Nassawara State Summit to Target FDIs, Says over $500m Investment Attracted in 3 Years

Gilbert Ekugbe

The Governor, Nassarawa State, Abdullahi Sule, has stated that its inaugural Nassarawa Investment Summit, expected to hold on the 11^th and 12^th of May, 2022, is expected to attract local and Foreign Direct Investments (FDIs) into the State as well as solidify the nation’s position as a key investment destination in Nigeria.

The Summit themed, “Diamond in the Rough; The Making of a New Investment Frontier,” would 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.

Meanwhile, the Governor stated that its ease of doing business and investment promotion efforts have seen the State attract over $500 million investments into key sectors in the State within the last three years.

At a press conference to herald the forthcoming Summit, he said the Summit would also feature Ghana’s 13^th President, John Dramani Mahama to deliver the summit keynote address and would be attended by Captains of industry, renowned members of the business community, investors, International and domestic partners, diplomatic corp and the political class.

According to him, the State has been very deliberate about stimulating its economy, building its human capacities, and creating wealth and jobs opportunities. He added that on the basis of the Nasarawa Economic Development Strategy (NEDS) (2019-2023), a testament to its collective commitment to implementing a practicable Economic Transformation Strategy for the State, 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 added 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.

“For instance, through reforms, we have significantly increased our Internally Generated Revenue by 49 per cent in 2020 (a COVID-19 tainted year) and already on track to surpass that in 2022. An independent evaluation platform (Kingmakers) has also shown that Nasarawa has moved ranks on Standard of Living from 24^th position in the country in 2016, to 12^th position in 2020,” he averred.

He said the State’s objective is to challenge the old ways of addressing its economic challenges with new innovative ideas leveraging its geography, people and new business climate.

“We will have six high level plenaries, an MSME challenge to help stimulate small businesses involvement in our economic activities and a deal room showcasing bankable investment opportunities in our State, he said.

“On that day, we will demonstrate our enormous potential and investment opportunities in two of our most well-known industries: agriculture and mining,” he added.