• Woos investors on opportunities
Gombe State has unveiled plans to raise about N30 billion from the capital market to invest in major infrastructural projects aimed at fostering sustainable development.
The state has also launched a strategic private-public partnership drive to encourage private investments in key sectors of the state economy.
Governor of Gombe State, Alhaji Inuwa Yahaya, yesterday outlined the state’s economic development blueprint at interactive sessions with capital market stakeholders and strategic investors at the Nigerian Exchange (NGX) in Lagos.
Yahaya, who doubles as the Chairman of Northern Governors Forum, was honoured with beating the closing gong for the stock market.
He said the state plans to raise about N30 billion through issuance of green bond while also exploring additional opportunities including Sukuk issuance.
According to him, the green bond is aimed at raising funds for eco-friendly and environmentally friendly investments, especially in assets that will contribute to restoration and upliftment of human life so that the state can reduce the impact of climate change and global warming.
He said the state was building on its hugely successful private investment campaign, known as GoInvest 1.0, launched in 2022, with the roll out of GoInvest 2.0, which holds several investment opportunities for investors.
“With the support we saw and the acceptance by the Nigerian capital market stakeholders, we are going to hit our target,” Yahaya said.
He said the capital market is the ideal place for the governments and private sector to pool funds for development, assuring that Gombe State will continue to engage the market as strategic partner in its development programme.
He outlined that the state has several competitive advantages for investors including being one of Nigeria’s most diverse and peaceful states, home to several multinationals, access to international markets, abundant natural resources, central location within the northeastern region, low risk investment environment, skilled, young and available workforce, clear and large market potential for different goods and services and as a veritable emerging market.
He pointed out that Gombe State has been ranked as the best state in Nigeria in the area of Ease of Doing Business (EoDB) for two consecutive years. It was ranked fifth out of 36 states under the fiscal transparency and integrity index. The index tracked accessibility, open budget, public procurement, human resources, anti-corruption and citizens’ engagement.
According to him, Gombe State presents several investment opportunities including tomatoes value chain and livestock.
He pointed out that the state has the largest grazing reserve in Nigeria with 146,000 hectares of land, comprising six veterinary clinics, milk collection centre and modern abattoir and 16 boreholes.
He said the government’s commitment to maintaining peace and fostering a business friendly environment has been a key factor in ensuring the state’s security and attractiveness to investors.
Chairman, Nigerian Exchange Group (NGX Group) Plc, Dr. Umaru Kwairanga said that Nigeria is one of the best investment destinations globally as it is blessed with abundant human and natural resources.
“We have vast lands for agriculture and food production, almost every kind of mineral resources that you can think of, and a large hardworking populace,” Kwairanga said.
He commended the visionary leadership of Yahaya, noting that with a leader like him and an investor friendly President Bola Tinubu, the dream of inclusive development will become more realistic.
He said the next growth engine of the world is Africa and this is going to be led by Nigeria.
Managing Director, Backbone Connectivity Network Nigeria, Ibrahim Dikko, said the company was investing in Gombe State because of the huge potential of the state.
“We have just signed an agreement with the Gombe State Government to position the state as a technology hub for North East Nigeria,” Dikko said.
