A group of Chinese businessmen are set to invest an initial sum of $150 million or more than ₦200 billion in various sectors of Katsina State’s economy.
This was made known when a delegation of 25 Chinese investors under group names COVEC, were in the state to discuss with the state government on modalities to the investment procedure.
A statement by a spokesperson to the state governor, Ibrahim Mohammed, identified areas the investors would inject their resources to include the development of 2,500 hectares at Sabke Dam for maize cultivation for livestock feed; establishment of a complete fisheries value chain on 380 hectares at Dabirang Dam.
Others are the establishment of a leather processing factory, creation of an agricultural research institute focused on goat and cattle-breeding, and partnership with the state government to expand the Goat Breeding Centre at Ladanawa.
Also, the group intends to establish a solar power products assembly plant, develop an agricultural commodities commercial centre, and partner with the government to establish the Katsina State Green Economic Zone.
The statement added that the projects would require approximately 4,000 hectares of land, with an initial investment estimated at $150 million.
Speaking during the visit by the investors, Governor Dikko Raɗɗa assured of his administration’s unwavering support and cooperation as they prepare to invest in the said areas.
RaÉ—É—a, who commended the Nigerian Investment Promotion Commission, (NIPC), for facilitating the visit, commended the investors for their seriousness and for choosing the state as a viable destination for investment.
The Governor said the proposed investments would diversify the state’s economy, create thousands of jobs for young people, and significantly boost revenue generation. He called on the investors to finalise their plans quickly and return for full-scale operations, assuring them of all the necessary government support.
Raɗɗa also reaffirmed his administration’s readiness to work closely with NIPC and the investors to translate commitments into tangible results.
Leader of the COVEC delegation, Dong Guoping, presented the team’s assessment and investment proposals following their three-day inspection tour of the state. He assured of the investors’ readiness to inject resources into various sectors of the state’s economy that would be of mutual benefit to both state and investors.
Speaking, the Director-General of the Katsina Investment Promotion Agency (KIPA), Ibrahim Jiƙamshi, said the delegation had earlier been taken on extensive site visits across the state.
Jiƙamshi said the visits provided the investors with firsthand knowledge of the state’s agricultural and market potential, leading to concrete decisions on areas of immediate investment.
