The Governor of Benue State state, Rev. Fr. (Dr) Hyachinth Alia is in Washington DC wooing diaspora investors at the sidelines of the IMF/World Bank spring meetings.
Gov. Alia who spoke at the Nigerian Professionals Event tagged “Activating New Partnerships: Mobilizing Nigerian Diaspora Resources for Impact Investments” said Benue State is a preferred investment destination based on the ease of doing business environment put in place in the state and the huge returns on investments.
“Benue State remains an attractive destination for investment. Our rich agricultural resources, untapped mining potential, and strategic location within Nigeria present unique opportunities for growth and development” he said.
“As a result, our administration has been hard at work implementing various programmes to encourage diaspora engagement and attract investments across key sectors such as agriculture, infrastructure, Power, mining, Health Care and water reticulation. We have restructured the Benue Investment Company & Property Company to attract Foreign Direct Investment in the states by deployment of resources and expertise across ministries, departments, and agencies in a timely, efficient, and accountable manner to build synergy within the government and fast-track the bureaucratic process of doing business. We aim to complete most business documentation processes within 24 hours of initiation” the governor told the prospective investors.
He said “Investors looking to make a positive impact while seeking reasonable returns can find promising prospects in Benue State. From agribusiness to renewable energy, and infrastructure development to mining concessions, the possibilities are vast and ripe for exploration.”
He also said the state is working on strengthening its public-private partnership framework for easier collaboration.
“We have commenced a collaboration with the Bureau for Public Enterprises to strengthen Benue State’s Public-Private Partnership (PPP) framework and establish an electricity regulator that can open up the state for industrialization. We are aware that a well-established PPP framework will mitigate investment risks by providing clear rules, guidelines, and dispute resolution mechanisms. This, in turn, boosts investor confidence, including among diaspora investors, who may be more inclined to invest in projects with robust regulatory frameworks and oversight mechanisms” he noted.
He also said there are opportunities to invest in state assets that non-performing. “We inherited 25 moribund assets which we want to commercialize, concession, or outright sell to private investors,” the governor said.
“From agribusiness and renewable energy to mining and asset concession, there are ample opportunities for high returns and positive social impact. Our administration is committed to creating an enabling environment for investors, with supportive policies, streamlined regulatory processes, and access to land and other natural resources” he further stated.
