A deal worth $864 million has been signed by the Bauchi State Government and an American investment company to produce cement at the Gwana Cement Factory.

The Details: This was made public by Senator Bala Mohammed, Bauchi State Governor at the opening ceremony of a three-day Special Retreat for the FCT Minister’s Press Corps in Bauchi. The governor was represented by Chief of Staff, Bauchi State, Abubakar Kari.

[READ MORE: Nigeria, Canada to ink new $2.3b power deal]

Giving more details about the deal, Kari noted that the Constant Return to Scale (CRS) of the investment was worth N2 billion. In the area of infrastructure, he said the government had signed a Memorandum of Understanding for the execution of Kujuru Solar Power Project at $100 million, with the Kuwait government for investment of up to $200 million.

This development is in addition to an agreement with Family Homes Funds for the provision of 2,500 housing units to be distributed across the state at the total cost of N15 billion. He also highlighted the government’s readiness to improve healthcare delivery by declaring a state of emergency in the health sector.

It was also disclosed that the state government had issued a standing order to all the 20 Local Government Areas to contribute 1% of their Internally Generated Revenue to the Bauchi State Health Care Trust Fund.

Business day

“In order to give more dividend of democracy to the good people of Bauchi State, government has awarded contracts for the construction of 92.6 kilometers roads across the State at the cost of N17.3 billion.

About 50% down payment has been paid and the completion period is between one year and a maximum of three years,” he said.

[READ MORE: FG inks $3.9 billion deal with Chinese firm for construction projects]

Deal book 300 x 250

Kari disclosed how the state distributed 3,085 sprayers to trained youths on contract spray across the 323 wards of the state, while over one thousand youths had graduated in non-graduate component skills acquisition.

Our major achievements in the Agricultural Sector was Fertilizer and Agro-the purchase of N600 million and the chemical worth launching of Agricultural Policy of the State, which will take Bauchi State farmers to the promised land,” he commented.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.