As part of measures to improve investment inflow in the country through public-private partnerships, the Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA) has unveiled plans to use its upcoming fair to address the concerns.
Indeed, the chamber announced plans to open up investment opportunities to address the nation’s infrastructure challenges through its Kaduna international trade fair (KITF) scheduled to hold from Friday 24th February to Sunday 6th March, 2017 in Kaduna.
The 2nd Deputy President and Chairman, KITF, Main Organising Committee, Suleiman Aliyu, explained that recent reports suggest that to address Nigeria’s huge infrastructure challenges would require between US$12 to US$15 billion yearly for the next six years to meet its infrastructure requirements, adding that it has become evident that the federal government alone cannot muster the resources to meet this need.
In his words: “It is no wonder, therefore, that majority of infrastructure projects currently underway at both State and Federal levels are powered by PPPs”.
As a result of this, he said the chamber’s fair tagged ”Promoting public private partnership as panacea for accelerated growth and development” would explore areas of investment opportunities to complement federal government’s effort to develop the nation’s infrastructure facilities.
Aliyu during a press briefing to announce the fair, said the theme was deliberately chosen to reckon with current realities and intends to appreciate and compliment government’s efforts towards restructuring of the Nigerian economy that has been facing a number of challenges due to dwindling resources.
“It is our belief that promoting public private partnership (PPP) will go a long way in reducing the addiction on oil and gas by the federal government as the major source of revenue for developmental programme in Nigeria,” he said.
According to him, preparations for the 38th edition of the Kaduna international trade fair (KITF) have reached advance stage, maintaining that the fair as usual, would attract both local and international participants, contacts with investors, manufacturers, marketers and distributors within and outside the country.
He pointed out that the chamber is in close contact with all relevant ministries, department and agencies (MDAs) at the Federal and State levels. “As we are aware, the Nigerian economy is facing a number of serious challenges which include the problem of dwindling revenue, high exchange rate due to scarcity of foreign exchange, high inflation rate, closure of businesses leading to increase in unemployment, saying that these bottlenecks led to the current economic recession
Also speaking at the event, the Chairman Security Committee, Lawal Mayere, said the issue of security is very fundamental, assuring participants that Kaduna is peaceful despite negative security reports.
“We have taken a lot of measures in addition with what the State government has already done to ensure that throughout the fair, there will be no security breach. We have never experienced any security breach organising this fair. We are assuring participants that this year’s fair will security-breach free,” he said.
He added that the area where the violence is happening is over 250 kilometres from the fair ground, stating that all is set for the 38th KITF.