My administration will partner state governments in revamping economy – Buhari

President Muhammadu Buhari says his administration is ready to partner sub-national entities that have workable strategy for economic development.

In doing this, the Federal Government will specially be working with state governors that have appropriate policies and programmes in place in securing the future generation of Nigerians, who, according to him, are entitled to a prosperous heritage.

The President, who made this disclosure on Tuesday, while delivering an opening address at the ongoing Katsina State Investment and Economic Summit, also want the private sector to be more active in the ongoing efforts to revamp the nation’s ailing economy.

He stated that the gravity of challenges, nation is currently grappling with, was so huge, as such the Federal Government alone cannot deliver on all the expectations of the people, calling for collaboration from stakeholders.

“Federal Government will continue to partner with any state government that shows incentive under a workable strategy, such as demonstrated by the Katsina State government.

“The private sector should be the engineer of economic growth. It should be the largest investor in the economy. It should be the quickest, and the most efficient and sustainable in the industrialisation.

“At the same time, the state government must seat closely with the private sector, each bringing to the table their competencies, and success to be achieved” the president noted.

He commended the Katsina State government for leading the pack by assembling critical stakeholders, from within and outside the country, which is an indication that the state is ready to open it door to serious activities.

“Katsina state government has shown the way by assembling the brightest private players in the economy, and business world, as brought in supporting players in form of development partners.

“I earlier promised that I will bring all resources together to end poverty and corruption, increase economic growth and employment creation. It is on this premise that Katsina State has taken a bold step to assembly these critical stakeholders.

“Employment is the quickest way to escape poverty and there is the need to galvanized our natural endowments that will in turn attract investors, where the government creates a conducive atmosphere for them to come out and invest in the country,” he added.

In his address to the occasion, the governor of Katsina State, Aminu Bello Masari, said that the blueprint of his administration, with a rolling plan from 2016 to 2020 will entail a comprehensive strategic plan for each sector of the economy with clear details of policy trust, objective, and targets.

The governor put the monetary cost of the implementation of the plan at N69.752 billion, describing it as a huge task ahead, with the promise to deliver and achieve his dream of an industrial giant.

He also rolls out incentives which investors who invest in the state will enjoy, such as, provision of plots in industrial areas, provision basic infrastructural facilities, five year tax holiday for new industries, as well as approval for processing of C of O for industrial within 30 days.

Also, addressing the occasion, Okechukwu Enelemah, commended the Katsina State government for organising the Summit geared towards re- positioning the state economically, as well as developing it industrially.

“In this regard, the administration of President Muhammadu Buhari has started the difficult but rewarding task of breaking free from our traditional dependence on oil to the non oil sector through diversification of the export base and domestic production.

“However, unlocking Nigeria’s Investment and economic potentials will require the strategic collaboration of both the public and private sectors to achieve the desired development,” he said.