Kaduna facilitated N704b worth of investment in 2021–KADIPA

The Kaduna State government says it has facilitated investments both actualized and pledged worth over 1.6 billion dollars (N704bn) in the past year.

The Executive Secretary of the Kaduna State Investment Promotion Agency (KADIPA), Khalil Nur Khalil while addressing the 2022 agency press briefing yesterday in Kaduna said the state government has handed over sites to 35 investors and counting in various locations across the state.

He noted that some investors have already mobilized to the site.

According to him, “Our efforts have been fruitful, in the past year alone, we facilitated investments both actualized and pledged worth over $1.6 billion and we handed over sites to 35 investors and counting in Kubau LGA, the Kangimi Layout, GAAIZ/SAPZ, Rabah Link Road and the Afaka layout of which some have mobilized to site.

He then disclosed that the KADIPA board which is spearheaded by the states deputy governor, Dr. Hadiza Sabuwa Balarabe, approved the Key Performance Indicators for Management to pursue for the year 2022, mainly to increase the State’s investment portfolio by $500 million.

Other indicators according to him include, “To track the creation of 10,000 jobs, the generation of about $10 million in Internally Generated Revenue (IGR) and to remain No. 1 on the Ease of Doing Business Rankings.”

The KADIPA management he said surpassed its set target for 2022 of expansion of the investment portfolio to $500 million worth of investment in the First Quarter of 2022 by $1.1 billion and the board increased the investment portfolio target to $1 billion instead for the year, and $500 million in actualized investments. 

“Furthermore, KADIPA in one year has assisted the state in generating revenues of about N800 million ($1.1 million) through payments of premiums by greenfield investors that have been allocated land and brownfield investments via payments received from the privatization of state owned assets with 24,380 proposed jobs to be created.