..as investors sign deals to doing business in state

From Abel Leonard, Lafia

In a resounding endorsement of Nasarawa State’s commitment to fostering a conducive business environment, President Ahmed Bola Tinubu, represented by Dr. Doris Uzoka-Anite, Minister of Industry, Trade, and Investment, lauded the state’s strides in the 2nd Nasarawa Investment Summit.

President Tinubu at the 2nd Nasarawa investment Summit 2024, held at the Alyu Akwe Banquet Hall government House Lafia emphasized the need for implementing policies and programs conducive to business growth and highlighted the significance of infrastructure development, particularly in sectors like agriculture, mining, and energy.

Tinubu said Nasarawa State marked a significant milestone with the inauguration of a 4,000-ton lithium processing plant, signaling its dedication to providing an enabling environment for investors.

President Tinubu urged other states to emulate Nasarawa’s example by intensifying efforts to attract investors, emphasizing the pivotal role such initiatives play in showcasing investment opportunities across various sectors.

Acknowledging Nigeria’s alignment with Nasarawa State’s development agenda, particularly in preventing the export of raw materials without value addition, President Tinubu emphasized the importance of sustainable development.

“With a focus on utilizing natural resources like lithium, the federal government pledged to develop more lithium plants in states with deposits while ensuring sustainable exploitation of resources.”

Furthermore, the federal government reiterated its commitment to supporting the sustainable development of the mining sector to attract both local and foreign investment.

President Tinubu highlighted the government’s efforts to empower local manufacturers and capitalize on opportunities presented by the African Free Trade Agreement.

To provide a robust framework for investment, the Federal Ministry of Trade and Investment announced plans to develop and launch the first-ever investment policy from 2023 to 2027. Dr. Uzoka-Anite noted that this policy, approved by the Federal Executive Council, aims to facilitate macroeconomic stability and provide a conducive environment for investment.

The federal government has expressed its intention to ensure that all states unlock their potential across various sectors, particularly agriculture and solid minerals. Tinubu.

President Tinubu congratulated Governor Engr Abdullahi Sule for his leadership and urged continued efforts to attract investors to Nasarawa State through initiatives like the investment summit.

In his address, Engr. Abdullahi A. Sule, Executive Governor of Nasarawa State extended a warm welcome to President Tinubu and distinguished guests, including Dr. Adesina Akinwumi, CON, President of the African Development Bank. Expressing gratitude for their presence, he emphasized the significance of their contributions in shaping the state’s economic landscape.

Related News

Highlighting the success of previous summits, Governor Sule noted the positive outcomes, citing the influx of investors and the establishment of notable ventures such as the Avatar New Energy Materials Company Limited and the ASGARD Mining and Processing Plant.

The Governor also hailed the discovery of the Ebenyi-A Oil Well in Obi Local Government Area, emphasizing its potential to bolster the state’s economy and elevate its status among oil-producing states. He urged investors to seize the opportunity for investment in the oil and gas sector.

Under the theme “The Industrial Renaissance,” this year’s summit aimed to showcase Nasarawa State’s potential across various sectors, including industrial, agricultural, and mining. Governor Sule reaffirmed the state’s commitment to sustainable wealth creation and economic prosperity through strategic initiatives.

Governor Sule underscored the significance of Nasarawa’s Economic Development Strategy (NEDS) in driving economic growth, job creation, and human capacity development. He expressed confidence in the summit’s ability to catalyze industrialization and position Nasarawa as a leading economic champion.

Governor Sule thanked President Tinubu for his dedication to Nigeria’s economic advancement and urged continued support from development partners. With a resolute declaration that “Nasarawa means business,” he wished attendees a productive and successful summit.

In his welcome address, Mr. Ibrahim Abdullahi, Director General of NASIDA, heralded the commencement of the eagerly anticipated event themed “The Industrial Renaissance.” Promising to be a groundbreaking gathering, the summit aims to spotlight Nasarawa State’s abundant natural resources and potential, with the goal of attracting foreign direct investments (FDIs) from across the globe.

Daily sun Reports that Nasarawa State, as the second-largest state in Nigeria’s North Central region, boasts a strategic position for economic growth. With an extensive land area of 26,875.59 square kilometers and a population nearing 2.5 million, the state is endowed with a rich variety of natural resources, including limestone, iron ore, crude oil, natural gas, gold, and gemstones.

Mr Ibrahim said the summit serves as a pivotal platform for investors, policymakers, and stakeholders to converge and delve into opportunities for economic advancement.

He added that the summit will be Featuring a lineup of seasoned speakers and robust discussions, the event also highlights partnerships in oil and gas exploration, positioning Nasarawa State as a key player in Nigeria’s oil production landscape.

Mr Ibrahim further stated that the Day two of the summit will focuse on an Energy Business Roundtable, centered around discussions on the state’s oil and gas potential and the launch of the Nasarawa State Gas Strategy.

Additionally, a deal room is established to present bankable projects and investment opportunities aligned with both the state’s and the nation’s economic objectives. He added.

He said President Bola Tinubu, represented by Senate President Senator Godswill Akpabio, commissioned the plant, underscoring its significance in driving economic growth and development in Nasarawa State.

“With meticulous planning and dedicated support, the state government ensures the success of the event through infrastructure upgrades, security arrangements, and logistical support.”

He said the summit’s anticipated outcomes include the fostering of enhanced investment opportunities, strengthened public-private partnerships, infrastructure development, and knowledge exchange, propelling Nasarawa State to its rightful place as a leading economic powerhouse in Nigeria