New investments coming into Nasarawa, says gov

Within Nigeria Apr 24, 2024

Nasarawa State Governor, Abdullahi Sule, has highlighted that the comprehensive economic reforms in the state are showing results, attracting a range of medium and long-term investments.

These efforts have led to a notable increase in investments across various sectors, creating job opportunities for residents.

The governor said this at press briefing to unveil the Nasarawa Investment Summit 2024 themed, The Industrial Renaissance on Tuesday in Abuja.

The summit which aims to provide a platform for world-class business leaders and captains of industry to brainstorm on how to achieve the states vision to become Nigerias top investment hub is scheduled to hold May 15 and 16.

This was as he asserted that the state has undertaken definite measures to seize the opportunity presented by the high demand for lithium and gas, stressing that the summit will seek to maximise foreign direct investment into the mining and energy sector.

Abdullahi disclosed that the government, in talks with investors from Russia, Japan, and China, was poised to establish a 4,000 metric tonnes lithium processing plant next month.

He said, The Industrial Renaissance theme encapsulates the vision of Nasarawa State to harness its abundant natural resources, strategic location, and skilled workforce to foster a renaissance in industrial activity. It reflects the states determination to embrace innovation, adopt best practices, and invest in critical infrastructure to catalyse the growth of key sectors such as manufacturing, agriculture, and mining.

So what is the benchmark for Foreign Direct Investment? I dont know if we want to set any but if we can have all the FDI in the world coming into the state. I will welcome it. In fact, I dont want to set a benchmark and say what I expect but another thing I am looking at is that all these foreign direct investments should be really for medium to long-term investment and not about any amount.

They should not be quick fixes where somebody is coming today, putting in money like hes buying shares and selling it tomorrow, because we dont have those kinds of investments in Nasarawa State. So they are investments for the medium to long term and that is the benchmark we have but on the amount, we dont have a specific amount.

The governor further pledged his commitment to usher the state into a new era of industrial growth and prosperity, stressing that his administration will shortchange its citizens in signing public-private agreements.

According to him, the state aims to create and expand on existing pathways for leveraging the immense industrial, agricultural and mining potential of the state for inclusive and sustainable wealth creation.

The governor said this would be achieved through immense industrial, agricultural and mining revolutions to harness its abundant natural resources and foster a renaissance in industrial activity.

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