KADINVEST 6.0: Kaduna seeks to consolidate on $2.6bn investments

As it prepares for the sixth edition of the annual Kaduna Economic and Investment Summit (KADINVEST) holding this month, the Kaduna State Government is seeking to consolidate on the USD 2.6bn in investments it has attracted since 2016.

Executive Secretary of Kaduna Investment Promotion Agency(KADIPA) Umma Aboki disclosed this while speaking at a pre-event press conference on Wednesday, said that the 6th edition of the summit will hold from 23 to 24 September 23 to 24 with the theme, Towards a sustainable knowledge-based economy.

“Kaduna believes that private investment is the best vehicle for job creation, and it is eager to bring together the private sector, international development partners and development finance institutions to identify opportunities in the state and take the investment initiatives that create growth,’’ she added.

Umma Aboki said the short term goal of the summit is “delivering on job creation, inclusive economic growth, social-economic transformation and improvement in quality of life through higher productivity and competitiveness. ‘’

According to her, the long–term goal includes ‘’investment in public-private partnerships, agro-allied industries, railways, road transport, hospitality and retail.

The Executive Secretary disclosed that this year’s event ‘’ will again showcase and promote Kaduna State to domestic and international spectators as a major investment destination in Africa including the tourist attractions across the state.’’

“Unlike the previous editions though, this year’s edition will feature a hybrid event, with attendance being both physical and virtual. Either way, participants are expected to register first via the KADINVEST website: https://kadinvest.org/register/ ’’, she added.

Justifying why this year’s theme was selected, Umma said that ‘’in an era where information is key, building one’s economy with knowledge as a backbone is the best way towards achieving a responsive, innovative and resilient economy, especially after the global exploits of COVID-19.’’

According to her, the discussions of the summit will focus and revolve around four identified plenaries, “COVID-19 and Digitization: Building an Ecosystem for Kaduna MSME e-Commerce”. Hajiya Umma said that other themes are “AfCFTA: Opportunities transforming the Agricultural Sector of Kaduna State”, “The Role of Data in Investments” Plenary and “The Role of Donor Agencies”.

“A learning economy is an ever changing and innovative one, which boosts economic flexibility and adaptability, especially in these turbulent times. Furthermore, knowledge has become a critical requirement for enhancing competitiveness of Countries, Business and Individuals in the twenty first century.”

The Executive Secretary disclosed that Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo GCON, will be the Special Guest.

“Two distinguished personalities will be the keynote speakers at the summit and they are Professor Celestin Monga, a visiting professor of Public Policy at Harvard’s Kennedy School of Government and President of African Export-Import Bank, Dr Benedict Okey Oramah,’’ she added.

Hajiya Umma recalled that the five previous editions of KADINVEST have brought about various developmental aspects the State is currently experiencing and benefitting from.

She listed the benefits to include improvement in Internally Generated Revenue(IGR), Kaduna state becoming number one state in Ease of Doing Business, active investors interest and industrialization of the state.

The Executive Secretary added that the massive infrastructural development, promotion of public-private partnerships and privatization as some of the benefits that the state has derived from past editions of the summit.

The Dangote Peugeot Automobile Nigeria(DPAN) Limited and Tomato Jos Factory will be commissioned during the two-day event, so is the signing of Mutual Accountability Framework with Development Partners, she added.

According to Hajiya Umma, the Galaxy Mall and Kasuwan Magani market will also be commissioned and Governor Nasir El Rufai will launch of Kaduna State’s Tourism Catalogue.