In this interview, Jibrilla Mohammed, managing director of Kano State Investment Limited, spoke on the investment potentials available in the state. He also spoke about the development strides of the Abdullahi Umar Ganduje administration and its commitment to improving the well being of the people. Excerpts:
What actually are the mission and vision of Kano State investment Limited?
Thank you very much. This company was established in 1971 to do three things, one is to invest in quoted companies, so that it can generate revenue for the state, and take care of the properties of the state government either in Kano or outside the state. Second is to encourage the participation of the indigenes of Kano State in the establishment of small scale industries, but most importantly too is to advertise the potential of the state in and outside the country and by so doing bringing out the quality potential of the state.
But in 2008, the word “properties” was added so we now have the licence to participate in property development and we are also involved in capital market and the establishment of small scale industries.
How far has the organisation gone in attracting both foreign and local investors to the state since you assumed office?
You see, attracting investors into Kano State is not just the sole responsibility of the Kano State Investment Limited, it is also the responsibility of the state government but you see investment can be derived due mainly on the availability of so many things like power, good roads, infrastructure and well-structured transport system like the railway, peace and a conducive environment to attract investors whether local or foreign, so I quarrel with people who don’t understand our problems in attracting investors not only in Kano State but as a nation; besides there is no conducive environment to attract investors especially foreign ones, but that notwithstanding; here in Kano State what we are trying to do is to first of all look inward to encourage investors to invest in property, infrastructure, and small scale industries. And by so doing there are possibilities of attracting foreign investors.
And the second thing we are doing is to look at the investable areas in Kano State, like solid minerals, and these are things we are enlightening people about in making sure that they know that these things are available. Besides, government has also promised to give free land to investors, tax waivers and a very good conducive environment for investors to come into Kano State to do their business with peace of mind.
But how far have you gone in providing the necessary tools, especially property, to attract both foreign and local investors?
You see, property-wise, I think there are very few states in the country that have done what Kano State has done. The state has created three brand new cities with a population of over five hundred thousand (500,000) people and they are all around the municipality.
And in terms of factories or infrastructure, the current government has just signed a memorandum of understanding (MoU) with the Chinese government to develop a light rail in Kano in major links from Hadija to Bata and Zaria road to Bata. And also, the government has given contracts to rehabilitate so many major roads and streets in Kano State in order to make life more meaningful for all in the state. The state government has also completed the construction of three major hospitals in the state which were started by the past administration and this is also in order to make sure that the state is a cosmopolitan city for potential investors. So, the governor should be commended for his foresight.
You spoke about developing small scale industries and investors. What has the government done to achieve that?
First of all you have to encourage people that these raw materials are available and it can be tapped and they are profitable. And we have had about three to four seminars, even in conjunction with Kano State Chambers of Commerce and Industry, to educate our people that these things are available. And the first thing we do if the governor approves is to let them know that these things are available and they can come into partnership with foreign investors and we are working with Kano State Chamber of Commerce to make sure that these things come to fruition.
What should the people of Kano State expect from the State Investment Limited in the next few years from now?
You see, we are lucky for one thing because our governor is passionate about serving the people of Kano State. The governor is working day in, day out and very assiduously in making sure that he improves the quality of life of the people of Kano State. He is married to the wellbeing of the people of this state where we have built two bedroom flats at affordable price of N2.8 million only, so that it can go round.
Secondly, we are going to make sure that we involve the youth in comfortable trades where one youth from every polling unit in the state receive the sum of N100, 000 only and no interest attached which will be paid after two years. Each of those youths that receive the loan must employ one or two persons at the end of each year to ensure that the business is sustained.
