The presidential candidate of the Peoples Democratic Party in the 2023 general elections and former Vice President, Atiku Abubakar, has said that a stable and secure business environment will not only attract investments but also lead to economic growth.
Atiku stated this while speaking at the Taraba International Investment Summit, tagged ‘Taravest,’ in Jalingo, the Taraba State capital, on Wednesday.
He said that Taraba’s economy holds significant investment potential and could be optimised to reap the benefits with the provision of a stable and secure investment climate.
He identified agriculture, solid minerals and tourism are strategic to the development of the state, and urged the government to implement measures that will address investment risks and eliminate bottlenecks
“The government is urged to implement measures that will address investment risks and implement interventions, and eliminate bottlenecks.
“Peace, security, and stability in host communities are critical determinants of investment flows,” he said.
He identified efforts that should direct the government’s efforts in attracting investment to include an investment generation that is well-designed with clear goals, objectives, and strategies, as well as clear, coherent, and consistent policy measures.
Atiku explained that efficient institutions would make all the difference, improve the supply and quality of infrastructure, and hence, are the backbone of sustainable development.
According to him, no Nigerian state has the necessary physical and financial space to independently drive growth and achieve sustainable development.
He, therefore, said that building strategic partnerships between the state, private investors, local businesses, and communities was critical in addressing resource gaps and unlocking the potential of the state to facilitate investments.
The former vice president further stated that private investments would help bridge the resource gaps through additional external resource flows in increased internally generated revenue.
He said, “Indeed, if Taraba aspires to realise its potential and grow its economy sustainably, it must endeavor to leverage private sector resources, including, as Aliko Dangote said, finance, skills, and technology.
“As a private businessman, I recognise that investment, foreign and domestic, drives economic growth and development.
“Private investments will assist the state in leveraging and maximising the economic potential of its agricultural, industrial, and solid mineral sectors, which Taraba is very well known for. This initiative aims to establish a foundation for a diversified economy and ensure inclusive growth.
Atiku emphasised the importance of skill and technology transfers, which he said could lead to higher productivity and improved competitiveness in local enterprises.
“Taraba will be able to upgrade social and economic infrastructure to support economic growth and human capital development.
“Investment in education and healthcare services will help develop the capacity and competencies 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 minimise poverty,” he added.
The former vice president, however, commended the governor for his efforts towards promoting economic growth, prosperity, and improving living standards were clearly evident.
“This initiative to gather investors, both domestic and international, along with development partners under one roof aligns with your vision ‘to build a prosperous, united and secure Taraba State that serves as a model for growth, economic diversification and sustainable development,’ he added.
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