HomeAnalysis$2.6bn investment: Don says Kaduna is becoming an investment haven

$2.6bn investment: Don says Kaduna is becoming an investment haven

A University Don, Dr Peter Adamu, on Tuesday said Kaduna State was becoming an investment haven following the $2.6 billion investment recorded between January and March 2020.

Adamu, an Economics lecturer at the Kaduna State University, said this in Kaduna.

While reacting to the 2.6 billion dollar investments recorded in the state between January and March 2020, Adamu said the state was now one the most preferred investment destinations in the country.

It was reported that the National Investment Promotion Council (NIPC) had in a report indicated that 4.8 billion dollars worth of investments were recorded in the country in the first quarter of 2020.

Out of the amount, Kaduna state attracted 2.61 billion dollars, representing 54 per cent of the total investment, while Nasarawa and Lagos states trailed behind with one per cent each.

Other states of the federation pooled the remaining 44 per cent.

Adamu described the feat as a โ€œmilestoneโ€ saying, โ€œKaduna state was fast becoming the most preferred business destination in the country.

โ€œYou can see from the NIPC report, Kaduna state attracted more than 50 per cent of the total investment in the country with states like Lagos trailing behind with just one per cent.

โ€œThis is impressive achievement and very commendable.โ€

Adamu attributed the exploit to the stateโ€™s efforts on ease of doing business, access to information, infrastructural development, transparency and accountability.

He said that the appointment of former Emir of Kano, Muhammad Sanusi, as board member of Kaduna Investment Promotion Agency, equally played a role in strengthening the confidence of investors.

โ€œKaduna state has over 40,000 square kilometer land mass, easily accessible for companies to build their factories and businesses and availability of solid minerals and transportation networks among others,โ€ he added.

The economist said that this development meant more revenue to the state that would go into infrastructural development and more job opportunities for unemployed youths in the state.

He added that the increasing investment profile would equally attract more investors and make the state an investment model in the country.

It was reported that the investors were 328 Support Services GmbH, a transport company from the U.S, a mining and quarrying company, African Industrial Group, and Tomato Jos, a manufacturing company.

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