TheCable

Abdullahi Sule, governor of Nasarawa, says his administration is seeking to attract more foreign direct investments (FDIs) into the state through the forthcoming second investment summit.

The summit will be convened by the Nasarawa Investment and Development Agency (NASIDA) on May 15 and 16 in Lafia, the state capital.

The state’s inaugural investment summit was in 2022.

Addressing a press conference in Abuja on Tuesday, the governor said his administration is seeking medium to long-term investments into the state.

“I do not know if we want to set a benchmark for FDIs, but if we can have all the FDIs in the world coming into Nasarawa state, I will welcome it,” Sule said.

“All the FDIs should be medium to long-term investments. They should not be a quick fix, where somebody is coming today and putting in money like he is buying shares today and selling them tomorrow, we don’t have those kinds of investments in Nasarawa.

“But for how much it is, I don’t think we are interested in setting a benchmark.”

The governor said an investor has set up a facility that is set to mine 4,000 metric tonnes of lithium per day.

“It is situated in Nasarawa town in Nasarawa local government. The size of the plant is about 4,000 metric tonnes of processing capacity a day. It is owned by the investor, it is not a PPP arrangement,” he said.

“About three years ago, we came up with a policy that whoever is going to be mining in Nasarawa state must also carry out some processing in Nasarawa.”

Sule said the state is targeting infrastructural development, policy formulation and reform, as well as inclusive development among others.

“Through the knowledge-sharing sessions and presentations, the summit will disseminate best practices, innovative solutions, and technological advancements relevant to industrialisation, thereby building the capacity of local stakeholders and fostering a culture of continuous learning and improvement,” he said.