Industrialist Alhaji Aliko Dangote and business mogul Tony Elumelu have pledged to ramp up investments in Taraba State, citing the state’s vast potential in agriculture and energy.
Speaking at the Taraba International Investment Summit, popularly called ‘Taravest’ in Jalingo, the duo lauded the state’s business-friendly environment and called on both government and private stakeholders to work together in transforming the state into an economic hub.
Dangote said foreign direct investment is good, “but foreign investors will only come when they see that local investors are thriving. The government must encourage domestic investments first.”
Elumelu, founder of the Tony Elumelu Foundation and chairman of Transcorp Group, echoed Dangote’s position.
“We are ready to invest in Taraba through Transcorp and the Tony Elumelu Foundation. UBA will also continue to expand its footprint and financial services across Africa,” he announced.
According to Elumelu, investing in agriculture is critical to tackling hunger and strengthening food security.
“Investment helps to create jobs, curb unemployment, improve security, and empower people,” he stated.
He also commended the relative stability of the naira, urging the federal government to intensify efforts to reduce inflation and interest rates.
Vice President Kashim Shettima, who represented President Bola Tinubu at the event, described Taraba as the “agricultural powerhouse of Nigeria,” highlighting its untapped hydroelectric potential, particularly the Mambila Dam.
“Our growing population is a signal that we must invest aggressively in industrialisation. This summit is a necessary step to prepare for the future,” he added.
Governor Mohammed Bago of Niger State, speaking on behalf of the Nigeria Governors’ Forum, emphasised the need for strategic investment in agriculture.
“Taraba has a clear comparative advantage in agriculture. With the right investments, the state can significantly boost its economy,” he stated.
The Sultan of Sokoto, His Eminence Muhammadu Sa’ad Abubakar III, commended Governor Agbu Kefas for making Taraba relatively peaceful over the past two years.
“Bringing the world to Taraba is no small feat. The security gains made under your administration must be protected to sustain investor confidence,” the Sultan remarked.
He also called for urgent investment in the power sector to drive industrial growth in the state.
Former Vice President Atiku Abubakar, in his remarks, drew a parallel between the current investment efforts in Taraba and Nigeria’s return to democracy in 1999.
“What the governor is doing reminds me of the challenges we faced in rebuilding Nigeria’s economy then. He must leverage the private sector, bridge resource gaps, and prioritise investment in infrastructure, education, and health to improve human capital,” Atiku stated.
The Ooni of Ife, Oba Adeyeye Ogunwusi, also charged the governor not to rest on his laurels.
“It’s commendable that you have brought major players here. Now, focus on building on the strengths of Taraba. We need to see real investments in agriculture, tourism, and other critical sectors,” he said.
