Private Sector Perspective and an Economic benefit of Gov. Bello's Return »

There are so many benefits of the return of the incumbent Governor Yahaya Bello to Lugard House to continue the business of governance and sustainable development of the state’s economy.

The New Direction blueprint during its inauguration in 2016, outlined a clear direction and provided defined channels of realizing the blueprint, which is a 5-point document that has guided development delivery to date. It has yielded profound dividends going by the sustained confidence in the state as the most secured in its region and the entire federation, today. The result for the state are the good numbers of foreign and local investments at the various implementation stages across the sectors. The State Economic Management Team has doubled efforts at making all the investment cooperation agreements take off to showcase the administration’s unflinching efforts. The results are available for confirmation.

Most interesting of the conversation is administration’s clear financing paradigm away from the traditional contract financing of investments. The administration adopted private sector participation (PPP) as main driver of the economy, to contribute up to 40% funding for the needed development.

It was a bad start when the government came in in 2016 we all knew but, the astute re engineering strategies of the Bello administration brought the economic foundations to a supra level unbelievably within a short while with great works still in the offing for the desired height.

Already, IGR is up and keep growing with the little effort, from the meagre 300 million monthly to what we have today above 1.3 billion, monthly.
The Bello strategy worked, it is working and it will work better on reelection.

Indeed, Kogi State in the last three years, has been going through a phenomenal process of restructuring (foundation laying done with you in this tenure), and now emerging with huge opportunities and suitable environment for foreign and local investments. An example is the record legal framework for conducting specialized Kogi-relevant economic activities. New agencies and establishments have been set up to take the bull by the horns.

Because of the restructuring, it is anticipated that the industrial, construction materials, construction machinery and equipment market, ceramics, fashion, oil and gas, solid minerals, agriculture, etc, sectors will continue to be dynamic in the coming years. According to data available from Kogi state development blueprint, Kogi State needs over 800 billion naira to close its cross sector development gap up to 2019 from 2018. So, beyond 2019, the reelected administration (by God’s grace) can project easily, its funding and development needs up to 2023. This is statistical.
Efforts delivered so far would make for Business friendly climate and competitive labor costs which will successfully, create new investments and employment opportunities. Also lots of public construction projects have been planned for improved Kogi’s infrastructure with private sector investments needed for housing acquisition, mass rail, water and road transportation. The 32 years infrastructure master plan would guide Industrialization and manufacturing with international financing opportunities for the administration’s focus for the new Kogi. The World Bank has pledged support in excess of over $300,000 for the administration’s long term infrastructure planning and investment.

Pointedly, the Bello administration has worked hard to enable Kogi’s emergence as a safe and leading economy in Nigeria today. This must be retained.

Kogi today, is open to business and looking for private investors to cooperate with state institutions or entirely own their investments. There is therefore, a compelling need for continuity.

“Private Sector Perspective and an Economic benefit of Gov. Yahaya Bello’s Return”, is a contribution from the Kogi state Bureau of Public Private Partnerships.