The Kano State Government has officially launched a comprehensive five-year investment strategy aimed at attracting both local and international investors to the region. This initiative, unveiled through a statement from the governor’s office, is designed to enhance the state’s economy by funneling investments into crucial sectors such as energy, agriculture, health, education, and transportation.
Muhammad Naziru Halliru, the Director-General of the Kano State Investment Promotion Agency (Kan-Invest), highlighted this new direction during a media briefing in Kano. He emphasized the importance of creating a favorable business environment that encourages investment, positioning Kano as the commercial heart of Northern Nigeria.
Halliru mentioned that a formal ceremony will debut the strategic plans approved by Governor Abba Yusuf, aimed at engaging local investors in various sectors. He pointed out the untapped potential within Kano, stating that local investors could provide significant contributions, especially in power generation.
The agency aims to mobilize local entrepreneurs beyond conventional investments like retail outlets. Halliru acknowledged that the lack of sufficient support and a conducive legal framework under the previous administration impeded investor confidence.
The current government is committed to rectifying this by establishing a robust framework that meets global standards, with plans for a significant launch event in the coming months. Halliru shared the positive results of the governor’s investment initiatives, noting an influx of investment proposals, particularly in solar energy, with some investors proposing amounts exceeding $500 million.
Ongoing discussions are taking place with foreign investors from the UK, China, the US, and India, all expressing renewed interest that declined during the previous administration due to inadequate investment incentives. Halliru affirmed that the new administration is poised to transform Kano’s economic landscape through both domestic and foreign investments, promising substantial economic growth for the residents of Kano State.
