As the inaugural edition of Nasarawa State’s investment summit holds this week, the state is betting on opportunities it says are widely spread across five strategic investment clusters, including agriculture, oil and gas, solid minerals, agro-allied industry, information communication technology and logistics as well as the service sector.
It was noted in a briefing document that its proximity to Abuja, the capital city of Nigeria, is a real estate opportunity, with Karu and Keffi said to have the potential to tap from the economic and social opportunities in neighbouring Abuja.
The state says these locations can provide adequate and affordable housing options for low and middle-income earners working in the Federal Capital Territory (FCT).
The two-day summit holding on May 11 and 12, 2022 in Lafia, the state capital, according to briefs on it, will “serve as a platform to present credible and bankable investment opportunities that are market-ready for investors engagement”.
The state government also says the summit will foster closer collaboration and partnership between the private sector and the government in building a stronger business environment in Nasarawa.
Speakers expected at the summit include John Dramani Maham, former president of Ghana; Yemi Osinbajo, vice-president of Nigeria; Muhammadu Sanusi Lamido, a former CBN governor; Aliko Dangote, president of Dangote Group; and Mansur Mukhtar, vice president, country operations, Islamic Development Bank.
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Nasarawa, the briefing documents say, is home to abundant minerals and natural resources; it is strategically located in the middle belt of Nigeria, and lies within the North Central geopolitical zone of the Country. With a total land area of 26,875.59 square kilometres and a population of about 2.5 million people, it shares a boundary with Kaduna State in the North, Plateau State in the East, Taraba and Benue states in the South while Kogi and the FCT flank it in the West.
The state prides itself as having an abundance of “fertile land, natural and human resources”. It also says it is primed to be an investment powerhouse and economic hub in Nigeria by virtue of its abundant solid mineral resources, strategic location, vast landmass, rich agricultural and tourism potential.
Among the abundant mineral resources presently said to be available in Nasarawa are limestone, iron ore, crude oil and natural gas, barite, gold, gypsum, kaolin, marble, and lead/zinc. These, the state says, present tremendous opportunities for investments in the solid mineral sector.
The state also says it is endowed with some gold deposits which occur in pegmatite-quartz veins within Precambrian basement rocks in Wamba. The Metasedimentary rocks in Toto, Udegbe, Gadabuke, Laminga, and Nasarawa also contain some gold deposits.
There are other varieties of gemstones including; aquamarine, emeralds, sapphire, ruby, topaz, tourmaline, zircon, and almandine. By creating concrete business partnerships, allowing both domestic and foreign investors to tap into investment opportunities in the state, these economic opportunities can be explored to realise sustainable economic growth for the State and its private sector partners, according to briefs on the forthcoming summit.
Nasarawa also has tourist attractions with an array of hills and rocks dotting its landscape. These included the Mada Hills and Rukubi Hills, both at Akwanga, to Ava and Eggon Hills, Efugogiri Hills and Mail Rumba Rock at Doma, to the Farin-Ruwa WaterFalls at Wamba, to Captain Maloney Hills at Keffi and then Numa rock at Akwanga.
Emphasising its hospitality and real estate potential, it was stated that the recently completed Karu Mega Bus Terminal can accommodate more than 900 buses and transport over 20,000 people daily. The proposed Abuja-Keffi rail line provides an appropriate transport option to move residents between Nasarawa State and Abuja daily.
Expected outcomes from the summit include building and enhancing private sector involvement in good governance and policy making, especially as it involves the delivery of the Nasarawa Economic Development Strategy, and also provide an inclusive platform and methodology that promotes the participation of all key stakeholders in its implementation. Also, form development partnerships with public and private sector players that will stimulate production and have a developmental impact across the state; identify impediments and obstacles to investments in Nasarawa State from the perspectives of governments, investors, international finance institutions, and businesses.
