The Yobe State Government has introduced 9 funding alternatives to Russian companies as a part of efforts to draw overseas funding into agriculture, power, infrastructure and different sectors of the state’s financial system.
The funding proposals embody the event of a 1,500-hectare Special Agro-Industrial Processing Zone (SAPZ) in Damaturu, rice and sesame processing crops, agricultural mechanisation and devoted energy technology capability of between 50 and 100 megawatts.
The state authorities additionally proposed partnerships involving expertise switch, tools provide, industrial collaboration and doable export-credit amenities.
The proposals had been introduced by a delegation led by the Special Adviser to Governor Mai Mala Buni on International Relations and Investment, Dr Sa’id Alkali Kori, throughout engagements with Russian enterprise pursuits in Moscow on the sidelines of the Russia-Africa Summit.
Dr Kori mentioned the proposed Damaturu SAPZ was designed to draw agro-industrial companies, improve native processing capability and create employment alternatives via the event of agricultural worth chains.
The delegation additionally held talks with Sistema Public Joint Stock Financial Corporation, a Russian funding holding firm with pursuits in telecommunications, power, agriculture, healthcare, retail and expertise.
At the assembly, the Yobe delegation introduced potential areas of funding cooperation, together with agro-industrialisation, energy technology, rural electrification, oil and fuel, water assets, irrigation, strong minerals, logistics, healthcare and schooling.
The delegation mentioned the engagement was aimed toward exploring areas of mutual curiosity, assessing commercially viable tasks and figuring out doable frameworks for technical and funding cooperation.
To entice investors, the delegation outlined proposed authorities assist measures, together with entry to land with acceptable titles, counterpart funding preparations, offtake commitments, relevant tax incentives and safety assist.
Kori mentioned the proposed preparations could be topic to project-specific negotiations and related authorized and regulatory necessities.
He mentioned the proposed 1,500-hectare Damaturu agro-industrial hub would accommodate processing and associated companies, with rice and sesame recognized as precedence commodities.
According to him, the funding would assist strengthen agricultural worth chains, cut back post-harvest losses and create alternatives for home and export commerce.
He recognized dependable electrical energy provide as a serious requirement for the proposed industrial zone, therefore the plan to discover devoted energy technology capability of between 50 and 100 megawatts.
Kori mentioned potential partnerships with Russian corporations may additionally present entry to trendy agricultural equipment, processing tools, power programs and technical experience.
Other funding alternatives introduced embody infrastructure growth, irrigation, strong minerals, healthcare, schooling and human capital growth.
Further technical and business discussions are anticipated to find out the tasks, financing preparations and implementation frameworks that would emerge from the engagements.
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