Investment: A Panacea For Economic Recovery In Katsina State

Injection and Allocation of Resources into the economy mostly in production, supply of goods and services is what propel modern economies; as every society requires a sustainable investment to growth, development and well being of its people.

Rapid population growth, strategic organizations and high urbanization are key features of the sub national economy of Katsina, making all the need for comprehensive and sustainable infrastructural development in education, cities and agriculture to solve the daunting problems of poverty, restiveness, insecurity and creation of a productive society.

Katsina State, under the leadership of Rt. Hon. Aminu Bello Masari from assumption of office in 2015 inherited a state fraught with dysfunctional infrastructure, dilapidated schools, hospitals, water facilities, and comatose agricultural system amongst others.

From inception, the Masari Administration was handed over the daunting tumor of Katsina being the second poorest state in the country despite it’s legendary position in Agriculture and Education

The lingering question had always been “how do we get out of this myriad of problems (poverty, unemployment etc.)?” Which by extention prone the state to threats of insecurities amoung other inimical anti social vicesy “what modalities do we set to ameliorate the existing socio-economic challenges?”.

The Government response so far, has been the “RESTORATION AGENDA” i.e according priority to “agriculture and education with emphasis on repositioning, revamping and modernizing the entire sectors”.

Hence; agriculture produces raw materials, education produces productive persons or man power to manufacture the raw produce, as well an informed society devoid of deviant and anti social vices; what became the challenge then was “how do we process the raw materials and make agriculture a source of gaining employment to the teaming population of Katsina”?

Investment and Investors in these all important sectors remains the only “panacea”.

Masari began the project of investment in Katsina with immense strength and speed, through the much popularized Katsina Economic and Investment Summit which was launched in 2016.

Masari was able to sustained the undeniable and uncontestable successes in not only targeting the key issues and factors bedevilling the development of Katsina, revolving around untapped solid mineral resources in the state’s fertile agricultural lands and large youthful population but also possible solutions were derived after recognizing the increasing level of poverty and the expanding variety of its profiles, especially as symbolized by gender inequity and unmet youth aspirations. Some of the strategies deviced have already been set in motion through the aid of prominent target star investors such as Alh. Aliko Dangote, Dahiru Bara’u Mangal amongst others.

The submit was held with targeted special guests of honor, the President of the Federation in order to derive maximum benefits associated with President’s Economic Policy thrust on diversifying the economy from its mono-cultural nature on oil, because as most other states of the Federation, Katsina State has the natural benevolence of resources for industrial development, prominent among which is the Agricultural Resources with broad value chain.

Over the years, the state have evolved supporting mechanisms for industrial development in the form of incentives which made the state ranked first in the ease of doing Bussiness these incentives are but not limited to:

a) Support of Micro, Small and Medium Enterprises (MSMEs) in terms of capacity building and credit advance;

b) Provision of industrial infrastructure including access roads, energy, commercial and industrial layouts and parks;

c) Minimized account charged on consent to mortgage land;

d) Granting of Certificate of occupancy for industrial purposes within 30 days;

e) Tax holiday for new industries;

f) Patronage by the Government and it’s agencies by purchasing products of some companies operating in the state.

Some vital conclusions were arrived at the summit after careful deliberations and exhaustive consultations considering the huge and unique opportunities the submit has opened up to the Government and the people of Katsina state.

These factors were implemented as some of the basic strategies in taking cognizance of the fact that if matters were not addressed as urgently as possible, the
momentum created could easily be petted out.

In relation to the attained outcome of the submit, some of the targeted star investors have given immediate response in relation to the devised strategies to aid Katsina State’s development. Alh. Aliko Dangote was recently leased Shongai farm which has 10,000 hectare of land at the rate of N500 million for agricultural activites.

The shongai farm is also to be used as International Agricultural Research Centre which is aimed at exposing the state to the global advancement in relation to agro business Activities .

The state will reap an immense benefits in this collaboration which ranges from job creation to food security and it’s sufficiency, also would cushions the effect of degrading development in State.

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