Zulum Pledges Business-Friendly Reforms for Investors even as UN, EU, Others Lead Partners to attract Investors into Borno
Zulum Pledges Business-Friendly Reforms for Investors even as UN, EU, Others Lead Partners to attract Investors into Borno
By our correspondent
The United Nations (UN), European Union (EU), German Government and other development partners have commenced efforts to attract private investors to Borno State.
The move is aimed at creating jobs to help displaced families rebuild their livelihoods battered by almost two decades of war which has badly affected the economy of the state.
Speaking at the third Borno State Private Sector Engagement and Investment Roundtable on Thursday in Abuja, representatives of the UN, the EU, and the German Embassy in Nigeria pledged continued support for the state’s recovery through investment.
Governor Zulum’s administration actually began the initiative with a roundtable in Lagos, focusing on financing bankable projects and supporting small and medium-sized enterprises.
This was followed by a second in Kano, the commercial hub of northern Nigeria centred on agriculture, livestock, fisheries and infrastructure.
Over 50 prospective investors attended the Abuja roundtable which was actually the third in the series of round tables aimed at bringing back investors to the entire Borno state.
Representative of the UN Resident Coordinator’s Office in Nigeria, Thembekile Dube-Nanbe, encouraged partners to turn the Borno investment roundtable into action in the nearest future.
“Let us identify viable investment opportunities, mobilise capital, establish lasting partnerships, and commit to measurable results.” He stressed.
The EU Head of Human Development, Laila Ben Amor Mathieu, said the Union had stood with Borno through its most difficult years, providing humanitarian assistance and supporting stabilisation and recovery.
He noted that grants and public budgets alone will not finance recovery at the scale Borno needs adding that private capital must play its part, and the role of partners is to make that possible.
She explained that investors could support the proposed Borno State Durable Solutions Trust Fund or pursue commercially viable projects backed by incentives, including access to land, industrial hubs and tax measures.
Mathieu urged businesses to select projects for closer review, partner with local companies and create opportunities for women and young people.
She maintained that Borno is becoming a worthy investment story and the European Union is proud to be part of it.
The Head of Development Cooperation at the German Embassy, Dr Karen Jansen, commended Governor Babagana Zulum for restoring communities into their ancestral homes, rebuilding infrastructure and public services, and opening the state’s economy to investors.
She encouraged investors to sustain their commitments as the economy grows, assuring the state of Germany’s continued support as deems fit.
“Mobilising private sector investment, including through blended financing, will be essential to complement development cooperation and support Borno’s sustainable reconstruction,” Jansen posited.
…Zulum Pledges Business-Friendly Reforms for Investors
Meanwhile, Borno State Governor, Professor Babagana Zulum, has urged private investors to take advantage of business opportunities in the state, assuring them of government support and simpler administrative procedures to achieve same.
Zulum represented by his Chief of Staff, Dr Babagana Mustapha Mallumbe, said improvements in security and ongoing reforms were helping Borno move from emergency humanitarian assistance towards economic recovery.
He invited businesses to invest in commercial farming, livestock production, fisheries and manufacturing, while encouraging financial institutions to expand credit for small enterprises.
“Government’s role is to build the foundation, establish the security, and create the regulatory framework. But the private sector is the ultimate engine of wealth creation, job opportunities, and lasting prosperity,” Zulum said.
He said the Borno State Investment Promotion Agency was simplifying procedures for investors, supported by land administration reforms, fiscal incentives and public-private partnership frameworks aimed at protecting investments.
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