Sani Dutsinma
The Kebbi State Investment Promotion Agency (KIPA) says the state has secured investment commitments worth about $14 billion through Memoranda of Understanding (MoUs) signed with investors across critical sectors of the economy.
The Director-General of the agency, Dr. Kabiru Mohammed Kamba, disclosed this in Birnin Kebbi on the sidelines of the Argungu Festival inauguration, which began with an Investors’ Forum aimed at showcasing the state’s economic potential.
According to him, no fewer than 42 investors from different parts of the world, including the United States of America and the United Arab Emirates, are participating in the forum to explore business opportunities in Kebbi State.
Dr. Kamba said the prospective investments span agriculture, mining, energy and manufacturing, reflecting the state’s strategic focus on leveraging its comparative advantages, particularly in agriculture and solid minerals.
He revealed that a $4.9 billion investment proposal for iron ore exploration is currently under consideration, alongside a separate $4 billion agricultural investment project proposed for the Yauri Emirate.
The KIPA boss noted that the cumulative value of the MoUs being signed during the festival stands at about $14 billion, covering multiple sectors aligned with the state’s development priorities.
He emphasized that the investment drive is anchored on Kebbi State’s long-term development plan and is designed to stimulate economic growth, generate employment opportunities and improve the standard of living of residents.
Dr. Kamba also acknowledged the support of key partners and sponsors, including the Securities and Exchange Commission (SEC), Access Bank and other corporate organisations, for their roles in facilitating the investment initiatives.
He expressed optimism that the agreements would translate into tangible projects that would boost industrialization and position Kebbi as a competitive investment destination in Nigeria.