Jigawa attracts over $600m private direct investment

North West state of Jigawa has attracted over $600 million worth of foreign and domestic investment since the inception of the current administration in the state.

The bulk of the investment, which flowed into the state, has been attracted into the agricultural value chain development in rice and sugar cane cultivation, as well as sugar refinery construction.

Government Mohammad Badaru Abubakar disclosed that the investment came into the state as a form of private direct investment, as a result of investment promotional package embarked by his administration.

“We have since inception of office recorded progress with regards to promotion and development of modern activities anchored around the nodal location of Jigawa State, along the age long Trans Saharan route and its central location along the revenue occasioned by the global economic meltdown.

“Particularly, during the last 12 months of this administration, over $600 million private direct investment was attracted across the state, as substantial portion of which was directed into the agricultural sector.

“We are able to achieve this through the diligent investment promotion derive, the sustained and effective institutional reforms pursued as well as the specific regime of incentives put in place,” he said.

In the same vein, the governor said his administration had also created three trade corridors along the border regime with Niger Republic in partnership with Nigeria-Niger Joint Commission.

According to Abubakar, the trade corridor, which was created to enhance the viability and sustainability of the state, runs from Zinder-Daura-Jigawa-Kano all through to Maigatari Border Free Zone, which is to serve as the hub of the trade corridor.

“When we took over government exactly over a year ago, we resolved to pursue a private sector-led economic development strategy that is anchored on agriculture value chain development, a programme designed to optimise our comparative advantage.

“The resolve to shift our economic development agenda on agriculture was re-enforced by the current threat, which the activities of the Niger Delta militants blowing up oil infrastructures, posed to revenue flow from the sector.

“We realised that the sooner we diversify the better because we are richly endowed, we have human capital, and a verity of other resources, as well as vast arable land for cultivation,” he said.