Nigeria’s Kaduna State is becoming a popular place for business.
In the past seven years, Kaduna State has attracted significant investments and is progressively becoming a new commercial destination of choice in Nigeria. The state has created an investment portfolio totaling around $4.3 billion so far, with investments in manufacturing, solid minerals, retail services, and agriculture. Over 100,000 direct and indirect employment opportunities have already been produced. To remove obstacles for investments and the expansion of the fiscal space, careful planning was used to create a one-stop shop and operationalize the ease of doing business.
The state was ranked first in the nation by the World Bank for business ease in 2018. It has improved dramatically since it was at the 24th spot in 2014. Nasir El-Rufai, the governor of Kaduna State, claims that the government’s central agenda is based on creating an atmosphere that will allow the private sector to drive the economy while the government creates that environment. According to him, the government’s goal was motivated by the realization that the private sector offers the quickest means of producing jobs and boosting the country’s competitiveness for its burgeoning young population.
The Government has attracted a total investment portfolio of over $4b.
In the last seven years, the Kaduna State Government has attracted a total investment portfolio worth over $4.4 billion, which consists of actualized and announced projects, and has produced 75,750 direct and indirect jobs. The journey started in 2016 when the state hosted KadInvest 1.0, its first Economic and Investment Summit, drawing 25 domestic and international investments totaling $500 million. The Kaduna Investment Promotion Agency subsequently created a framework for investment regulation to encourage Public Private Partnerships and promote investment across many sectors.
The Kaduna state government released its 2016-2020 Development Plan and SIP during KadInvest 2.0 in 2017 as tools for achieving SDGs through the yearly financial framework. Consequently, since that time, infrastructure development has been largely funded by the state’s annual budget. Among the significant investments attracted to the state in 2017 are KADICT, Olam Poultry and Feed Mill, and Millennium City Mass Housing. Additionally, a three-year MoU was inked with USAID to support state economic growth and the introduction of the Eyes and Ears Citizen Engagement Platform. Additionally, the state’s Infrastructure Master Plan was unveiled in 2018 with the help of KadInvest 3.0. (2018-2050). Through local and international investments, a total of 14+ investments have been secured.
The Oxford Business Group Kaduna Report was launched.
While placing more emphasis on developing human resources, the state received 21% domestic investment and 79% foreign direct investment, including the new flagship Dangote Peugeot Automobile Plant. The Kaduna Industrial Master Plan became operational in 2019 thanks to KadInvest 4.0, which also saw a 300 percent increase in the investment portfolio. The state entered the Industry 4.0 phase during the event, focused on creating a knowledge-driven economy and modernizing industry. Infrastructure, industrialization, and innovation were the topics of KadInvest 5.0 in 2020, which also featured Nigeria’s first Sub-National Virtual Economic and Investment Summit. It also introduced the Public Private Partnership Policy and Manual and the Kaduna Report by the Oxford Business Group.
The state increased its investment portfolio by approximately $500 million despite the COVID-19 outbreak. Through its 5-year Development Plan (2021-2025), which holds the plan showcasing where the state wishes to go by 2025, the government focused on promoting the knowledge-based economy in 2021. El-Rufai claims that the strategy includes a “tourism catalogue to actively promote our tourist destinations and investment prospects to the global market. Additionally, it has the Skills for Prosperity plan, a demand-driven talents and education program that will give youngsters the top-notch skills that businesses require. President Muhammadu Buhari praised the state for becoming the preferred investment destination in Nigeria during the most recent investment summit, which took place from October 13 to October 17.
At the Kaduna Economic and Investment Summit various projects were opened.
The 7th Kaduna Economic and Investment Summit saw the full opening of a number of projects. Falgates Foods and Rice Mill, AFEX Aggregation and Processing Center, KASTLEA Vehicle Inspection Centre, Kaduna Galaxy Mall, and COP Fertilizer Company are a few of the organizations. Others include a movie village, the Muwaffaq Estate, Nuru Siraj Estate, and Rheyno Estate housing estates, as well as the Amsco Neighbourhood Center. The new Ease of Doing Business (EoDB) Charter 2022 introduction served as the event’s capper. Additionally, the Nigeria Export Processing Zones Authority (NEPZA) designated the state’s Green Economic Zone as a Special Economic Zone with Free Trade Zone Status and an Operational License.
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If what is written in this article are what to go by then Kaduna state has done well because it will change both the economy and human capital of the state.
The kaduna governments have really achieved a great feat so far. With all these accomplishments, its of no doubt that the state is truly progressing to become a new commercial destination of choice in Nigeria.
The rigorous and meticulous way in which Kaduna helped to set up it’s state is the reason why it is becoming a new hub for trade. There is an enabling environment for business people there.
The kaduna state have done a wonderful job my improving the business and commercial of the state and providing employment for the people. It is a very good progress in the state
Good for kaduna state to fully tap into it’s potential and do more to benefit it’s people,as an hub in business where opportunities are abound for the citizenry benefits.
This is very good outcome from Kaduna state. This development is very good and important for every state.
The Kaduna Investment Promotion Agency subsequently created a framework for investment regulation to encourage Public Private Partnerships and promote investment across many sectors.
In recent years, considerable investments have been drawn to the state of Kaduna, and the state is quickly evolving into a new preferred commercial location in the country of Nigeria.
A one-stop shop and an operationalization of the ease of doing business were both created via careful planning with the intention of removing hurdles for investments and the growth of the available fiscal space.
The government’s goal was motivated by the realization that the private sector offers the quickest means of producing jobs and boosting the country’s competitiveness for its burgeoning young population.
The state government of Kaduna has done an excellent job of boosting the commercial and business sectors of the state and creating employment opportunities for the local population. This represents a significant step forward for the state.
To promote our travel locations and investment opportunities to the international market, the strategy includes a “tourism catalogue.” A demand-driven talents and education program, Skills for Prosperity, is included to equip the next generation with the superior abilities sought by the business world.
The methodical and painstaking manner in which Kaduna assisted in the establishment of its state is the reason why it is becoming a new focus for commercial activity. People that are interested in doing business there will find the environment to be supportive.
It would be beneficial for the state of Kaduna to fully tap into its potential and do more to benefit its people, as a hub in business where opportunities exist for the benefit of the citizens.
Nasir El-Rufai the governor of Kaduna state definitely has really proven what he can do through the evidence of his achievement in Kaduna state. With the massive security challenges experienced over they were still able to be ranked as the first in the nation by the World Bank for business ease in 2018.
This is indeed a great achievement by the governor of Kaduna state. I wish every other state will replicate the same.
The governments of Kaduna have really accomplished a lot up to this point, which is very impressive. Given all of these achievements, there is absolutely no room for dispute that the state is making genuine progress toward becoming a new commercial destination of choice in Nigeria.
Manufacturing, solid minerals, retail services, and agricultural assets make up the bulk of the state’s $4.3 billion investment portfolio.
During the course of the event, the state moved into the Industry 4.0 phase, which is centered on the development of a knowledge-driven economy and the modernization of industry.
Consequently, the Kaduna Investment Promotion Agency established a regulatory framework for investments in order to promote Public Private Partnerships and increase investment in a wide variety of economic fields.
The kaduna state have done a wonderful job my improving the business and commercial of the state and providing employment for the people.