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Highlighting investment opportunities in Sokoto State

26/05/2015
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Highlighting investment opportunities in Sokoto State

by Admin
26/05/2015
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Sokoto State was carved out of the then North Western State on Feb. 3, 1976 by the administration of Gen. Murtala Mohammed.

The state currently has an estimated population of over 4.4 million inhabitants, spread across 23 local government areas.

Sokoto State is endowed with vast mineral, water, human and agricultural resources, among others, and observers say that although some of these resources have been exploited, others remain largely latent.

In the field of agriculture, the state’s agricultural resources are quite enormous, as the flood plains of the Sokoto Rima River, which contain rich alluvial soil, are very suitable for sustained crop cultivation.

Agriculturists insist that this factor, among other attributes, have somewhat given Sokoto State a comparative advantage over other states when it comes to the cultivation of various crops all year round.

In essence, farmers in the state are able to engage in sustained dry and rainy season crop growing.

The state’s Commissioner for Agriculture, Alhaji Arzika Tureta, says that the state government has done a lot to encourage sustainable food production in the state.

According to him, this is done through the execution of pragmatic agricultural policies and programmes.

He says that such policies and programmes include the provision of soft loans, farm implements, farm inputs and several other incentives to small and large scale farmers, adding that this has impacted positively on the farmers’ yields.

Also speaking, Alhaji Abubakar Tambuwal, the Chairman of the state chapter of the Agriculture and Allied Workers’ Union of Nigeria (AAEUN), says that the state is richly endowed with agricultural resources.

Saying that Sokoto State can easily become the country’s investors’ hub, particularly in the area of agriculture, Tambuwal stresses that the state has vast arable lands which can facilitate the cultivation of assorted crops.

He says that the state can produce, in commercial quantities, rice, garlic, beans, onion, wheat, millet, guinea corn, sugarcane, pepper, vegetables, cassava, tomatoes and a host of other crops.

Besides, Tambuwal notes that the state is vastly endowed with water resources, citing Goronyo Dam, one of the largest dams in the country, as well as Shagari and Lugu Dams as instances.

“The full potential of Goronyo Dam has yet to be fully explored and exploited. The dam is suitable for irrigation farming, fisheries, water supply and tourism as well as hydro-power production. For now, it is used for small-scale irrigation activities, fisheries and water supply.

“Goronyo and Shagari dams, if fully developed and utilised, can attract a lot of local and foreign investors, and this will help in bolstering food production, curbing unemployment, reducing rural-urban migration, ensuring food security and reducing capital flight,” he says.

Beyond that, Sokoto State also has abundant solid minerals which have yet to be fully harnessed. Observers say that this is another area where local or foreign investors can invest their capital and garner appreciable profits.

The state government is quite aware of the economic potential of the solid minerals sector, as it has created a specific ministry that is dedicated to the development and exploitation of solid minerals in the state.

Dr Abubakar Nababa Umar, the Permanent Secretary in the Ministry of Solid Minerals Development, says that the mandate of the ministry is to fully explore, exploit and harness the abundant mineral resources of the state, so as to boost its revenue generation efforts.

He lists some of the solid mineral deposits in the state as iron ore, rutile, pyrite, granite, gabbro, phosphate rocks, gold, wolframite, manganese, copper, sandstone, limestone, quarts, silca sand, clay, kaolin, gypsum, potash and salt lakes, among others.

Umar says that efforts are being made to exploit these solid mineral resources via Public-Private Partnership (PPP) arrangements.

He, however, concedes that several firms such as Premier Cement Company of Northern Nigeria (Sokoto Cement), as well as fertiliser, ceramics and foam making industries are already operating in the state.

Umar says that another cement manufacturing firm, located in Kware, headquarters of Kware Local Government Area, is under construction through the PPP system.

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He claims that the state government has since provided a free land and an equity share of N500 million (20 per cent) for the company, adding that a German firm, BrewTech Ltd. is its technical partners in the project.

In a nutshell, Alhaji Aliyu Achida, the state’s Commissioner for Commerce and Tourism, insists that Sokoto State remains the most peaceful and secured state in the country, saying that this is the most important prerequisite for any investments — local or foreign.

He says that the state government has provided a lot of incentives to potential investors, while industrial estates have been developed across the Sokoto metropolis.

He adds that the state also motivates investors through equity participation in their firms.

On tourism, the commissioner says that Goronyo, Lugu and Shagari dams and several other earth dams can be used for tourism activities, adding, however, that the annual Romo Fishing Festival takes place on Romo Lake in Tambuwal Local Government Area.

Achida says that the state has some historical sites, particularly in Binji Local Government Area, adding if fully developed, these sites can become veritable tourist destinations.

Similarly, Alhaji Isa Bajini, the state’s Commissioner for Budget and Economic Planning, says that the state is full of investment opportunities, assuring potential investors of significant returns on their investments.

“Gov. Aliyu Wamakko has provided an enabling environment for all investments, local or foreign, to thrive to the fullest. This is being done through the religious implementation of sound and plausible policies and programmes,” he adds.

All in all, analysts underscore the need for investors to take due advantage of the myriad investment opportunities existing in the state. (NANFeatures)

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