In preparation for the Taraba State International Investment Summit (TARAVEST 2025) scheduled for May 21, 2025 in Jalingo Taraba State Capital, the State Governor, Dr. Kefa Agbu and the Rt. Hon. Ndudi Elumelu-led Main Project Committee has enlisted the support and participation of members of the diplomatic community in Nigeria.
This is part of the action plan of the Elumelu-Led Main Project Committee to attract massive foreign investments to the Taraba State; the main goal of the Summit, which aims to unlock Taraba’s investment potentials in agriculture, energy, solid minerals, industrialization among others.
Addressing members of the Diplomatic Community at the Ministry of Foreign Affairs, Abuja on Monday, the Governor Agbu highlighted the State’s untapped potentials in the areas of agriculture, mining, energy, digital economy and tourism adding that for over two years Taraba State has continued to be peaceful and secured for investment and investors.
The Governor said the engagement was to equip the Diplomatic Community with information about the Summit as well as investment opportunities in Taraba State as well as the assured security, infrastructure and friendly business environment in the State.
“Your Excellencies, please allow me to highlight strategic advantages that make Taraba uniquely investable.
“In the area of peace and security, under our Strategic Security Council, Taraba has recorded zero major incidents in over two years. In agriculture, we have over 44,000 km of arable land that are ideal for rice, maize, cassava, and other specialized crops, while in the energy sector, we have unparalleled hydropower potentials on the River Benue and solar mini-grids all over the 168 walls in Taraba State.
“In the mining sector, we are rich, and we have rich reserves of gold, limestone, lithium Iron ore, and so many others that will be given to you in due course. In the digital economy and tourism sector, we have an emerging ICT hub and world-class attractions like our National Park,” Governor Agbu highlighted.
On the structure of the summit, he said it was going to be based on Business-To-Government matchmaking, as well as Business-To-Business matchmaking, even as he assured that potential investors would experience action-oriented panels, policy incentives, PPP frameworks, and priority projects that will be assigned to them.
“There will be a one-on-one meeting to negotiate MOUs and joint venture agreements. The purpose of this is for investors to gain direct access to decision-makers, clarify regulators’ requirements, and discuss public-private partnership opportunities. Also, to facilitate joint venture talks, supply chain linkages, technology transfer, and co-investment arrangements. Also, there are guided site visits, which involve modern farms, exploration zones, and other newly remodeled facilities.
“I want to assure you that we have coordinated with the state security services, the Nigerian military, the Nigerian police, and our traditional rulers and other local security apparatus to guarantee your safety throughout the period of your stay. In the area of logistics and accommodation for those that will decide to stay back, we have chartered flights to Jalingo,” he said
Earlier in his remarks, the Chairman of the Main Project Planning Committee, Rt. Hon. Ndudi Elumelu, assured the Diplomatic Community that measures have been put in place to ensure their safety and transparency in doing business in the state.
“The Governor will be talking to you to let you know the legal and regulatory framework protecting foreign investors in Taraba State, marrying the law of Nigeria vis-a-vis also the law passed by Taraba State House of Assembly and accepted by the government.
“The other one will be tax incentives. What will be there for the intended investors? What are those incentives in terms of tax relief that will be accruable to them if and when they decide to invest in Taraba State?” the former Minority Leader of the House of Representatives declared at the opening of the engagement.
Minister of Foreign Affairs, Amb. Maitama Tuggar who was represented by Amb. Anderson Madueke, assured the diplomatic community that Taraba State is indeed an investment destination.
“I wish to commend His Excellency and indeed the Government of Taraba State for convening this timely summit, particularly at this time when the whole world is in need of creating a travelling investment climate through cooperation.
“There is, therefore, the need for partnership between governments, private sector players, and civil societies. This significant gathering, therefore, reflects our collective pursuit of development and prosperity, not only for Taraba State, but indeed for the whole world,” the Minister stated.
In an interview with Journalist after the engagement, Hon. Elumelu assured that everything is being done to bring about a successful International Investment Summit in Taraba State.
