Mercy Corps, others woo investors to Northeast region
By Tada Juthan
The Country Director of Mercy Corps, Ndubisi Anyanyu has said that the state governments of Borno, Adamawa, Gombe, Bauchi and Yobe states have created an enabling environment for investors in the Northeast.
According to him, the investors’ environment has enabled Mercy Corps to intervene in the complex vulnerable challenges during the 15- year conflict in the region.
Anyanyu unveiled the agricultural business environment, yesterday (Tuesday), at the Rural Resilience Agricultural (RRA) partnership event held in Maiduguri, Borno state.
The partnership day was organized by the United States Agency for International Development (USAID)-funded feed the future Nigeria RRA and other development partners.
He said despite the investment challenges in five states, the region presents opportunities in various economic sectors, particularly in the agricultural value chains to boost employment and food security.
“Mercy Corps and other development partners are working on the region’s frontlines to create a future of possibility where everyone can prosper in the various sectors of the economy.
“Our mission is to alleviate suffering, poverty, and oppression by helping people build secure, productive, and just communities,” adding that they are committed to create global change through local impart in the agricultural sector.
He said a significant area of socio-economic potential lies in agribusiness, with the region’s production capacity offering opportunities for increased food production.
According to him, the initiatives focus on modernizing farming practices.
He assured the participants from the industrial and banking sectors, and agricultural business firms that advanced technologies will be introduced by providing access to formal finance and credit facilities.
“These are to enhance farmers’ productivity to contribute to economic growth and development in the agricultural and livestock sectors,” said the Country Director.
He, however, listed the numerous challenges hold back agro-business potentials to include insecurity, climate change, and other drivers of vulnerability in the six targeted states in the northeast.
Anyanyu warned that these are the challenges that have no single solution or actor to overcome them alone.
However, numerous challenges hold back these potentials, including insecurity,
Besides, he added that it requires strategic and tactical partnership among the state governments, non-governmental organisations (NGOs), and organized private sector (OPS).
“They are the ones to unlock the untapped potentials in the region by fostering long-term sustainability and positive socio-economic change,” he said.
The RRA themed: “Facilitating Trade and Private Sector Investments in Borno State: A Pathway to Resilience, Economic
Recovery, and Growth,” was to woo investors and stimulate economic development in Borno state.
He noted that its also in line with State’s 25- year Development Plan.
According to him, RRA’s objectives are to create competitive markets, rally investors with financial institutions to reinvigorate the various economic sectors in the region.
“We’ll also provided a platform for the five participating states,” he said. Each of these
Anyanyu, therefore, urged heads of Ministries, Departments and Agencies (MDAs) to articulate and demonstrate their commitment to create an enabling environment with policies and regulatory changes, including the development of critical infrastructural facilities.
“You should streamline bureaucratic processes to ensure an efficient business ecosystem in your states,” he charged the MDAs.
Governor Babagana Zulum, who was represented by Dr. Mairo Mandara assured that the state government is committed in the implementation of the 25-year development plan, as it contains most of the objectives of developing the state in the various sectors.
A six-member panel of experts, led by Olga Petronian from Mexico said that critical roles have to be played in the banking, seeds production, rice and wheat milling firms in boosting the various economic sectors, particularly in agricultural production, trade and commerce.
