Gombe gov woos investors as state plans to raise N30bn bond

At the Nigerian Exchange Limited (NGX) on Wednesday, the governor of Gombe State, Inuwa Yahaya urged investors to invest in the State’s agricultural and infrastructural development, just as he revealed plans by the state government to raise N30 billion green bond in advancing it’s economy.

Speaking during the closing gong ceremony on the floor of the NGX, Governor Yahaya explained that the State intends to raise N30 billion with the issuance of green bonds to finance projects in the state while noting that Gombe state, having been ranked number one, and two years in a row, by the survey of the Ease of Doing Business (EoDB) in Nigeria is a good place to invest.

He added that Gombe State was ranked fifth out of 36 States on the following index assessed: accessibility, open budget, public procurement, human resources, anti-corruption and citizen engagement.

He also added that Gombe presents investment opportunities across the tomato value chain, saying that the livestock sector in Gombe State remains a hidden opportunity waiting to be harnessed and the State has the Largest Grazing Reserve in Nigeria with 146,000 Ha of Land, comprising of six Veterinary Clinics, Milk Collection Centre and Modern Abattoir and 16 Boreholes.

He said the government’s commitment to maintaining peace and fostering a business friendly environment has been a key factor in ensuring the State’s security and attractiveness to investors.

“In the year 2022, we unveiled Golnvest 1.0 as a tangible realisation of our commitment to fostering a conducive business environment within the state.

“This project was undertaken with the purpose of showing our recognition of private sector investments as a strong catalyst for both employment generation and the augmentation of Internally Generated Revenue (IGR), thereby contributing significantly to the overall advancement of the state’s developmental objectives.”

He noted that the Green Bond is an initiative aimed at raising funds in order to finance eco-friendly and environmentally friendly investments, especially in assets that will contribute to the restoration and upliftment of human life so that we can reduce the impact of climate change and global warming.

He, therefore, expressed optimism that the proposed green bond would be a success. “With the support we saw and the acceptance of the Nigerian capital market stakeholders, we are going to hit our target,” he said while adding that the capital market is the ideal place for any investor, either government, public or private sector to pull funds for development.

The chairman of Nigerian Exchange (NGX) Group Plc, Dr Umaru Kwairanga said that Nigeria is one of the best investment destinations globally, it is blessed with abundant human and natural resources.

“We have vast lands for agriculture and food production, almost every kind of mineral resource that you can think of, and a large hardworking populace.

He noted that the next growth engine of the world is Africa and is going to be led by Nigeria Managing director/CEO – Backbone Connectivity Nigeria, Ibrahim Dikko and an investor in the state stated “We just signed an agreement with the Gombe State government to position the State as a technology hub for North East Nigeria.”