Taraba State has emerged as Nigeria’s top destination for foreign direct investment (FDI) in 2025, following a $268.63 million financing deal recently approved by the ECOWAS Bank for Investment and Development (EBID).
Special Adviser to the Governor Agbu Kefas on Policy and Strategic Communications, Hon. Nelson Chris-Dimas, who stated this in a release issued in Jalingo on Sunday, explained that the development is a direct outcome of the Taraba Investment Summit, TARAVEST, held in May 2025.
The investment, described as the largest single FDI secured by any Nigerian state this year, is tied to major agro-industrial and renewable energy projects aimed at repositioning the state’s economy.
Dimas also noted that the funding was not just a headline figure but a practical step towards transforming Taraba’s economy and meeting the daily needs of the people.
‘The $268.6 million ECOWAS Bank deal is the clearest validation yet of what TARAVEST was designed to achieve. Those who dismissed the summit as an expensive showpiece can now see the credibility it has unlocked for our state,’ he stated.
He explained that the investment will finance several strategic projects, including a 10,000-hectare rice farm, a state-branded rice mill, an industrial park focused on agro-processing and logistics, and a 50-megawatt solar power plant.
‘These projects will not only reduce the import burden on food but also create jobs, boost local production, and make Taraba a hub for agribusiness and renewable energy,’ Dimas said.
He noted that the deal could inject over ?400 billion into the state’s economy through expanded business activities, tax revenues, and infrastructure growth.
‘Governor Agbu Kefas has shown that development is not built by rhetoric but by creating conditions for capital to find confidence in our soil. TARAVEST was the platform; this investment is the proof,’ the aide added.
He further stressed that the initiative signals a shift from reliance on federal allocations towards a self-sustaining, investment-driven economy.
‘For those still asking what benefit TARAVEST has brought, here is your answer: it has brought the largest foreign direct investment any Nigerian state has secured in 2025,’ the statement added.