Agency Sets ambitious targets to attract $1b investments, Create 2,500 Jobs

By Yagana Ali Yola 

The Adamawa Investment Promotion Agency (ADIPA) has unveiled bold targets to reposition the state as one of Nigeria’s top investment destinations. 

The agency aims to attract $1 billion in capital inflows and create at least 2,500 direct jobs in the coming years. This ambitious goal was revealed by the Executive Secretary of ADIPA,

 Halilu Halilu Hammawa Malabu, at the Stakeholder’s Sensitisation Forum on Investment Promotion held in Yola.

Malabu reaffirmed ADIPA’s vision to transform Adamawa’s abundant resources into engines of sustainable economic growth. 

The agency’s targets include attracting at least 20 new investment projects, mobilizing $1 billion in capital investments, and creating 2,500 direct jobs. 

Priority sectors for investment include agribusiness, livestock, renewable energy, solid minerals, and industrial development.

ADIPA has several ongoing initiatives to promote investment in the state. These include:

– Approval for the establishment of an Industrial Park and Free Trade Zone

– Plans for the maiden Adamawa Investment Summit

– Discussions with leading companies on setting up large-scale meat processing plants

– Signed Memoranda of Understanding with investors in solar power and electric vehicles

– Interest from investors in bio/organic fertilizer plants and an agricultural hub in Girei Local Government

– Plans to revitalize the moribund Yola International Hotel and upgrade the Yola Amusement Park to boost tourism

The state government has implemented reforms to ease business processes, including streamlined land administration, electronic archiving of Certificates of Occupancy, removal of Right-of-Way fees, and frameworks for responsible land-intensive agriculture. 

These reforms aim to create a conducive business environment and attract investors to the state.

Malabu underscored the crucial role of local governments in showcasing opportunities, facilitating investors, and mobilizing community support. 

He emphasized that investments would deliver far-reaching benefits such as job creation, skills development, infrastructure growth, higher internally generated revenue, and enhanced security across Adamawa State.

Representatives from local government, the private sector, and traditional institutions commended ADIPA for organizing the Stakeholder’s Sensitisation Forum. They noted that the program will help chart a clear course for economic growth and development in the state.

The Commissioner for Commerce and Industry, Ishaya Dabari, emphasized that ADIPA and the Ministry of Commerce are working hand in hand to drive the state’s investment agenda. 

He urged participants to take full advantage of the opportunities presented at the investment summit to build sustainable partnerships and unlock new prospects for business.

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 Dabari also encouraged chambers of commerce to unite the entire private sector under one umbrella to collaborate more effectively and advance Adamawa’s economic interests.