In a bid to create enabling environment that will attract investors, Nasarawa State Governor, Engineer Abdullahi Sule, has signed the Nasarawa State Investment Development Agency Bill 2020, as well the Nasarawa State Mortgage and Foreclosure Bill, into law.
Engineer Sule signed the two bills into law at a brief ceremony at the Government House, on Thursday.
The event was witnessed by members of the state executive council, the legislature led by the Speaker of the Nasarawa State House of Assembly, Rt. Hon Ibrahim Balarabe, as well as the CEO/MD of the Nigerian Mortgage Refinancing Company (NMRC), Kehinde Ogundimu, amongst other top government functionaries.
In a remark shortly after signing the bills into law, the Governor described the two new laws as foundation for the take-off of the state’s friendly business environment, stressing that without the laws, it will be difficult to attract lots of investors into the state.
“Without these laws, it would be very difficult to be able to invite a lot of investors, who are serious about investment, who understand what investment is, who understands what it takes for resolutions of all kinds of issues that come as a result of investment,” Engineer Sule said.
According to the Governor, the Nasarawa State Investment Development Agency, will facilitate the establishment of a one stop shop for all kinds of investments, where government will assist investors towards realizing their vision.
“Once you are there, they will do the run around for you. And you tell them what type of investment it is, registration of your company, understanding your taxes, what kind of benefits you will have, what kind of wavers that are going to be available to you. What does it take for you to acquire land, what does it take to get your documentations, what is there to get your C of O,” he stated.
The mortgage and foreclosure law, on the other hand, will promote liquidity.
“For housing, it’s going to fast track the process of creating all the legal issues on mortgages and the issue of timely resolution of all kinds of disputes that are likely to happen,2 Engineer Sule said.
The Governor used the opportunity to the government team, as well as the MD of the Nigeria Mortgage Refinancing Company and his team, for coming up with the blueprint that led to the signing of the two bills into law.
Engineer Sule equally commended the Nasarawa State House of Assembly, particularly the Speaker, Rt. Hon Ibrahim Balarabe, for the prompt consideration and speedy passage of the bills into law.
Earlier, the MD NMRFC, Kehinde Ogundimu, described the event as a milestone not only for Nasarawa State but the country as a whole, adding that the signing of the two bills into law is the laying of a solid foundation for investments and greater things that will come to the state.
“There is a direct correlation between legal framework and amount of investments you have in a state. Now that we have the legal framework, we will not relent in attracting investment to Nasarawa State,” Ogundimu said.
Also, in an opening remarks, Special Adviser to the Governor on Investment and Economic Planning, Barrister Ibrahim Abdullahi, said industrialization or investment can happen in a sustainable way only through the creation of enabling legal and regulatory frameworks.
“This is the promise of Engineer Abdullahi Sule as enshrined in the Nasarawa Economic Development Strategy (NEDS), to create a private sector led and competitive economy for our state,” the SA said.
Abuja Based Food Company Expresses Readiness To Partner With NSG To Train 1, 500 Cassava Farmers
Pacific Ring West Africa, a food company based in Abuja, said it will partner with the Nasarawa State Government, to train 1,500 farmers from the state, for the cultivation of cassava which the company uses as raw material.
Chief Executive Officer (CEO) of the company, Thomas Hirsch, a German, disclosed this while on a courtesy call on Nasarawa State Governor, Engineer Abdullahi Sule, on Wednesday.
Hirsch disclosed that his company, in conjunction with the German Embassy’s development agency, the German Industrial Service, will send an expert on tropical agriculture, to train the 1, 500 on modern farm practice and give them the possibility to supply the company as off-takers.
He said his company, which is now exporting cassava chips to Europe, choose Nasarawa State because of it’s abundant land resources, availability of sweet cassava, as well as it’s proximity to the Federal Capital Territory.
“We want to group the farmers, organize them and them, give them the possibility to supply us on a regular basis.
“We will bring them to workshops in Abuja, there is so much the German government can offer through this PPP project,” Hirsch stated.
Hirsch explained that the idea for his company to expand was because of the need to create a product in the food industry that is sustainable all year round, adding that Pacific Ring West Africa is wiling to pay good price to the farmer.
While noting that development and value addition on local crops in Nigeria is not comparable with advanced methods as obtained in Indonesia where he does business, Hirsch said he came to Nigeria because it is one of the biggest producers of cassava in the world.
He said he got to know the idea of adding value to cassava, one of their main stable crop also, while in Indonesia.
“But we also know that there is a disconnect between farmers, off takers, infrastructure and market pricing demand, because what we see is that big industries are also buying on low level prices.
“Our idea was to create a product in the industry which is sustainable all year round, which means 365 days and we can also afford to pay a good average price for the crop to the farmer, so that the farmers are also enhanced and able to plan ahead,” he said.
Hirsch said with Nigeria having 600 to 700 different varieties of cassava, his company cited its factory in Abuja because of the available special variety of cassava with less starch which is suitable for use in the food industry.
Responding, Nasarawa State Governor, Engineer Abdullahi Sule, expressed willingness to partner with Pacific Ring West Africa, to train cassava farmers in the state, stressing that the gesture is not only apt but in line with the policy thrust of his administration.
Engineer Sule said Nasarawa State has both the land and human resources to produce any amount of cassava the company may require.
Speaking from his experience while in the organized private sector, the Governor however advised the company to consider backward integration by establishing their own farms in the state.
He listed Kokona, Wamba and Nasarawa Eggon Local Government Areas as major cassava producing areas, urging the company to consider acquiring land in these areas to set up their farms.
“In the interim, we welcome your idea of training our farmers to produce cassava for your factory and we are willing to support and partner with you,” Engineer Sule said.
As part of the visit, the management of the Pacific Ring West Africa, distributed food packs containing the company’s finished products that is being sold across Europe and within the country.
Intels Reportedly Sacks About 600 Workers
The fragrant disobey for Nigeria Labour laws by both local and foreign employers of labour in the country continues unabated as Intels Services Nigeria Limited has announced the sack of about 600 workers.
The Maritime Workers Union of Nigeria (MWUN), said on Wednesday that Intels Services Nigeria Limited terminated the employment of no fewer than 600 workers in its Rivers and Warri operational areas.
The company has also of recent declared 30 workers redundant, MWUN said in a letter to the Managing Director, Intels Nig. Ltd., Onne Port; made available to journalists in Abuja late Wednesday evening.
Reacting to what it called unlawful sack of the workers, MWUN, gave the management of intels a 7-day ultimatum to withdraw the sack letters and recall the affected workers or face total shut down of its operations nationwide.
In the letter, the Secretary-General of MWUN, Comrade Felix Akingboye, said: “Over the years the welfare benefits of your employees (Intels Nig. Ltd.) and that of your subsidiary Company, AMS, has always been the product of joint negotiation between your Management and the Union. In other words, the employees of the Principal (Intels Nigeria Ltd) and its subsidiary AMS enjoy the same welfare benefits.
“Recently, your management declared about 30 of its employees redundant and the Union was duly consulted, and a joint communiqué between management and the union was issued after due negotiation. Regrettably, however, we are informed that your management has terminated its contract with AMS which has led to over 600 workers (who are our members) being declared redundant without due recourse to the Union for the negotiation of their terminal benefits.
“Letters of termination/redundancy, we are informed, had already been served on the workers. This unfair labour practice is not acceptable to us. I have been directed to issue your management with a seven-day notice effective from the date of this ultimatum, within which to withdrawal all the letters of termination/redundancy served on the workers and recall them to duty, otherwise, we shall be compelled to withdraw our services from your terminal at the expiration of the notice.”
The union added, “We demand that status quo ante should remain pending when a management/Union meeting is convened to negotiate their exit and payment of terminal benefits.”
Kogi Investment & Properties LTD Set to Showcase Economic Potentials Of The State to the World
The Management of Kogi Investment & Properties LTD, under the supervision of Hajiya Aisha Suleiman has reaffirmed her commitment to transforming the State economy to an excellent pinnacle by the vision of his Excellency, Alh. Yahaya Adoza Bello, the Executive Governor of Kogi State. The Management made the reaffirmation of her desire to boast the Economic sector of the state in a business meeting held with the CEO of InvestAfrica Magazine.
The meeting was called upon by the MD of KIPL to promote the economic potentials of the state, after taken cognizance of the Tourist Attraction, Agriculture, and abundance of Natural Resources in Kogi State.
During the meeting, Hajia Aisha highlighted some of the business opportunities in the state that can improve her economy which she has been able to hold sight of since her assumption as the MD/CEO of KIPL. “The opportunities are extraordinary which always rekindle my spirit to do more in harnessing it into proper effective use for the best interest of Kogi State.
“There are Mineral Resources almost in all the twenty-one local government of the state. Therefore, my focus as the MD of KIPL is so within until the Administration of Governor Yahaya Adoza Bello’s quest to position the state as one of the best commercial cities in the country is duly actualized,” Hajiya Aisha stated.
The CEO of InvestAfrica magazine, Mr. Kunle Aderemi who is also an economic expert, assured the state of his partnership in showcasing the economic potentials of the state to all African Countries and the World at large. According to him, this is the fastest and safest route to grow the state to become an economic hub of the nation.
InvestAfrica Magazine is a magazine with an international outlook, based in the UK. The CEO had been working with other African Countries until recently he was drawn to serve Nigeria, his home country.
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