We’ll Adopt Robust Investment Policy- Gov Sule

By Our Reporter

Governor Abdullahi Alhaji Sule of Nasarawa state has stated that his administration will adopt a robust investment policy and economic objective
that will be structured on interim, short, medium and long term
arrangements.

Speaking while inaugurating state economic advisory and investment committee in Lafia Monday, Governor Sule also said government would establish a one-stop shop Special Purpose
Vehicle (SPV) to process, regulate, manage and also drive our investment
initiatives, adding “we shall explore the Public-Private
Partnership (PPP) approach to finance special infrastructural development
projects, as well as deploy strong political will to provide incentives to
willing investors that have shown interest to assist Government achieve its
objectives” He further stressed that government will also evolve new strategies that will
make the State more economically viable, saying ” it is for this reason that we
found it necessary to constitute an Investment and Economic Development
Advisory Council for the State to provide an effective mechanism for
engaging the private sector on matters relating to investment and economic
development of our beloved State”. Governor Sule maintained it was in line with the policy thrust of
this administration designed to launch Nasarawa State on the path of
progress and development for socio-economic prosperity that the economic council was constituted.

He revealed that the Council is expected to leverage on their experience and network to
unlock any possible constraints that might have hindered the progress of
the economic potentials of the State and facilitate the in flow of domestic
and foreign investments to the State. Governor Sule who also noted: “It is in furtherance to our
commitment to transform the State into a high pedestal of development that
we consider it imperative to set up the Nasarawa State Investment and
Economic Advisory Council to appraise the State economic potentials,
including the sources of revenue generation and advise Government on
appropriate policies and frameworks that will enhance the investment
opportunities and economic development of the State. In carrying out these enormous responsibilities, Governor Sule said the Council is to be
guided by the following terms of reference:
Support and advise the Government on the development of policies,
programmes and strategies which will encourage investment and economic
development of the State; Advise Government on matters relating to the attraction of domestic and
Foreign Direct Investment (FDI) in the State; Act as ambassadors for investment initiatives and advise on
competitive issues, policies and programmes and Provide advisory roles according to their specialised industry as
appropriate and relevant in guiding and shaping the Government’s economic
vision. Others includes: Advise the Government on necessary incentives, policies and frameworks
for enabling business environment in the State; Facilitate close working relationship with key global private sector
stakeholders, including Multilateral Organizations, Development Partners,
Donor Agencies and Development Finance Institutions for investment in the
State to facilitate growth and development; Promote the image of Nasarawa State as an investment destination for
the establishment of new businesses or growing existing ones; Identify any current policy or process of Government that is/are
impediments to supporting business and industry; Support and facilitate the implementation of the Nasarawa State
Economic Development Strategy; Monitor and advise on the development and implementation of annual
budget of the State; Review and provide inputs into sector specific reports, policies and/or
frameworks that support investments or economic development of the State; and Identify potential funding sources to support Governments investment
in economic development projects as well Analyze any issue, economic or otherwise, referred to it by the
Government.
Governor Sule disclosed that The Council which is to be in place till the end of tenure of this
Administration is expected to submit periodic Report to Government for
review in the development of the State, adding that all necessary enablement will be provided to support the Council to
facilitate smooth execution of its mandate. Governor Sule who also stressed that government will endeavour to
ensure that the Council’s work is integrated into our policies and
programmes for the socio-economic development of Nasarawa State also announced that the Council will be independent and purely advisory in
nature and to serve as a “Sounding Board” on policies that will improve the
business environment and economic development of the State.

Governor Sule then maintained that members of the Council were selected based on
their track records of experience, professionalism and proven antecedents.
They represent the best in Local and International business communities,
and all shades of opinions in economic and business acumen. “I am convinced
that the Council will continually provide economic and investment roadmap
for Nasarawa State” Governor Sule further pointed out.

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