Kano to unveil five-year multi-sectoral investment plan

The Kano State Government has unveiled a five-year multi-sectoral investment strategic plan toward wooing local and foreign investors into the state.

The objective, according to a statement on Sunday issued by the governor’s spokesman, Sanusi Bature, is to woo investors to invest heavily in key economic sectors toward boosting the state’s economy and provide revenue for the government to facilitate the execution of developmental projects.

The Director-General of Kano State Investment Promotion Agency (Kan-Invest), Muhammad Naziru Halliru, made the disclosure while addressing newsmen in Kano.

According to Halliru, the plans are to invite investors to invest in the areas of energy, agriculture, health, education, transportation, and other areas of the economy.

He said that with the approval of the state governor, Abba Yusuf, there would be an elaborate ceremony to unveil the plans, which would create an enabling business environment for investments to thrive in the state, which is the commercial nerve centre of Northern Nigeria.

He also disclosed that the agency, under the leadership of Yusuf, would unveil an enlightenment campaign for local investors to invest in the state.

“This is very important because, in Kano state alone, we can have an individual that would invest in power that the whole state could depend on.

“We have wealthy people in Kano that could invest heavily in many areas of the economy. Sometimes, we may only need foreign investors for advanced technology.

“The reason why we do not see them is that the immediate past government did not provide an enabling environment for the investments. The legal framework to project their investments was unavailable. They did not see the government giving them necessary attention and providing an enabling business environment for them to invest; that is why they are reluctant to invest,” he said.

Halliru restated the commitment of the agency to create awareness for local investors to see areas to invest in, “beyond building plazas and corner shops.”

He said the state government, through the agency, is working assiduously to provide enabling business environments in accordance with global standards, adding that the plans would be launched in a few months’ time.

The DG also disclosed that the governor’s investment agenda is yielding fruits, adding that several investment proposals from companies to invest in Kano are underway.

According to him, the majority of them had submitted proposals to invest in solar energy, disclosing that some had even proposed over $500 million in investment.

He added that discussions are also ongoing with some foreign investors from the United Kingdom, China, the United States, and India, among others to come to Kano.

“Some of them told us that they attempted to invest in Kano during the immediate past government, but there were no incentives for their investments.

“But the current administration has provided the enabling environment for investments. Not only those who have indicated an interest in investing but our commitment and plans are to woo foreign and local investments into our state.

“I am happy our governor is giving us maximum cooperation and support. Very soon, people of Kano State would witness a boom in our economy, courtesy of investments that would be coming into the state from domestic and foreign investors,” he added.