Nasarawa Will Attract New Investments, Says Gov

The Nasarawa State Governor, Abdullahi Sule, has disclosed that a comprehensive economic reforms being implemented in the state have begun to yield tangible results, attracting a diverse array of medium and long-term investments into the state.

This was disclosed by the governor at press briefing to unveil the Nasarawa Investment Summit 2024 themed, “The Industrial Renaissance” on Tuesday in Abuja.

The summit seeks to ensure a platform for world-class business leaders and captains of industry to brainstorm on how to achieve the state’s vision to become Nigeria’s top investment hub is scheduled to hold May 15 and 16.

He noted 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.

According to Abdullahi, “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 state’s 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 don’t 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 don’t 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 he’s buying shares and selling it tomorrow, because we don’t 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 don’t have a specific amount.”

Also, the governor expressed 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.

He disclosed that the state aim is 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.

While speaking about the summit, the governor said the event signifies a bold commitment to revitalizing and modernizing the state’s economic landscape, positioning it as a dynamic hub for industry, commerce, and innovation. The theme underscores the state government’s recognition of the pivotal role that industrialization plays in driving economic development, creating employment opportunities, and improving the quality of life for its citizens.

He said, “At the core of the Nasarawa Investment Summit, 2024 is the emphasis on regional collaboration and infrastructure development for the state’s industrialization drive. In line with this, the summit will feature a series of meticulously curated sessions to interrogate the most pressing issues relevant to Nasarawa State’s economic development, as well as a Deal Room where investment grade and bankable projects at different development phases in their lifecycle will be showcased for potential investments."

Earlier in his address, the Managing Director of the Nasarawa State Investment Development Agency, Ibrahim Abdullahi, noted that the bi-annual event was instituted to showcase the investment opportunities in the state.