AfriPulse
The Kebbi State Government has disclosed that no fewer than 22 prospective investors have indicated interest in investing across key sectors of the state’s economy, particularly agriculture and energy, as part of efforts to accelerate economic growth and job creation.
Mohamed Kabir Kamba, Director-General of the Kebbi Investment Promotion Agency (KIPA), made this known on Wednesday during a high-level stakeholder engagement with private sector operators, investors and development partners held in Abuja ahead of the state’s investment summit.
Kamba said the engagement was designed to align ongoing policy reform discussions with investment promotion and partnership-building, noting that the approach reinforces Kebbi State’s commitment to a predictable, transparent and competitive business environment.
According to him, significant investment commitments have already been recorded, especially in the agriculture and energy sectors, adding that the state is confident of reaching financial close on several projects by February 11 next year.
“We are happy that investors have made significant commitments to invest in Kebbi State, particularly in the areas of energy and agriculture. This is a pre-summit event to engage with them and ensure we reach financial close by February 11,” he said.
Addressing concerns around security, the KIPA boss maintained that insecurity, which he described as a national challenge, has not deterred serious investors from doing business in the state. He noted that some of the largest companies in West Africa are already operating successfully in Kebbi.
“Our key selling point is our regulatory environment. We have a robust regulatory environment, policy, and frameworks. And we have a team that has a high capacity to manage investments in Kebbi State.
“Kebbi is a goldmine. Yes, there are security challenges, but they are not enough to stop our economic prosperity,” Kamba added.
He assured investors of a conducive and well-regulated business environment.
He added that the state’s major selling point remains its robust regulatory framework and institutional capacity to manage investments effectively.
Also speaking, Lawrence Osakue, Managing Director and Chief Executive Officer of Karlot Energy Limited, said the company plans to deploy mini-grid solutions to communities across the state to provide affordable and sustainable energy. He noted that the relative peace in Kebbi was a major attraction for the investment.
Osakue disclosed that the company is awaiting approval to access the VEDA site, which will enable it to conduct energy audits, community profiling and assessments of potential industrial hubs.
Similarly, Michael Oladeji, Chief Executive Officer and founder of FusedVision Limited, said the company would focus on solar energy solutions to support both the energy and agricultural sectors. He described Kebbi as a land of opportunity with immense potential for infrastructure development.
“Where there is power, there is investment. We see Kebbi State as a land of opportunity, particularly in energy, agriculture and infrastructure,” Oladeji said.
Responding to questions from journalists, Ali Abbas Usman, a board member of KIPA, disclosed that the state is in discussions with a group of foreign investors to establish a gold refinery in the Sokoto-Kebbi Basin.
He said the proposed refinery would serve as a regional hub for gold sourced from Nigeria and neighbouring West African countries.
According to him, investors from Dubai have expressed interest in refining gold from Niger, Burkina Faso and Mali within the Sokoto-Kebbi Basin, a move he said would boost employment and economic activity in the region.
Usman added that increased investment in the state would also help address security challenges by tackling unemployment and poverty, which often fuel social unrest.
“Investing in Kebbi is one of the most effective ways to neutralise banditry and disorder, as many of these issues are driven by hunger and joblessness,” he said.
Source: Businessday.ng | Read the Full Story…
