Former Vice President Atiku Abubakar has urged the Taraba State Government to intensify efforts at attracting both local and foreign investments as a strategy to unlock what he described as the state’s “vast economic potential.”
Speaking on Tuesday at the Taraba State Investment Forum held in Jalingo, Atiku said sustainable growth will not come from government revenue alone, stressing the need to build strong partnerships with the private sector.
“If Taraba aspires to realise its potential and grow its economy sustainably, it must endeavour to leverage private sector resources including finance, skills and technology,” he told a gathering of business leaders, development partners and senior government officials.
The former Vice President, who served from 1999 to 2007 and is himself a businessman, praised Governor Agbu Kefas for hosting what he called “a pivotal event” that reflects clear vision and ambition.
“Your efforts towards promoting economic growth, prosperity, and improved living standards are clearly evident,” Atiku said.
Atiku said that Taraba, which is nicknamed “Nature’s Gift to the Nation,” is known for its rich natural resources, fertile land, and significant mineral deposits, yet remains one of the least industrialised states in the country, but its reality can be changed with the right strategy and political will.
“Private investments will help bridge the resource gaps through additional external resource flows and increased internally generated revenues. They will assist the state in leveraging and maximizing the economic potential of its agricultural, industrial, and solid minerals sectors,” he said.
He noted that investments, especially from the private sector, come with technology and skills transfer, which can lead to “higher productivity and improved competitiveness of local enterprises,” as well as improved infrastructure that supports long-term growth.
“At the end of the day, additional resources will allow Taraba to upgrade its social and economic infrastructure, develop human capital, and better support the poor and vulnerable,” he said.
He further warned that the road to becoming an investment destination demands more than just goodwill.
Atiku stressed that clear, consistent and coherent government policies were non-negotiable.
“Policy flip-flops have hindered Nigeria’s development for decades. Policy uncertainty and inconsistency deter investment by sending mixed signals to prospective investors,” he said.
He called for targeted investment strategies with clearly defined priorities, especially in sectors like agriculture, infrastructure, education, health, and renewable energy.
According to him, investors are more likely to commit resources when a state has a well-articulated development agenda.
He also said peace and stability are crucial for attracting long-term capital.
“Investment capital is a coward bird and tends to avoid regions that are prone to conflicts and instability,” he said, urging the state government to maintain harmony through increased civic engagement and dialogue.
On the role of institutions, Atiku said government agencies must build capacity to carry out their responsibilities more efficiently.
He suggested that Taraba’s investment promotion agency be empowered to operate a one-stop shop for investors to reduce delays and eliminate red tape.
He also identified infrastructure as a major barrier to doing business in Nigeria.
“Inadequate infrastructure has been identified as the most problematic factor for doing business in Nigeria. The development of quality, reliable, sustainable and resilient infrastructure including water facilities, roads, power etc will not only create an enabling environment for industries but also make Taraba more conducive for habitation,” he said.
On incentives, he encouraged the state to maintain an “enduring incentive regime” that is not just attractive on paper but actually accessible in practice.
“Taraba should not only spell out an appropriate incentive structure to motivate investors but must also ensure that these incentives are delivered timely,” he said.
Atiku further called for massive investment in technical and vocational training, saying a skilled workforce is critical for economic diversification and sustainability.
“Taraba should endeavour to increase investments in and prioritise Technical and Vocational Education and Training expansion,” he said, adding that developing a reservoir of artisans, craftsmen, and mid-level technical workers is key to driving innovation and productivity.
He concluded by urging the government to carry communities along before and after investors move to site.
“Many of us have witnessed how worthy economic and investment decisions are often formulated without sufficient diagnostic assessment and consultation with relevant stakeholders and have had to be abandoned midway,” he said.
As he closed his remarks, Atiku encouraged participants to remain optimistic and seize the opportunity.
“Do not be discouraged by everyday challenges. You have in Taraba a proactive Governor who is ready to support genuine efforts to fully unlock Taraba State’s potential,” he said.
