Yobe woos 50 foreign, local investors – YAPPPIP

Yobe woos 50 foreign, local investors – YAPPPIP

The Yobe State Agency for Public-Private Partnership and Investment Promotion (YAPPPIP) says it has attracted over 50 expressions of interest from local and foreign investors across economic sectors.

YAPPPIP Director-General (DG), Dr Aliyu Chikaji, (YAPPPIP) at a news conference which aimed at highlighting the agency’s achievements and plans.

According to him, the investments are in agriculture, solid minerals, manufacturing and renewable energy.

“Yobe is open for business, not just in aspiration but in practice.

“We are already at advanced stages of discussions involving site visits, due diligence and negotiations.

“We expect that before the end of this year, Yobe will witness a genuine breakthrough in investment inflows through our PPP window,” he said.

Chikaji said that upon assumption of office, the priority is to establish the institutional and regulatory frameworks required to inspire investor confidence and ensure transparency in Public-Private Partnership (PPP) transactions.

The DG said the agency developed the Yobe State PPP Policy, PPP Manual, PPP Guidelines, Fiscal Commitments and Contingent Liabilities (FCCL) Framework, Disclosure Framework and a Corporate Plan to guide its operations.

“Before an agency can credibly invite investors, it must first put its own house in order.

“These frameworks provide a documented, defensible and fiscally responsible basis for engaging the private sector while protecting the state’s resources,” he said.

Chikaji said the agency had strengthened internal capacity by organising several training programmes for its personnel in PPP transaction structuring, investment facilitation, negotiation and regulatory compliance.

The DG said YAPPPIP had equally established a network of 20 PPP Desk Officers across Ministries, Departments and Agencies (MDAs) to improve coordination and streamline investment processes.

He added that two capacity-building workshops had already been organised for the officers, with additional sessions planned.

On project development, Aliyu said the agency had shifted focus from producing investment wish lists to developing bankable projects capable of attracting private capital.

He said that transaction advisers were engaged to enhance the operations of six state-owned enterprises, namely Damaturu Modern Abattoir, Gujba Fertiliser Blending Company, Yobe Flour and Feedmills, Global Wheat Flour Mills Company, Nguru Oil Mills Company Ltd., and Nigeria Food Company Ltd.

According to him, the advisory process will determine the most suitable investment model for each enterprise, such as concession, lease, joint venture or other partnership arrangements.

Chikaji further said consultants were developing seven greenfield investment projects covering renewable energy, livestock processing, cement manufacturing, soybean processing, sesame processing, irrigation farming and water supply.

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He said the projects were being packaged to international standards expected by investors and development finance institutions.

“The work is nearing completion, and several of these enterprises have already attracted serious investor interest even before the process is concluded,” he said.

The DG said YAPPPIP had strengthened collaboration with key federal institutions, including the Nigerian Investment Promotion Commission (NIPC), Nigeria Commodity Exchange (NCX), Rural Electrification Agency (REA), Bureau of Public Enterprises (BPE), and Presidential Enabling Business Environment Council (PEBEC).

He said the partnerships were aimed at improving the state’s investment climate and facilitating access to national investment support mechanisms.

Chikaji said the agency had recently facilitated the handover of the Yobe State Hotels to Yamaji Grand Impex Ltd. following the signing of a lease agreement to revive the facility through private investment.

He added that YAPPPIP was also concluding arrangements for the concession of the Potiskum Trailer Park to Trucks Transit Park Ltd. of Lagos to improve traffic management, enhance commercial activities, create jobs and increase the state’s Internally Generated Revenue (IGR).

According to him, Yobe has also gained national recognition by ranking ninth in the Subnational Ease of Doing Business Index, reflecting ongoing reforms to improve the business environment.