Solomon Attah,
Lafia
Governor Abdullahi Sule of Nasarawa State has constituted and inaugurated a 13-man Investment and Economic Development Advisory Council, saying that his administration would adopt a robust investment policy that would make the state a hub for investment opportunities and sustainable economic development.
He said, the economic objectives of his administration would be structured on the interim, short, medium and long term arrangements that would conveniently accommodate investors and Business minded persons in the state.
Sule stated this yesterday at the Inauguration of the Nasarawa State Investment and Economic Development Advisory Council, held at the Government House, Lafia.
He revealed that the state government would establish a one-stop shop Special Purpose Vehicle to process, regulate, manage and also drive home our investment initiatives in the state.
“we shall explore the Public-Private Partnership (PPP) approach to finance special infrastractural 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.
According to Governor Sule “we deem it necessary to evolve new strategies that will make the State more economically viable.
“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.
“This is 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.
He tasked members of the council 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.
He therefore charged the 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.
He gave the committee terms of reference to include, to 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; Provide advisory roles according to their specialised industry as appropriate and relevant in guiding and shaping the Government’s economic vision; Advise the Government on necessary incentives, policies and frameworks for enabling business environment in the State.
Other areas the council was expected to focus on is to 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; Identify potential funding sources to support Governments investment in economic development projects; Analyze any issue, economic or otherwise, referred to it by the Government.
In his acceptance speech, chairman of the committee, Prof. Konyishola Ajayi (SAN), who appreciated the governor for finding them worthy of interpreting the vision to industrial the state.
He however, requested that the committee should shielded from the administrative bottle neck and political interference, promising to bring their words of experience from their various fields of expertise.