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• As Oxford Business Group launches first-time analysis of State’s investment opportunities
A new report by the global research and advisory firm, Oxford Business Group (OBG), has provided insights into how Kaduna State, Nigeria raked in a whopping $2.61billion in Foreign Direct Investment (FDI) just within the first half of 2020, thus making it Nigeria’s top investment destination.
The report produced in partnership with the Kaduna Investment Promotion Agency (KADIPA) has just been released at the ongoing 5th edition of the Kaduna Economic and Investment Summit KADINVEST 5.0, which highlights investment opportunities emerging in the State.
KADFEST 5.0, a digital summit, which started Monday, 21 September 2020, rounds off Tuesday, 22 September.
The Report: Kaduna 2020 examines the steps taken to enhance the state’s business environment, which helped it to attract $2.61bn in FDI in the first six months of 2020, according to the Nigerian Investment Promotion Commission, making it the country’s top investment destination.
The OBG report contains detailed analysis of the sectors that are driving growth across Kaduna’s economy, including construction and real estate; and ICT.
Segments that have been identified as ripe for development, such as the agri-business component, are a particular focus. Here, OBG explores the state’s plans to further expand value-added production and processing.
With transport infrastructure as a key element of Kaduna’s development plans, the report shines a spotlight on the projects that have been completed across the state and others in the pipeline, including railways, road networks and dry ports.
The state’s response to the Covid-19 pandemic is also covered with key insights provided by the Chair of the Kaduna State Standing Committee on Covid-19 and Deputy Governor of Kaduna State, Dr. Hadiza Balarabe.
The Report: Kaduna 2020 also contains an interview with Nasir Ahmad El-Rufai, Governor of Kaduna State, in which he outlines how Kaduna’s progress in facilitating business procedures has translated to inward investment.
“Kaduna’s performance in the World Bank’s ease of doing business index has been instrumental in attracting investors. Since 2015 Kaduna has secured investments in excess of $180m,” El-Rufai told OBG.
The full interview with the Governor has also been released at the KADINVEST 5.0 digital summit and is available on OBG’s Research Terminal.
Andrew Jeffreys, OBG’s CEO, said although the twin challenges of Covid-19 and lower oil prices would inevitably weigh on growth in the immediate term, Kaduna’s resilience in the face of the pandemic bodes well for its future plans.
“Kaduna took swift and effective measures in response to the coronavirus pandemic, while key infrastructure projects continued in the first six months of the year with minimal disruption,” he said. “Looking ahead, we expect the ICT sector to expand on the back of planned investment in digital infrastructure, while a sharper focus on food security during the pandemic could lead to an increase in the production of essential food products.”
The Report: Kaduna 2020 produced with the Kaduna Investment Promotion Agency as presented during the digital KADINVEST 5.0 Summit is available online and in print.
