NEF Unveils Investment Summit For North’s Economic Revival

The Northern Elders Forum (NEF) has declared that the North “cannot remain a sleeping giant,” as it unveiled plans for its investment and industrialisation summit designed to revive the region’s economy, harness its vast resources, and tackle insecurity and unemployment.

Speaking on Tuesday on Channels Television’s ‘Morning Brief’, NEF’s spokesperson, Professor Abubakar Jiddere, said the North could no longer ignore its economic challenges or depend on others for development.

“The North contributed to Nigeria immensely right from the colonial era, even politically,” Jiddere said, “But unfortunately, challenges started arising, especially as a region, the problem of low investments, insecurity, and the collapse of our industries, particularly the textile and manufacturing sectors. This has led to unemployment and wider socio-economic problems. The North cannot continue like this; we cannot remain sleeping giants.

“That is why the NEF found it necessary to create this economic and industrialisation summit to create awareness for our leaders, the 19 state governors, and both local and foreign investors to drive development.”

He stressed that the North remains one of Nigeria’s most resource-endowed regions, with human capital and natural resources yet to be harnessed.

“Northern Nigeria is very blessed to create development over a short space of time. We are known worldwide for agriculture and human resources, yet we have underestimated over 160 million able-bodied youth,” he explained.

“As NEF elders, we have decided to collaborate with our competent governors and the federal government. Globally, we have recognised 44 resources that are yet untapped but are available in the North — like lithium, oil, gas, and gold — to be harnessed so that we can reclaim the glory of the North.”

Also speaking on the programme, NEF’s Deputy Director-General, Dr Salisu Mohammed, said collaboration within the region and with the South was key to reviving industries and creating new economic opportunities.

“Collaborations between the North and South have started,” Mohammed said.

“We can see what happened between Lagos and Kebbi, how they collaborated for rice production, and the Lake Rice was initiated. There is also partnership between Gombe State and Rivers State, while the Taraba State governor has involved investors to kick-start a new airline. The time has come to reactivate our industries.”

The forum maintained that the initiative would focus on reviving agriculture, stimulating investments in manufacturing, and developing the solid minerals sector while tackling insecurity as a major obstacle to growth.