The Vice President, Yemi Osinbajo said, before the Russian-Ukraine war, Nigeria’s Government was importing $670 million worth of consumable goods from the warring countries to Nigeria.
Osinbajo made this known at the 2-day Nasarawa Investment Summit, 2022, held Wednesday at the Aliyu Akwe Doma Banquet Hall, Government House in Lafia.
The summit tagged; Daimond in the Rough: the making of a new Investments frontier, brought together world class business leaders and investors to the state, including the Africa business magnet, Aliko Dangote, Former CBN governor and Emir of Kano, Sanusi Lamido Sanusi, former Ghanaian President, John Dramnani Mahama, Edo state governor, Godwin Obasaki among others.
Osinbajo said “with the importation of maize and other products from Ukraine and Russia, we import something in the order of about $670 million worth of goods from these countries.
“Now obviously, that is becoming almost impossible. So I think there is a major advantage here, considering the state nearness to Abuja, which can enable us produce what we consume.”
Osinbajo then called on the Nasarawa State Government to involve deliberate collaboration with the federal government to bridge the gaps in the agriculture and mining sectors for sustainability.
He added, in order to harness the mineral deposits in the state, the development of the sector must be seen as a national project, and this can be possible with the enforcement of regulations with the Ministry of Mines and Steel Development.
He added that, the development of the a sustainable plan will ensure all mining activities are monitored, in order to reap the benefits of the available mineral resources in the state.
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He noted, the state itself cannot get that kind of opportunities without the support of the federal government and the Federal capital Administration to be able to create that extended Abuja so that the state can take the benefits of FCT own Investment
He said, Nasarawa state must explore profitable areas of collaboration with the federal government to be able to bridge these gaps.
The Vice President noted that the state has large mineral deposits which must be properly harnessed to boost its economy.
“The range of available minerals in Nasarawa State is quite impressive. The state has mineral deposits such as coal, clay, zinc, stones, silica, gravel, limestone, marbles, tantalites, granites among others.
“That is why the state is described as the Home of Solid Minerals but there is a long way to go, especially with controlling illegal mining.
“The effort required must involve a deliberate collaboration with the Federal Government with the state working closely for the enforcement of the regulations with the Ministry of Mines and Steel.
“Apart from mineral resources, the state also has potentials in agriculture and investments. Nasarawa is already a leading producer of sesame seeds in the country, given the vast arable land and investments that are being made in sugar, soyabeans and rice.
“I expect that the state will soon become a leading producer of other crops like cassava which all together can join into national agro processing hub.”
He then commended Governor Abdullahi Sule for the giant strides his administration had recorded, inspite of the challenges of the COVID-19 pandemic and called for its sustenance.
Speaking on “Building for the African Continent: Lessons from the Ghanaian Economy,” Former President of Ghana, John Mahama stressed the need for the expansion of infrastructure in the areas of transport, energy, water, Information and Communication Technology (ICT), as well as education and health, in order to improve the economy of the state and the country at large.
According to him, Ghana under his administration invested in infrastructural development which brought about an expansion in job opportunities and social amenities in Ghana.
The former president called on the state to prioritise capital investments rather than consumption and create jobs, boost private sector participation, as well as revitalise old infrastructure for economy prosperity.
He said, Nasarawa, just like other states and countries in Africa, must exchange goods and services with others, especially in areas where active mining was taking place.
The President, Dangote Group of Companies, Alhaji Aliko Dangote, said Nasarawa has all the requirements that guarantees the attainment of the goals of the summit.
He said, Dangote Group was fully committed in partnering the state to continue to invest for the good of people of state.
He congratulated Governor Sule and his government for the initiative, saying that it will promote socio-economic activities and improve investments opportunities in the state.
Governor Abdullahi Sule earlier said, the summit was aimed at mapping out the future of the economic landscape, with renewed vigor, in order to further explore business opportunities that abound in the state.
“The theme of this Summit is “Diamond in the Rough: The Making of a New Investment Frontier” which was deliberately coined in line with the vision and philosophy of the present administration, geared towards driving the state economy for socio-economic development.
“The summit is, therefore, aimed at positioning Nasarawa State in the investment destination amongst the top three (3) most competitive states in Nigeria by 2023, in terms of accelerated growth, increased economic opportunities, social inclusion and improved quality of life of the citizenry.
“It is also aimed at promoting investment opportunities and fostering synergy, as well as partnerships between government institutions and private sector actors, who are critical players in the socio-economic development of society,” he said.
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