International Bodies Collaborate to Attract Investment to Borno State

In a significant move towards economic recovery, the United Nations (UN), European Union (EU), and the German Government are actively engaging investors to revitalize Borno State, which has faced considerable challenges due to conflict and displacement. During the third Borno State Private Sector Engagement and Investment Roundtable held in Abuja, stakeholders pledged ongoing support to facilitate private sector investments aimed at creating jobs and rebuilding livelihoods for displaced families.

Governor Babagana Zulum, who spearheaded the initiative, outlined his administration's commitment to implementing business-friendly reforms to attract investment. The series of roundtable discussions commenced in Lagos, where the focus was on financing viable projects and bolstering small and medium-sized enterprises (SMEs), followed by a session in Kano that highlighted key sectors including agriculture, livestock, fisheries, and infrastructure.

Over 50 prospective investors participated in the Abuja roundtable, reflecting a growing interest in Borno's recovery efforts. The UN Resident Coordinator’s Office representative, Thembekile Dube-Nanbe, called upon development partners to move beyond discussions and translate their investment initiatives into tangible outcomes. “Let us identify viable investment opportunities, mobilise capital, establish lasting partnerships, and commit to measurable results,” Dube-Nanbe stated, emphasizing the urgency of action.

Additionally, Laila Ben Amor Mathieu, the EU Head of Human Development, acknowledged the Union's longstanding support for Borno amidst its most challenging years, which included humanitarian assistance and backing for stabilization efforts. She noted that while grants and public budgets are essential, they must be complemented by private sector investment to achieve sustainable recovery.