The Kano State Government has announced plans to unveil a comprehensive 5-year multi-sectoral investment strategic plan aimed at attracting both local and foreign investors to boost the state’s economy and generate revenue for developmental projects.
This initiative seeks to encourage substantial investments in key economic sectors, such as energy, agriculture, health, education, and transportation, according to the Director-General of the Kano State Investment Promotion Agency (Kan-Invest), Muhammad Naziru Halliru. Halliru disclosed this while addressing journalists in Kano on Wednesday.
“The plan is designed to create a business-enabling environment and attract investments that will drive economic growth in Kano, the commercial hub of Northern Nigeria,” he said.
Halliru explained that, with the approval of Governor Abba Kabir Yusuf, the state government will host a formal ceremony to launch the strategic plan. This initiative includes an enlightenment campaign targeted at local investors, encouraging them to capitalize on investment opportunities within the state.
Empowering Local Investors
Highlighting the potential of local investors, Halliru remarked, “Kano has individuals capable of investing in power generation for the entire state. Our local entrepreneurs can make significant contributions to various sectors, reducing reliance on foreign investors except where advanced technology is required.”
He noted that a lack of enabling environments and legal frameworks under the previous administration had discouraged investments. "Investors did not see the necessary attention or support from the government, which led to their reluctance. This administration is committed to changing that narrative," Halliru said.
The agency is now focused on creating awareness among local investors to explore opportunities beyond traditional ventures like building plazas or corner shops. The government is also aligning its investment environment with global standards to facilitate smooth and profitable ventures.
Foreign Interest Grows
The Director-General revealed that the governor’s proactive investment agenda has already attracted several proposals from companies eager to invest in Kano. Many are focusing on solar energy, with some proposals exceeding $500 million.
Discussions are also ongoing with foreign investors from the United Kingdom, China, the United States, India, and other countries. Halliru stated, “Some investors previously attempted to invest during the last administration but faced challenges due to the lack of a conducive environment. The current government has resolved these issues, paving the way for new opportunities.”
Governor’s Commitment
Halliru emphasized that the governor's unwavering support is driving the success of this initiative. “With the cooperation and dedication of our governor, Kano’s economy is poised for a significant boom. The people of Kano will soon witness remarkable progress, courtesy of both domestic and foreign investments,” he assured.
The strategic plan, expected to be unveiled in the coming months, is set to transform Kano into a premier destination for investment and economic development.
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