…Woos Investors, Capital Market Operators as Gombe Plans Bond Issuance To Finance Critical Projects
.. Rings Historic Closing Gong at NGX
Gombe State Governor, Muhammadu Inuwa Yahaya Wednesday, made the first move among the subnationals in Nigeria to source for green bond funding to execute his environmental friendly projects.
The governor met a broad spectrum of investors, investment experts, stock brokers and array of capital market players to source for the green bond funding window as a means of consolidating his investment drive into Gombe State.
The meeting at the Nigerian Exchange Limited ( NGX) is a precursor to the second edition of the Gombe State Investment Summit tagged Go-Invest 2.0. which is billed for November 2024 in the Gombe State capital.
Governor Inuwa Yahaya said he led his team to the NGX to showcase to the whole world the potential in Gombe State and invite investors over.
“We need this funds to engage in viable projects that are eco-friendly, sustainable, and in conformity with international policy on climate change. It is also to invest in eco- friendly projects that will contribute to the well being of the citizens and minimize the impact of climate change on their livelihoods.
“We shall be expanding the frontiers of our afforestation programs which our administration has been prosecuting under the Gombe Goes Green project. In addition, we will also pursue the solar energy project which has helped Gombe State tremendously since we embarked on solar energy as an alternative source of power in Gombe State.
” We are expecting to raise N30 billion , but we will do it in tranches. We are sourcing for N15b for now and when we see how well that is doing,we can now come back.
He explained that Gombe is an agrarian economy with over 70% of the population actively engaged in the sector, adding that ” we will expand the agricultural sector potentials with more funding”.
The Chairman of the Northern Governors’ Forum is very optimistic of his success at the NGX. He said, ” I’m sure from the acceptance we have received from the investors and feelers from the exchange floor we are sure of meeting our target”.
” We are at the centre of North East Nigeria,we are relatively peaceful and infact number one in peace and cordiality in Nigeria.We have every cause to invite investors to Gombe State because we can guarantee the safety of the investors and their investments, he added.
“We are currently leading Nigeria in the ease of doing business, winning it back to back in 2021 and 2022; we run a very transparent government devoid of bottlenecks. We are digitally compliant and our procurement processes are very open and seamless”, Inuwa Yahaya told the investors.
“I also make bold to say that all the enabling environment for business success have been provided in Gombe State. We have the Dadinkowa Hydroelectric Power Station with a capacity for 40 MW power supply which is already commissioned.The Network Eleven – 100 road network which connects all the rural areas with the metropolis has seen over 1000 kilometers of road already constructed and we are still working”, the governor added.
The well attended event which had virtually all the investment sector representatives in attendance witnessed a torrent of commendations for Governor Inuwa, as investors were impressed with the way he sold his State to the sector, demonstrating both passion, ownership and ebullience of a business man who not only knows his onions but has done his homework very well.
The stockbrokers assured the governor that his request for funding has been well received and that he will get all he came for.
Obviously winning the confidence of the investors present,”Hassan Bello who has served as the chairman of Nigerian Shippers Council for eight years, had this to say about the visiting Governor. “Whoever listens to your presentation and didn’t take action is not a serious minded investor.”
He however expressed his desire to invest in the area of dry port infrastructure, to which the Governor reeled out the huge opportunities that abound in Gombe State.
Waheed Olagunju, a former managing director of the Bank of Industry commended the huge steps taken so far by the Gombe State government under the leadership of Governor Inuwa Yahaha but opined that it is expedient to guarantee the coming investors of political security.To this, Governor Yahaya expresed the fact that in Gombe State there’s always a continuity of projects. He added that his 10 – Year Development Plan, DEVAGOM has taken care of investment and socioeconomic stability for the next seven years even after his exit.
The Managing Director/ CEO of the Nigeria Exchange Limited,Teni Popoola, praised the Gombe State Governor as a worthy
partner in progress.
” You’re one of the few pillars of support for the exchange,who have confidence in the exchange for funding.We have done over N55 billion fund across the states and we are delighted and eager to work with Gombe State having seen the huge potentials of your state as you have eloquently and convincingly presented it to Nigeria Exchange today”.
Before departing from the Nigeria Exchange Building, Governor Inuwa Yahaya performed the ceremonial closing bell ringing at the trading floor amidst cheers and eulogies. He becomes the first dignitary in the year 2024 to ring the closing gong.
Fielding questions after the closing ceremony, Governor Inuwa Yahaha further shed light on his mission to the NGX.
The Governor was satisfied with the visit to the exchange, passing a vote of confidence in their ability to deliver.
“Nigeria Exchange is a key player in the world exchange and we have confidence in its ability to deliver our needs”.He concluded.
Dr. Umaru Kwairanga, Chairman of Nigerian Exchange (NGX) Group Plc, commended Governor Inuwa Yahaya for his visionary leadership in Gombe State, acknowledging the Governor’s efforts in setting the pace for business-friendly policies.
He urged members of the capital market community to rally behind and support Governor Inuwa Yahaya’s initiatives, citing Gombe’s potential as an ideal investment hub.
“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 in Gombe,” affirmed Dr. Kwairanga, underscoring the promising prospects that make Gombe State an attractive destination for investors.
Governor Inuwa was accompanied by Speaker Abubakar Mohammed Luggerewo, Hon. Ali Baba Manu, Commissioners of Finance and Economic Development, Muhammad Gambo Magaji; Trade, Industry and Tourism, Nasiru Mohammed Aliyu mni, Budget and Economic Planning, Salihu Baba Alkali, members of GoInvest steering committee; Dr. Ishiyaku Mohammed, Benson Yahaya among other officials.
