclamation and development process.
He described the latest investment as a demonstration of 4Clans Nigeria Limited’s confidence in Delta State, Asaba and the long-term prospects of the NigerCity Bay project.
“Our decision to bring in another modern dredger is a clear statement of confidence. We believe in Asaba, we believe in Delta State and we believe in the long-term viability of NigerCity Bay. This is not a short-term project; it is an investment in the future.”
Chief Omalu said that upon completion, NigerCity Bay would provide opportunities for residential communities, commercial activities, tourism, hospitality, logistics and other businesses, while creating employment and stimulating further investment.
He added that the company’s experience in land reclamation and urban development had provided the technical expertise and institutional confidence required to undertake the ambitious project.
The investor commended Governor Sheriff Oborevwori for his leadership and efforts to create an investment-friendly environment in Delta State. He also acknowledged the support of the Secretary to the State Government, the Chairman of the Delta State Economic Summit Planning Committee, Kingsley Emu, and other stakeholders in advancing the project.
Describing NigerCity Bay as a product of strong public-private partnership, Omalu stressed that sustainable economic development required collaboration among government, investors and host communities.
“Government cannot do everything, and the private sector cannot succeed in isolation. Government provides the enabling environment and policy direction; the private sector brings capital, expertise, innovation and institutional capacity, while host communities provide the local support and partnership that make projects sustainable.”
He therefore urged prospective investors to take a serious look at Delta State, describing the investment opportunities in the state as enormous.
“Delta State has the land, the people, the strategic location and enormous economic potential. What investors need is confidence that their investments will be supported by the right environment. We are seeing that confidence growing, and NigerCity Bay is one example of what is possible.”
It would be recalled that the Delta State Government has classified the broader development programme as the Asaba Waterfront Projects, comprising two major smart-city developments — NigerCity Bay and Asaba Waterfront City.
The projects are being implemented through two separate incorporated Special Purpose Vehicles. NigerCity Development Company Limited is responsible for the development of NigerCity Bay, while a separate SPV has been incorporated to execute the Asaba Waterfront City project.
The development is expected to significantly expand the economic potential of Asaba, attract further private-sector investment, create employment opportunities and position the city as a major destination for modern urban development, tourism, commerce and logistics.
Chief Omalu reaffirmed the commitment of 4Clans Nigeria Limited and its partners to continued investment, job creation, community partnership and contributing to the economic transformation of Delta State.
“NigerCity Bay demonstrates what can happen when government creates the right investment environment and the private sector responds with capital, expertise and perseverance. With the right partnership, we can transform underutilised assets into productive economic infrastructure and create opportunities that will benefit generations to come.”
About the Delta State Economic and Investment Summit
The Delta State Economic and Investment Summit 2026 was held from August 3 to 5, 2026, at The Dome Event Centre in Asaba under the theme, “Harnessing Our Strengths, Unlocking Our Potential.”
The summit attracted prominent national and international economic stakeholders, including Nigeria’s Vice President, Kashim Shettima; the Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala; Delta State Governor, Rt. Hon. Sheriff Oborevwori; Anambra State Governor, Prof. Charles Soludo; renowned scholar and public intellectual, Prof. Patrick Lumumba; the Ambassadors of Brazil and Malaysia; as well as international investors and other stakeholders.
The summit provided a platform for discussions on investment opportunities, economic development, infrastructure, private-sector participation and strategies for unlocking Delta State’s economic potential.
