Victor EzejaNigeria’s former Vice President, Atiku Abubakar, President of Dangote Group, Aliko Dangote, Chairman of Heirs Holdings, Mr Tony Elumelu, and other industry leaders have called for the creation of an enabling environment for businesses and economic growth in the country.
They made the call during the opening ceremony of the 2025 Taraba International Investment Summit in Jalingo, the state capital, on Wednesday, 21 May.
Join our WhatsApp ChannelThe Summit is a platform designed to showcase Taraba’s untapped potential to the world, highlighting the state’s vast opportunities across agriculture, energy, mining, and industrial sectors that investors can key into through meaningful partnerships to create sustainable economic development not just for the state but the entire country.
The theme of this year’s summit is “Unlocking Taraba’s Investment Potentials- Advancing Agriculture, Energy, Mining, and Industrialisation (AEMI) for Sustainable Growth and Development.”
Speaking at the event, Atiku noted that Taraba has huge natural resources that can be harnessed to boost the economic status of the state. He emphasised that if Taraba is to realise its potential in growing its economy sustainably, it must leverage private sector resources in the area of financing, building skills, and technology, adding that no Nigerian state has adequate fiscal capacity to independently drive growth and achieve sustainable development.
While acknowledging that investments – both foreign and domestic- drive economic growth and development, Atiku stressed the need for the state to build strategic partnerships with private investors, local businesses and communities in addressing the resource gaps and unlocking the potential to facilitate investments.
Sharing the benefits of allowing private sector participation, the former vice president said: “Private investments will help bridge the resource gaps through additional external resource flows and increase internally generated revenue.”
He added that “private investment will assist the state in leveraging and maximizing the economic potential of its agriculture, which is powerful; industrial and solid mineral sectors, which Taraba is very well known for.”
Atiku noted that the initiative aims to establish the foundation for a diversified economy and ensure inclusive growth.
“Through skills and technology transfers, private investments can lead to higher productivity and improve competitiveness in local enterprises. Through additional resource flows, Taraba will be able to upgrade in social and economic infrastructure to support economic growth and human capital development. Investments in education and healthcare services will help develop the capacities and competitiveness of the state’s human resources. With additional resources, Taraba will better support the poor and vulnerable by empowering them, improving their access to basic services and ensuring equitable distribution of resources to minimize poverty,” Atiku stated.
He called on the Taraba State government to implement measures that will address investment risks and remove bottlenecks in business registration processes and operations.
He further advised that to attract investments, government must have clear investment generation goals and strategies, coherent and consistent policy measures and ensure peace, security and stability in host communities, efficient institutions, improve infrastructure as the backbone of sustainable development, and incentives to help investors plan their businesses.
We Need Local Investors To Attract Foreign Investors – Dangote
President of Dangote Group, Aliko Dangote, said Taraba State is endowed with agriculture, tourism, and solid mineral resources that can be harnessed to boost the economic profile of not just the state but the entire country.
“These resources offer immense investment opportunities for investors. There are opportunities for processing natural resources. The state has huge potential for tourism, being the home of captivating landscapes, including Mambilla Plateau, Nigeria’s highest point,” Dangote stated.
READ ALSO: Africa’s Billionaire Landscape: Nigeria Dominates with 35% of Total Wealth
Speaking on the theme of the summit, Dangote said it is apt given the need to diversify the economy of the state and attract investors.
He pointed out that the private sectors play a major role in economic diversification and unlocking the latent resources to create wealth and also security.
He commended the government of Taraba State for embarking on extensive reforms to open the state for business.
He highlighted that the economies of countries in Asia were developed by local investors before foreign investors came in.
Africa’s richest man noted that the state’s action on business-enabling reforms, designed to improve the business environment in Taraba State, is commendable and demonstrates the administration’s commitment to attracting investors.
On attracting investments, Dangote said the only way to attract foreign investors is to have local investors on the ground who would naturally attract them.
“Domestic investors are the ones who actually attract foreign investment. If you don’t invite local investors to come and invest, no foreigner will come and invest here. Foreigners are attracted when things are good. Once they see that, yes, things are flowing, you don’t have to invite them, they will now come,” he added.
While noting that the government makes money through taxes from investments, Dangote urged the government to continue encouraging domestic investments to boost the economy.
He assured that Dangote Group will partner with Taraba State in the investment drive.
On his part, Tony Elumelu, who is also chairman of the United Bank for Africa Group, said he believes in investment because it helps to create jobs and empower youths economically.
He added that investments help to improve security when people are economically empowered.
Mr Elumelu noted that the investment initiative in Taraba State, especially in agriculture, would help to boost food security.
The billionaire investor called for the improvement of power supply across the country, stressing that it is critical in driving economic activities.
Taraba is Agricultural Powerhouse that must be harnessed – Tinubu
In his address, President Bola Tinubu, who declared the Taraba International Investment Summit 2025 open, said it is beyond the call for investment.
Tinubu, who was represented by the Vice President, Kashim Shettima, said the Federal Government is strongly behind Taraba State in the initiative to drive investment.
He declared that Taraba is an agricultural powerhouse that must be fully harnessed.
While acknowledging the challenges in the business environment, the Nigerian leader assured that the government is working towards addressing them.
He called on all investors to identify with the development initiatives across the country. He equally called for unity and tolerance of all groups for meaningful development to be achieved.
Also speaking at the event, Niger State governor, Mohammed Umar Bago, said re-echoed the need for government to create an enabling environment for businesses to flourish.
Bago, who represented the chairman of the Nigeria Governors Forum and Governor of Kwara State, Abdulrahman Abdulrazaq, emphasised that whatever investment is brought to Taraba State is for the good of the people.
Earlier in his remarks, Taraba State Governor, Agbu Kefas, said he has created a conducive environment for business activities and invited investors to identify with the state’s initiative for economic growth.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
