Governor Abdullahi Sule has restated that Nasarawa State is indeed a diamond in the rough, adding that his administration is determined to make the state Nigeria’s top investment frontier.
Governor Sule noted this while speaking virtually to senior journalists in Lagos on Tuesday ahead of the forthcoming Nasarawa Investment Summit (NIS) 2022. He noted that Nasarawa State’s ease of doing business and investment promotion effort has seen it attract over $500million investments into key sectors in the State within the last three (3) years.
He further disclosed that the State has through reforms significantly increased Internally Generated Revenue (IGR) by 49percent in 2020 (a COVID-19 tainted year), adding that his administration is already on track to surpass that record in 2020.
To solidify Nasarawa State’s position as a key investment destination in Nigeria and by extension the west African region, the State is hosting the Inaugural Nasarawa Investment Summit in Lafia from May 11 to 12 2022. The Summit is themed “Diamond in the Rough; The Making of a New Investment Frontier”.
The Nasarawa State Government recognises the need for a robust private sector for economic development and revitalization, which is why the Governor Sule-led administration has built an effective Public-Private-Partnership (PPP) framework that allows for long-term private sector participation.
“This has aided in the establishment of a favourable and enabling environment for increasing private sector investment, which has resulted in the creation of jobs, revenue, and overall economic development in the state”, the governor said.
Read also: Gunmen attack kills at least 50 in Nigeria’s Plateau state
The chairman of Nasarawa State Investment and Economic Advisory Council, Konyinsola Ajayi (Professor), other members of the council and the Managing Director of Nasarawa State Investment Development Agency (NASIDA), Ibrahim Abdullahi and his team are setting the tone for the summit to ensure that the State achieves the goal of becoming a top investment destination.
Ghana’s 13th President, John Dramani Mahama will deliver the summit keynote address and will be attended by Captains of industry, renowned members of the business community, investors, International and domestic partners, diplomatic corp and the political class.
“As a State, we have been very deliberate about stimulating our economy, building our people’s human capacities, and creating wealth and jobs for them. This is the basis of the Nasarawa Economic Development Strategy (NEDS) (2019-2023), which is a testament to our collective commitment to implementing a practicable Economic Transformation Strategy for the State, as promised during our campaign.
“It is founded on a vision to sustain accelerated growth of the Nasarawa economy driven by the private sector and translating this to a clear improvement in citizens’ lives and the achievement of other key development outcomes”, he said.
“An independent evaluation platform (Kingmakers) has also shown that Nasarawa has moved ranks on Standard of Living from 24th position in the country in 2016, to 12th position in 2020”, the Governor said, while noting that the implementation of the NEDS is already reflecting in not just improved outcomes in key areas of the State, but also in terms of development impact.
“Our objective is to challenge the old ways of addressing our economic challenges with new innovative ideas leveraging our geography, people and new business climate. We will have six (6) high level plenaries, an Micro, Small and Medium Enterprises (MSME) challenge to help stimulate small businesses involvement in our economic activities and a Deal room showcasing bankable investment opportunities in our state.
“This is a unique summit in that it will bring together a diverse group of stakeholders, including leaders from a wide range of businesses, to discuss the state’s socioeconomic challenges and prospects over the next decade. On that day, we’ll demonstrate our enormous potential and investment opportunities in two of our most well-known industries: agriculture and mining,” Governor Sule noted.
“The Summit aims to position Nasarawa State as a top investment destination amongst the top three most competitive states in Nigeria by 2023 in terms of sustained accelerated growth, increased economic opportunities and prosperity, social inclusion, and improved quality of life of the citizenry. The Summit’s objective is hinged on promoting investment opportunities in the state as well as fostering synergies and partnerships between government institutions and private sector actors, who are critical players in the socioeconomic development of Nasarawa State,” said Abdullahi who is also the chairman of #NIS2022 Summit Planning Committee.
He noted that like a diamond in the rough, Nasarawa State has shown great promise over the years overcoming numerous roadblocks as it inches toward its vision of becoming Nigeria’s top investment destination. Nasarawa State is home to abundant natural resources and minerals; it is strategically located in the middle belt of Nigeria, and lies within the North Central geopolitical zone of the Country. The modern-day Nasarawa State was created in October 1996, out of the western half of Plateau State with its capital in Lafia. With a total land area of 26,875.59 square kilometers and a population of about 2.5 million people, Nasarawa State 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 Federal Capital Territory flank it in the West.
“Nasarawa is abundantly blessed with fertile land, natural resources, and human resources. It is primed to be an investment powerhouse and economic hub in Nigeria by virtue of its abundant solid mineral resources, strategic location, rich agricultural and tourism potential, and vast arable land. Amongst the abundant mineral resources presently available in Nasarawa State are limestone, iron ore, crude oil and natural gas, barite, gold, gypsum, kaolin, marble, and lead/zinc. These present tremendous opportunities for investments in the solid mineral sector,” Abdullahi said.
The State is also 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. Nasarawa state is blessed with other varieties of gemstones and the important ones in terms of quantity include; 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.
“Nasarawa State is also home to amazing tourist attractions with an array of hills and rocks dotting its landscape. Its beautiful hills, rocks and other natural edifices offer tourists unforgettable sight-seeing experiences. From the famous 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.
Further, Nasarawa State boasts of significant real estate opportunities due to its strategic location and proximity to Abuja, the capital city of Nigeria. Karu and Keffi have the potential to tap from the economic and social opportunities in neighbouring Abuja by becoming a city that can provide adequate and affordable housing options for low and middle-income earners working in Abuja. It offers them an amazing opportunity to live in Nasarawa State while working in Abuja. The recently completed Karu Mega Bus Terminal can accommodate more than 900 buses and 20,000 people daily, as well as the proposed Abuja-Keffi rail line provides an appropriate transportation option to move residents between Nasarawa State and Abuja daily.
Today, the Nasarawa State investment opportunities are widely spread across five strategic investment clusters which include; Oil and Gas, Solid Minerals, Agro-allied Industry, Information Technology & Logistics as well as the Service sector.
