The United Nations, the European Union, the German Government and other development partners are backing efforts to draw private investment into Borno State, with the aim of creating jobs and helping displaced families rebuild their livelihoods.
At the third Borno State Private Sector Engagement and Investment Roundtable, held in Abuja on Thursday, representatives of the UN, EU and German Embassy pledged continued support for the state’s recovery through private sector investment.
The administration led by Governor Babagana Zulum started the roundtable series with a meeting in Lagos, which focused on financing bankable projects and supporting small and medium-sized enterprises.
The second edition took place in Kano, where the emphasis was on agriculture, livestock, fisheries and infrastructure.
More than 50 prospective investors attended the Abuja roundtable.
The representative of the UN Resident Coordinator’s Office in Nigeria, Thembekile Dube-Nanbe, urged development partners to turn the investment initiative into concrete action.
“Let us identify viable investment opportunities, mobilise capital, establish lasting partnerships, and commit to measurable results,” Dube-Nanbe said.
The EU Head of Human Development, Laila Ben Amor Mathieu, said the Union had stood by Borno through its most difficult years, providing humanitarian assistance and backing stabilisation and recovery efforts.
“Grants and public budgets alone will not finance recovery at the scale Borno needs. Private capital must play its part, and the role of us partners is to make that possible,” Mathieu said.
She said investors could support the proposed Borno State Durable Solutions Trust Fund or pursue commercially viable projects backed by incentives, including access to land, industrial hubs and tax measures.
Mathieu urged businesses to identify projects for further consideration, partner with local companies and create opportunities for women and young people.
“Borno is becoming an investment story. The European Union is proud to be part of it,” she said.
The Head of Development Cooperation at the German Embassy, Dr Karen Jansen, praised Governor Zulum for restoring communities, rebuilding infrastructure and public services, and opening the state’s economy to investors.
She urged investors to keep up their commitments as the economy grows, and assured the state of Germany’s continued support.
“Mobilising private sector investment, including through blended finance, will be essential to complement development cooperation and support Borno’s sustainable reconstruction,” Jansen said.
Governor Zulum, who was represented by his Chief of Staff, Dr Babagana Mustapha Mallumbe, urged private investors to take advantage of business opportunities in the state. He assured them of government support and simpler administrative procedures.
He said improvements in security and ongoing reforms were helping Borno move from emergency humanitarian assistance towards economic recovery.
The governor invited businesses to invest in commercial farming, livestock production, fisheries and manufacturing, while encouraging financial institutions to expand credit facilities for small businesses.
“Government’s role is to build the foundation, establish the security, and create the regulatory framework. But the private sector is the ultimate engine of wealth creation, job opportunities, and lasting prosperity,” he said.
Zulum said the Borno State Investment Promotion Agency was simplifying procedures for investors. He added that this was supported by land administration reforms, fiscal incentives and public-private partnership frameworks designed to protect investments.
