Sokoto set to raise N65.7bn loan for massive infrastructural projects, investment – Finance Commissioner

Aminu Waziri Tambuwal, Governor of Sokoto State

By Ado Hassan, Sokoto

In it’s determination to rapidly provide infrastructure and enhance investment s for economic development, Sokoto state government says it is fast tracking to raise N65.7 billion loan facility for massive projects execution and investment in critical sectors of the state economy.

However, it emphasised agriculture, health,housing , urban renewal projects, construction of roads and bridges as well as education as priorities for the overall benefit of citizens of the state.

The drive came to fore weekend at the unveiling of the state economic development plan during a management retreat of the state Ministry of Finance held in Lagos.

The state Commissioner of Finance, Hon. Abdussamad Dasuki who made the disclosure said the move, anchored through multi-faceted approach is expected to yield positive and sustained development in the state.

Dasuki, explained that  the state government was embarking on the  massive infrastructure development to make Sokoto an investment destination for prosperous commercial activities that would strengthen its economic base.

He stressed that going by the policy plan, the proposed loan would fast track the economic transformation of the state and position Sokoto as a leading economy in Nigeria and Africa.

Dasuki, an immediate past House of Representatives lawmaker in the National Assembly, identified human capital development,  remodeling of the state into an investment destination, and establishment of enduring socio-economic infrastructure and institutions, were critical aspects and very dear to the Tambuwal administration, adding that ” the drive is beginning to yield results.

Let me say also that our  efforts to transform the economy by making the environment private sector driven and friendly are already yielding many fruits among which include the attraction of the biggest fertilizer blending company in the world to Sokoto and the biggest rice mill by Alhaji Aliko Dangote.

“In addition, we are advancing the ease of doing business in the state by making it easier for established business to scale and enabling new ones to spring up,” Dasuki said.

The Commissioner according to a statement Monday by Muhammad Bello ,Special Adviser on Media and Publicity to the Governor also pointed out that the drive would in turn translate to empowering families in the state  and the effects would trickle down to everyone. “We have witnessed rapid growth of business enterprises as more organisations now have the capacity to meet more market needs, resulting in increased revenue and a more prosperous economy,” he said.

In the same vein, he observed that the state government genuinely reformed the Payroll Systems which had removed ghost workers and helped  Sokoto to implement the new minimum wage of N30,000 for workers in the civil service.

“As a government, we believe it is important to invest in the education of our people. It is the greatest investment we can make towards the attainment of a more prosperous future. For this, posterity would be grateful to us. In this light, we have continued the renovation of secondary schools across the state. Already more than 100 secondary schools have been remodeled and renovated. Recently, we completed an ultra-modern secondary school in Gudu LGA, which was previously the only local government in Nigeria with no secondary.

 “The Tambuwal administration has gone far in a social intervention program in which N4 billion has been set aside for distribution to indigenes of the state to enable them engage in and enhance any business of their choice.
” In that regard, each and every indigene so selected got N 20,000 each. So far, the disbursement has been done in 9 out of the 23 local government areas of the state,” Dasuki noted.

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