Twenty-five Chinese investors, led by China Overseas Engineering Group (COVEC), have inspected sites in Katsina State to explore agricultural and renewable energy projects worth $720 million.
Proposed initiatives include rice, maize, cassava, fisheries, a 10,000-head cattle ranch, and solar power, highlighting Katsina’s growing appeal to foreign investors.
The Executive Secretary of the Nigerian Investment Promotion Commission (NIPC), Ms A’isha Rimi, disclosed this on Monday in Katsina, shortly after the inspection.
She was represented by NIPC Director of Strategic Services, Mr Abubakar Yerima.
Rimi further explained that the delegation was led by China Overseas Engineering Group (COVEC), a state-owned Chinese Construction Conglomerate.
Focus on agricultural value chains
According to her, the investors are interested in establishing a complete agricultural value chain for rice, maize, cassava, and fisheries, alongside a 10,000-head cattle ranch.
She noted that other proposed ventures included agricultural machinery assembly plants and a solar power facility.
Rimi also said, “With NIPC facilitation, they have already committed $200 million in Niger State, which has now been expanded to $720 million.
“They also recently announced $620 million in Jigawa and $500 million in Oyo state. If they find the right opportunities here in Katsina, we are looking at a similar level of investment,” she said.
Key project proposals in Katsina
The executive secretary highlighted key project proposals in Katsina, including; a 2,500 hectares Sabke Dam for maize cultivation to produce livestock feed, and Dabiram Dam with 380 hectares for a complete fisheries value chain.
- According to her, the investors also proposed Leather Processing Factory, Agricultural Research Institute for goat and cattle breeding and partnership on Goat Breeding Centre at Rimi Local Government Area.
- Others she said, were Solar Power Products Assembly Plant, Agricultural Commodities Commercial Centre in Mai’adua, and PPP with the State Government for a Special Agricultural Processing Zone and Green Economic Zone.
- The executive secretary also added that the projects would require about 4,000 hectares of land, with an initial investment commitment of $150 million.
Rimi commended the proactive role of the Katsina State Investment Promotion Agency, noting that the investors were impressed with the level of preparation and presentations received.
The delegation visited sites across Jibia, Mashi, Daura, Mai’adua, and Kaita local government areas.
What you should know
China Overseas Engineering Group Co., Ltd. (COVEC) is a prominent Chinese construction and engineering company specializing in international infrastructure and development projects.
Established as a subsidiary of China Railway Group Limited, COVEC operates across various sectors including transportation, energy, agriculture, and urban development.
COVEC has undertaken over 1,000 large and medium-sized projects in nearly 100 countries, with a total contract value exceeding USD 12.22 billion.
Their portfolio includes significant infrastructure developments such as highways, railways, and power plants, particularly in Africa.
In Nigeria, COVEC has been actively involved in various projects aimed at enhancing the country’s infrastructure and industrial capacity.
Notably, they have signed agreements with nine agro-industrial processing companies to co-locate within the Niger State Special Agro-Industrial Processing Zone, reflecting their commitment to boosting Nigeria’s agricultural sector.
On the face value, this is a good development. However, government at the centre and other state actors should be vigilant. Let it not be that this is a decoy to come close, spy on and tap other minerals and rare earth deposit in Katsina and greater North west. Nigeria only welcomes investors with genuine intentions. Long live Nigeria, long live PRC.