NIGERIA - Diplomacy
Alhaji Isyaku Umar Tofa obtained his bachelor’s degree in economics from Ahmadu Bello University and his master’s degree in public administration from the University of Pittsburgh in the US. He was awarded an honorary doctorate in public administration from Nnamdi Azikiwe University, Akwa, in 2008. He has been the Managing Director of Tofa General Enterprises Ltd since 1979. He started his career with UAC of Nigeria and was later employed by the Kano State Government, where he held various roles. He has also served as the chairman, director, and non-executive director of financial institutions including Equity Bank Nigeria, Intercontinental Securities Limited, Equity Indemnity Insurance Limited, Ecobank, new Africa Merchant Bank Limited, and Intercontinental Bank Plc, among others.
KANINVEST has focused on the role of attracting investment into Kano State. Since its inception in 2016, it has attracted foreign investment in the areas of energy, textile, and solid minerals. In the area of energy, an agreement for the production of 100MW of electricity each has been signed with three companies from the US, Spain, and China. An investment of about USD600 million has been made by Chinese company Rvi Group for a textile industrial park in the state. KANINVEST has also attracted some domestic investors in the area of agro-allied industry and chemicals.
Kano State is not endowed with hydrocarbon resources and does not receive revenue from hydrocarbons. This is truly an exception considering the dominance of hydrocarbons in the drive of revenue in Nigeria. KANINVEST is therefore focusing on areas that Kano State has comparative advantages in. In the coming years, KANINVEST will concentrate on attracting global and international investors in the areas of solid minerals, agriculture- and agro-based industries, and large-scale manufacturing due to the huge market in Kano State. We are also making an effort to attract international investors in the energy sector. Furthermore, there are many closed industries in Kano that we are looking at for international investors to acquire and revive for the benefit of the state economy.
KANINVEST is assisting the Kano state government in sourcing PPP partners in the areas of housing, market development, and other areas that have significant impact on the economy of Kano State. The construction of an ultra-modern market in Kano is being undertaken under a PPP arrangement with Brains & Hammers Company, a Nigerian company involved in the construction of mass housing project in Abuja and Dubai. The development of the market has already reached advanced stages of construction. There are also proposals under consideration for mass housing program under a PPP arrangement. A modern abattoir is also to be constructed by an Egyptian company under a PPP arrangement. There is also a proposal for the production of electricity from waste under the same PPP arrangement, and this is receiving the consideration of the state government.
The main message to the global investor community is to come to Kano and invest. There are vast areas of opportunity for investment, and the Kano state government is willing to provide free land to any investor who comes to Kano to invest. KANINVEST is also prepared to assist the investor with any issues relating to getting federal or state government approvals. KANINVEST has a dedicated website that provides investors with all the information they need to invest in Kano. On certain occasions, KANINVEST has arranged international tours and roadshows to attract investors. Likewise, investors are encouraged and invited to visit Kano to see for themselves the opportunities available. Both the Executive Governor of Kano State and His Highness the Emir of Kano undertake trips to different parts of the world in order to attract investment to Kano. KANINVEST has also printed a special brochure for distribution by all agencies of Kano State that give potential investors a comprehensive run-down of the opportunities for investment.
In 2019, KANINVEST will work to ensure the actualization of all previous agreements as well as engaging in other new proposals regarding investment in Kano State. œ–
NIGERIA - Energy & Mining
Group Managing Director, Eraskorp Nigeria Limited
By sponsoring our events you are able to best participate in the discussions that matter to you, as well as gain unique networking opportunities.