By Abdullahi Jalaluddeen
Borno State Governor, Babagana Umara Zulum, says the state is seeking private sector investment as it moves from post-insurgency recovery to sustainable economic development.
Zulum stated this at the Borno State Private Sector Engagement and Investment Roundtable in Kano.
Represented by his Chief of Staff, Dr. Babagana Mustapha, the governor urged investors to explore opportunities in agriculture, livestock, fisheries, renewable energy, manufacturing and other sectors.
He said Borno’s strategic location, bordering Cameroon, Chad and Niger, provides access to regional markets, while more than 80 per cent of its population is engaged in agriculture.
He also encouraged investors to establish production and processing industries, assuring them of the government’s commitment to human capital development and improved security.
The governor said the investment roundtable had earlier been held in Lagos and would proceed to Abuja to attract more private sector participation in the state’s economic development.
In her remarks, the Governor’s Chief Adviser and Coordinator of Sustainable Development Partnerships and Humanitarian Response, Dr. Mairo Mandara, identified agriculture, livestock, energy, housing, hospitality and services as major investment opportunities.
She said Borno had the potential to become a major producer of beans and other agricultural commodities, adding that its population of over seven million, electricity supply and access to a Lake Chad regional market of more than 50 million people offered significant investment opportunities.
Mandara also highlighted the approved Africa Freight Trade Zone in Banki, the dry port and livestock export opportunities, particularly to Arab countries. She stressed the need for local processing and value addition rather than exporting raw materials.
She added that the state’s 25-year Recovery and Development Plan, which has guided its budgeting process for the past five years, was being translated into law to ensure policy continuity and protect investments.
The roundtable attracted investors from Kano and other neighbouring states.
Editing By Safiyah Abdulkadir
