Abdullahi Sule, the Nasarawa State Governor, has said the comprehensive economic reforms being implemented in the state have begun to yield tangible results and have attracted a wide range of medium and long-term investments in the state.

He said this development had stimulated a significant influx of investments in various sectors and creates jobs for indigenes people.

Sule said this during the press conference to mark the unveiling of the Nasarawa Investment Summit 2024 themed “The Industrial Renaissance” on Tuesday in Abuja.

The summit which aims to provide a platform for world-class business leaders and captains of industry to brainstorm on how to achieve the state’s vision of becoming Nigeria’s top investment hub will be taken on May 15 and 16.

This was as he asserted that the state has taken definitive measures to capitalized the opportunity presented by the high demand for lithium and gas, stressing that the summit will seek to maximise foreign direct investment in the mining and energy sector.

Sule disclosed that the government, in talks with investors from Russia, Japan, and China, was poised to establish a 4,000 metric tonnes lithium processing plant next month.

He said, “The Industrial Renaissance” theme encapsulates the vision of Nasarawa State to harness its abundant natural resources, strategic location, and skilled workforce to foster a renaissance in industrial activity. It reflects the state’s determination to embrace innovation, adopt best practices, and invest in critical infrastructure to catalyse the growth of key sectors such as manufacturing, agriculture, and mining.

“So what is the benchmark for Foreign Direct Investment? I don’t know if we want to set any but if we can have all the FDI in the world coming into the state. I will welcome it. In fact, I don’t want to set a benchmark and say what I expect but another thing I am looking at is that all these foreign direct investments should be really for medium to long-term investment and not about any amount.

“They should not be quick fixes where somebody is coming today, putting in money like he’s buying shares and selling it tomorrow, because we don’t have those kinds of investments in Nasarawa State. So they are investments for the medium to long term and that is the benchmark we have but on the amount, we don’t have a specific amount.”

The governor further pledged his commitment to usher the state into a new era of industrial growth and prosperity, stressing that his administration will fail its citizens in signing public-private agreements.

According to him, the state aims to create and expand on existing opportunities for leveraging the state immense industrial, agricultural and mining potential for inclusive and sustainable wealth creation.

The governor said this would be achieved through immense industrial, agricultural and mining revolutions to harness its abundant natural resources and foster a renaissance in industrial activity.

Speaking about the summit, the Governor stated that the event marks a bold commitment to revitalize and modernize the state’s economic landscape, positioning it as a dynamic hub for industry, commerce and innovation. The theme underlines the state government’s recognition of the critical role that industrialization plays in driving economic development, creating employment and improving the quality of life of its citizens.

“At the core of the Nasarawa Investment Summit, 2024 is the emphasis on regional collaboration and infrastructure development for the state’s industrialization drive. In line with this, the summit will feature a series of meticulously curated sessions to interrogate the most pressing issues relevant to Nasarawa State’s economic development, as well as a Deal Room where investment grade and bankable projects at different development phases in their lifecycle will be showcased for potential investments,” he noted.

Also speaking, Ibrahim Abdullahi, the Managing Director of the Nasarawa State Investment Development Agency, said the bi-annual event was instituted to showcase the investment opportunities in the state.