Home > Business > Kano Attracts $200m Foreign Investment, Invests N3bn In Trade

Kano Attracts $200m Foreign Investment, Invests N3bn In Trade


Kano State governor, Abdullahi Umar Ganduje has said that his administration was able to attract $200 million foreign investment and
expended over N3 billion in building shops to boost trade and business activities in the state.

Speaking during Kano Investment and Economic Summit, KIES, Governor Ganduje said the internal revenue generation (IGR) of the state
increased to a significant level and a major shift from the past administrations’ efforts.

He however disclosed that such a huge investment of N3 billion was used to build hundreds of shops in Kwari Market, the largest garment
and fabrics market across West African region.

Also Read This:  CBN Signs Currency Swap Agreement With People’s Bank Of China

Ganduje viewed investment in that market as rewarding in near future and would in turn fetch the government huge revenue enough to propel
the state to a self-sustaining entity.

Also, speaking at the occasion minister of Budget and Planning, Udoma Udo Udoma, who represented Acting President, Professor Yemi Osinbajo described the theme of the summit “Transforming the Economy Of Kano: Turning Challenges Into Opportunities,” as very apt, and captured what the federal government is trying to do.

Udoma said that the federal government inherited a collapsing economy as a result of an unchecked corruption, and the destruction of oil
pipelines by the Niger Delta militants. He thanked Governor Ganduje
for doing the right thing at the right time.

Also Read This:  Unity Bank boost agribusiness with Over N24 Billion to Farmers

The minister stated that the federal government is charting a new direction for the economy and has developed Strategic Implementation
Plan, SIP, on the back of 2016 budget of change.

Share Button

Leave a Reply

Your email address will not be published. Required fields are marked *