As a result of a three day investment summit held at the capital of Katsina state north western Nigeria, 36 local and international companies have signed Memorandum of Understanding, MoU to commence various categories of business in the state.
The Chairman of the Summit, IbrahimTukur Jikamshi made the disclosure while reading the communiqué of the Summit.
Katsina state, during the summit with the theme “Unlocking Economic and Investment Potentials for Sustainable Development showcased Agriculture, Solid Minerals, Power, Hospitality and Property Development sectors for potential investors to locking.
In order to make the signed agreements a success and more to come, the summit recommended among others that the Katsina State, needs to exploit its factor, resource and its human capital endowments, noting in particular, the need for the government to fast track titling of landed properties of the poor to enable them access badly needed productive resources.
“The Participants noted in particular, the State Government’s commendable commitment to supporting businesses wishing to acquire land and the strong assurance of delivering land title in 30 days”
The summit noted Katsina State’s large land mass and its comparative advantages in many agricultural and mineral resources and urged the State Government to strongly leverage on these to improve its public finances and the quality of life of its people,
It called for policies that protect the local industries from unfair competition from similar products from abroad as this threatens their businesses and the benefits the State accrues,
The participants recommended that Katsina should adopt the right policies in respect of its hard assets such as dams, air and land ports, forest reserves, solid minerals etc, to reap huge economic rewards in the overall interest of its people.
The Participants acknowledge Micro, Small, and Medium-Scale Enterprises (MSMEs) as catalysts for rapid growth, job creation and poverty reduction, noting that MSMEs are the easiest medium for achieving inclusive growth, which is essential for sustainable development.
The Participants recommended the Encouragement of venture capital companies and business moguls to fund MSMEs and set up the National Credit Scoring System in order to improve access to information on borrowers which will positively influence credit decisions and as well enhance the operations of credit reference bureaus.
The Participants accepted that a single geographic area that possesses the facilities to produce, process, package and sell a produce is rare.