A group of Chinese businessmen are set to invest an initial sum of $150 million or more than N200 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 Radda assured of his administration’s unwavering support and cooperation as they prepare to invest in the said areas.
Radda, 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.
He described the group as “one of the most powerful teams of investors ever to visit Katsina,” noting that their decision to spend several days in the state demonstrated their determination to contribute to job creation, economic growth, and improved living standards for the people.
“I want to assure you that the Katsina State government is ready and willing to support you, to cooperate and partner with you, so that you can have a successful investment experience in our state.
“You will always have direct access to my office and the full backing of my administration to ensure these projects become a reality,” Radda said.
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 finalize their plans quickly and return for full-scale operations, assuring them of all the necessary government support.
He also reaffirmed his administration’s readiness to work closely with NIPC and the investors to translate commitments into tangible results.
“Katsina is open for business, and we are extending a hand of partnership to you. We look forward to seeing you return soon to begin these transformative investments,” he said.
Mr. Dong Guoping, leader of the COVEC delegation, presented the team’s assessment and investment proposals following their three-day inspection tour of the state.
Guoping 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, Director-General of the Katsina Investment Promotion Agency (KIPA), Ibrahim Jikamshi, said the delegation had earlier been taken on extensive site visits across the state.
Jikamshi identified areas visited to include agricultural lands, water bodies, dams, and markets in Jibia, Sabke, Daura, Mashi, and Ladanawa, where soils were tested and facilities inspected.
He 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.
