The Kano state government has concluded plans to launch a 5-year multi-sectoral investment strategy to attract investment opportunities and boost revenue generation.
The plan was disclosed by the Director-General of the Kano State Investment Promotion Agency (Kan-Invest), Muhammad Naziru Halliru, while briefing journalists in Kano.
The DG said the five-year strategic blueprint is designed to attract local and foreign investors to deploy their resources in key economic sectors and viable commercial deposits in the ancient city.
Halliru emphasized that the Kan-Invest plan covers large areas of economic deposits waiting for exploration, especially in energy, agriculture, health, education, transportation, and other areas of trade, industries and manpower.
According to the Director-General, the agency, with the approval of the state governor, Abba Kabir Yusuf, will hold an elaborate event to unveil the strategic plans and open Kano’s window of opportunities to potential business partners within and outside the continent.
He reminded the agency, under the directive of Governor Yusuf, that an enlightenment campaign for local investors would soon unfold, with provisions for an enabling environment and incentive packages.
Part of the incentives the government has pledged include easy access to land, friendly services, and tax waivers, among other provisions to ease the business ecosystem.
He said, “This is very important because, in Kano state alone, we can have an individual invest in power that the whole state could depend on. We have wealthy people in Kano who 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 previous government did not provide an enabling environment for investments to thrive. They did not see the legal framework to project and protect their investments. They did not see the government giving them necessary attention or providing an enabling business environment for them to invest, which is why they are reluctant to bring their resources.”
He said the state government, through the agency, is working assiduously to provide a conducive business environment in accordance with global standards.
The DG also disclosed that the governor’s investment agenda is yielding fruit, with several investment plans and proposals, including the USSD 500 million proposed investment in solar energy.
He added that discussions are ongoing with some foreign investors from the United Kingdom, China, the United States, India and other countries to come to Kano.
“But this present administration has provided, as I said earlier, an enabling environment for investments. Not only those who have indicated interest to invest, our commitment and plans are to woo foreign and local investments into our state,” the DG of Kan-Invest said.