Kaduna attracts $800m investments in 5 years – El-Rufai

Governor Nasir el-Rufai of Kaduna State has said the state attracted $800 million of domestic and foreign investment since 2015.

Speaking at the fifth edition of the Kaduna Economic and Investment Summit (KADInvest), which held virtually, he said investors have pledged a further $2.1 billion investment state.

“KADINVEST 1.0 attracted 25 businesses and local as well as foreign investments worth $500 million, it also facilitated investments through the creation of a one-stop-shop and operationalising the ease of doing business charter, to break down barriers to investments and expansion of the fiscal space.”

He noted that the second

for the edition of the summit, KADINVEST 2.0, witnessed the launching of the Kaduna State Development Plan (SDP) and Sector Implementation Plan (SIP) as a vehicle to achieving SDP through an annual budgeting framework.

“The Ease of Doing Business Charter, Bus Rapid Transit (BRT) system, the Eyes and Ears Citizens Engagement platform were all launched at KADINVEST 2.0.

“A three-year Memorandum of Understand (MoU) with the United States Agency for International Development (USAID), to help drive the economic development of the state was signed at the event,” he said.

The governor said the third summit focused on building human capital, adding that it attracted 79 percent Foreign Direct Investment (FDI) and 21% Domestic Investment.

In 2019, KADINVEST 4.0 focused on the operationalisation of Kaduna Industrial Plan and improvement of the investment portfolio by 300%.

President Muhammadu Buhari who was the special guest, called on the State to sustain its laudable investment efforts and surpass the impressive results already attained.