The Bauchi State Government has disclosed that the state’s gypsum and limestone mineral resources have so far attracted over $1.5 million in investment towards the establishment of the state’s cement production company.
This was revealed in a presentation made by the State Government on Tuesday at the Bauchi State Economic & Investment Summit Roadshow in Abuja, tagged “Unlocking Investment Potentials in the Pearl of Tourism,” which was attended by Nairametrics.
The event hosted several foreign investors, government officials, diplomats, and members of the media.
Update on State Investment Potential
According to the state government, “An abundance of gypsum and limestone of the highest quality had attracted an investment of over 1.5 million dollars towards the establishment of a cement production company, among others.”
- The government also highlighted that the state is blessed with substantial hydrocarbon/petroleum and uranium deposits, adding that an Oil and Gas Academy is being established at Alkaleri to develop local content in the industry, with support from the Nigerian National Petroleum Company Limited (NNPC).
- Speaking to the audience, Bauchi Governor Bala Mohammed stressed that it has become imperative for stakeholders to leverage the abundant potential the state has in agriculture, livestock, mineral resources, oil and gas, renewable energy sources, and a large human capital base, among others.
- He said this is necessary to create a trajectory of sustainable development and prosperity for the state and, by extension, the country at large.
The governor, who was represented by his deputy, Mohammed Auwal Jatau, said the government is planning to hold the Bauchi State Investment Summit 2025 later this year, themed “Rebuilding a Resilient Economy, Optimizing Investment and Partnerships.”
- He added that the government seeks to gather stakeholders from across the domestic and foreign investment landscape, while showcasing opportunities and fostering strategic collaboration through the execution of memoranda of understanding and the creation of joint venture platforms.
Speaking to the press, the deputy governor said the state has many investors coming to sign MOUs with the government ahead of the summit.
What to Know
On June 17, 2024, the Bauchi State government and Resident Cement Factory Limited agreed to establish a cement factory in the Gwana district of Alkaleri Local Government Area.
The state governor, Bala Mohammed, reportedly met with a delegation from the company at the Government House to finalize the modalities.
Governor Bala said the proposed agreement aligns with his administration’s commitment to unbundling the available natural resources in the state to create more job opportunities and generate more revenue.
He assured the investors of the security of their investment.
