Governor Abdullahi Sule of Nasarawa State has signed two bills into law that would ensure the state and the investors get maximum benefit and security from their investments.
The two new laws include Nasarawa State Investment Development Agency Bill 2020 and the Nasarawa State Mortgage and Foreclosure bill.
The event was witnessed by members of the State Executive Council and the legislature led by the Speaker of the Nasarawa State House of Assembly, Ibrahim Balarabe-Abdullahi, at the ceremony held in Government House in Lafia.
Governor Sule who described the two new laws as the foundation for the take-off of the state’s friendly business environment said, without the laws, it will be difficult to attract lots of investors into the state.
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“Without these laws, it would be very difficult to be able to invite a lot of investors, who are serious about investment, who understands what investment is, who understands what it takes for resolutions of all kinds of issues that come as a result of the investment,” he added.
According to the Governor, the Nasarawa State Investment Development Agency will facilitate the establishment of a one-stop-shop for all kinds of investments, where the government will assist investors in realizing their vision.
“Once you are there, they will do the run around for you. And you will tell them what type of investment it is, registration of your company, understanding your taxes, what kind of benefits you will have, what kind of wavers that are going to be available to you.
“What does it take for you to acquire land, what does it take to get your documentations, what is there to get your C of O,” he explained. He further that, the mortgage and foreclosure law, on the other hand, would promote liquidity in the state.
“For housing, it’s going to fast track the process of creating all the legal issues on mortgages and the issue of timely resolution of all kinds of disputes that are likely to happen, Sule said.
The Governor then thanked the MD of the Nigeria Mortgage Refinancing Company and his team, for coming up with the blueprint that led to the signing of the two bills into law.
On his part, the MD NMRC, Kehinde Ogundimu, also described the event as a milestone not only for Nasarawa State but the country as a whole. He added that the signing of the two bills into law laid a solid foundation for investments and greater things that will come to the state.
“There is a direct correlation between the legal framework and the number of investments you have in a state.”Now that we have the legal framework, we will not relent in attracting investment to Nasarawa State,” Ogundimu said.
In a remark, the Special Adviser to the Governor on Investment and Economic Planning, Ibrahim Abdullahi, said industrialization and investment can happen in a sustainable way only through the creation of enabling legal and regulatory frameworks.
“This is the promise of Engineer Abdullahi Sule as enshrined in the Nasarawa Economic Development Strategy (NEDS), to create a private sector-led and competitive economy for our state,” he said.
