Kaduna State Government has said that its investment drive and reforms, which were launched in 2015, have attracted actual investments and pledges worth over $4.3 billion in the last six years.
Executive Secretary of Kaduna Investment Promotion Agency (KADIPA), Malam Khalil Nur Khalil, stated this at a press briefing ahead of the 7th edition of the Kaduna Economic and Investment Summit (KadinVest 7.0), which will start next Thursday.
The Executive Secretary said the KADInvest, which has been an annual event since 2016, has been an important platform in Kaduna State’s investment drive.
According to him, the successful wooing of the private sector has continued even in the face of challenges like a national slowdown in economic activities, the impact of Covid-19 and serious security challenges in parts of the state.
Malam Khalil announced that KADInvest 7.0, which will hold from 13th to 15th October 2022, with the theme: “Building a Resilient Economy,” will be attended by several domestic and foreign companies.
He recalled that Kaduna State government has attracted many notable companies since 2016, including Olam Feed and Hatchery Mill, Mahindra Tractors Assembly Plant, OCP Fertilizer and Dangote Peugeot Automobiles.
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The Executive Secretary also listed the African Natural Resources and Mines Limited and Tomato Jos, an agro-processing company which produces high-quality tomato paste, as some of the companies that KADIPA has attracted to Kaduna State.
The ES noted that, “Even with the impact of the Covid-19 pandemic on the world, with economic activities slowing down considerably, Kaduna State has since 2021 managed to attract over $900 million worth of actualised investments”.
Khalil pointed out that the investments are both Domestic Direct Investment (DDI) and Foreign Direct Investments (FDIs), like Zipline, a company delivering medical supplies to hard-to-reach places using drones.
Malam Khalil recalled that KadInvest’s 2016 inaugural summit was themed ”Kaduna is Open for Business,” adding that ”the summit has continued to hold unfailingly since then, with the theme changing to reflect the progress recorded.”
The Executive Secretary disclosed that the KadInvest 7.0 ”will run for three days and will be highly interactive, consisting of a pre-summit event and main summit with presentations that will highlight Kaduna State’s progress in line with the theme.”
”The pre-summit will be the Kaduna Business Expo, which will hold on October 13th at the Kaduna Centenary Park, promises to be an immersive experience.
According to him, the main summit which is scheduled for the last day of the 3-day event on the 15th October, will be a hybrid event with both virtual and physical attendance.