“Bauchi Governor Unveils Policies to Attract Local, Foreign Investment”
Bauchi State Governor, Bala Mohammed, has announced that his administration has implemented several policies designed to attract both local and foreign investors to the state.
Speaking on Monday at the opening of a sensitization and advocacy workshop on diaspora investment potentials in the North-East, the Governor highlighted initiatives such as tax holidays for new businesses and the creation of a ‘one-stop shop’ to ensure swift responses to investor needs.
Represented by Amina Mohammed Katagum, Commissioner for Budget, Economic Planning, and Multilateral Coordination, the Governor emphasized that these measures were part of his administration’s efforts to foster a conducive environment for investment in Bauchi State.
Governor Mohammed also revealed that he had instructed the state’s Diaspora Focal Point Officer (DFPO) to collaborate with the Nigerians in Diaspora Commission (NiDCOM) to tap into the vast untapped investment potential of Nigerians living abroad. “Nigerians in the diaspora are a major source of investment, expertise, and knowledge that can help transform our state,” he said.
The Governor further stressed the importance of diversifying revenue sources in the North-East, a region that has suffered from the long-term effects of Boko Haram insurgency, which had undermined the farming sector—its most crucial source of livelihood. “If the North-East does not prioritize revenue generation through the exploitation of its resources, the region’s economic future will remain bleak,” he warned.
He also noted that before his administration assumed office in 2019, Bauchi was highly vulnerable to financial shocks, with challenges in paying salaries and funding infrastructure projects. To address these issues, his government launched the My Bauchi Project 1.0, a five-year vision document aimed at enhancing revenue generation and supporting the growth of small and medium-sized enterprises (SMEs).
Under this plan, the state introduced incentives such as tax holidays for new businesses and set up a ‘One-Stop Shop’ to facilitate investor needs, which improved Bauchi’s ranking in the Ease of Doing Business index.
As part of his re-election agenda in 2023, Governor Mohammed introduced My Bauchi Project 2.0, a ten-year strategic development plan that includes expanding investment opportunities, particularly targeting global investors and the diaspora.
Acknowledging the role of NiDCOM in facilitating diaspora engagement, Governor Mohammed expressed his appreciation for the commission’s efforts and reiterated the importance of utilizing diaspora knowledge and expertise to advance the state’s development.
In closing, he congratulated the participating states and organizers of the workshop, emphasizing the significance of the event in improving living standards and promoting sustainable growth for the North-Eastern region of Nigeria.
