Tinubu Seeks Collaboration with Kano Business Community

President Bola Ahmad Bola Tinubu has sought the continued support of the Kano business community towards implementing his economic policies to better the lots of the citizens. Tinubu who was represented by the Minister of Information and National Orientation Muhammad Idris at a town hall meeting in Kano on Friday highlighted the plans and interventions made available for them by this administration.

He said President Tinubu directed him to visit Kano and rub his mind with the Business Community, with a view to fine-tune modalities of reviving the Business Sector and the economy especially, the Blue Economy and Renewed Hope Agenda.

He said Under the Renewed Hope Agenda, the Central Bank is determined to focus on its core mandates of price stability and financial system stability, for the benefit of Nigerians.

“We have established a Presidential Fiscal Policy and Tax Reform Committee to reform the tax system while also reducing the tax burden on Nigerians, especially businessmen, and women”.

Idris noted that “the President Bola Ahmed Tinubu-led administration has attracted $30 billion in Foreign Direct Investment (FDI) commitments into the real sectors of the economy since he assumed office.

“These investment commitments—covering various sectors, including Manufacturing, Telecoms, Healthcare, Oil and Gas, and others—are already being realized. The Nigerian economy grew by 3.46% (year-on-year) in Q4 2023, compared with 2.54% in the preceding quarter; a better performance than anticipated.

” Capital Importation into Nigeria was up 66% in Q4 2023, compared with Q3 2023, reversing a 36% decline in the previous quarter.”

The Minister added that President Tinubu’s new Oil and Gas policy reforms program will, when implemented:generate a billion cubic feet per day of additional gas supply.

“It will also create 2.3 million jobs, and boost GDP by $17 Billion Compress Nigeria’s oil and gas contracting cycle from 38 months to <6 months New tax incentives being implemented have the potential to attract up to $10 Billion in new oil and gas investment New Presidential Policy Directive will bring down operating costs for oil and gas operations in Nigeria; Speaking on behalf of the Kano Business Community, Chairman Alhaji Sabi’u Bako called on the government to ensure that the plans and interventions of the government reach those they are meant for.

“We have submitted our blueprint of demands to His Excellency, the President in an earlier engagement and I have every reason to believe that this is a step towards the implementation of the blueprint.

“We wish to call on His Excellency to ensure that these funds that are made available for the Business Community reach them. We have seen in the past how the Anchor Borrower did not reach those it was meant for. We want the President to ensure that those funds get to those they are meant for.

“We also want Kano to benefit from the aspect of 12,000mw of electricity to be inducted into the national grid to support our industries. We have witnessed a migration of many industries from the state due to a lack of power supply to keep them in place.

“We also want the President to ensure that the AKK gas pipeline is completed to ensure that we in Kano and the north in general benefit” he stated.

The chairman also advised the Nigerian government to prioritize the enhancement of exports as a means of generating foreign currency and growing the Gross Domestic Product.

While calling on the government to revive the usual quarterly meeting with the business communities in the country, the chairman also called on Mr President to ensure that Kano benefits from all the incentives the administration has for the Business Community.

Ahmad Sorondinki in Kano.