By Kazeem Waris
The United Nations (UN), European Union (EU), German Government and other international development partners have stepped up efforts to attract private investment to Borno State, seeking to accelerate economic recovery, create jobs and restore livelihoods disrupted by years of insurgency.
The development partners, at the third Borno State Private Sector Engagement and Investment Roundtable in Abuja on Thursday, called on investors to seize emerging business opportunities in the state, stressing that humanitarian assistance and public funding alone could not sustain its reconstruction.
More than 50 prospective investors attended the roundtable, where Governor Babagana Zulum’s administration pledged business-friendly reforms, improved security and investment incentives to attract private capital.
Representing the UN Resident Coordinator’s Office in Nigeria, Thembekile Dube-Nanbe challenged development partners and investors to translate discussions into concrete projects and measurable economic outcomes.
“Let us identify viable investment opportunities, mobilise capital, establish lasting partnerships, and commit to measurable results,” Dube-Nanbe said.
The EU Head of Human Development, Laila Ben Amor Mathieu, said the Union had supported Borno through its most difficult years with humanitarian assistance, stabilisation programmes and recovery interventions.
She, however, stressed that private investment was indispensable to rebuilding the state’s economy on a sustainable scale.
“Grants and public budgets alone will not finance recovery at the scale Borno needs. Private capital must play its part, and the role of us partners is to make that possible,” Mathieu said.
She disclosed that investors could support the proposed Borno State Durable Solutions Trust Fund or pursue commercially viable projects backed by incentives such as access to land, industrial hubs and tax measures.
Mathieu urged businesses to identify projects for further consideration, establish partnerships with local companies and create employment opportunities for women and young people.
“Borno is becoming an investment story. The European Union is proud to be part of it,” she said.
Similarly, the Head of Development Cooperation at the German Embassy, Dr Karen Jansen, commended the state government for its efforts to rebuild communities, restore infrastructure and public services and open the economy to investors.
She assured Borno of Germany’s continued support, emphasising the importance of private capital in complementing development assistance.
“Mobilising private sector investment, including through blended finance, will be essential to complement development cooperation and support Borno’s sustainable reconstruction,” Jansen said.
Responding to the investors, Zulum, represented by his Chief of Staff, Dr Babagana Mustapha Mallumbe, said improving security and ongoing reforms were creating opportunities for the state to transition from emergency humanitarian interventions to sustainable economic development.
He invited investors to explore opportunities in commercial agriculture, livestock production, fisheries and manufacturing, while urging financial institutions to expand access to credit for small and medium-sized enterprises.
“Government’s role is to build the foundation, establish the security, and create the regulatory framework. But the private sector is the ultimate engine of wealth creation, job opportunities, and lasting prosperity,” the governor said.
Zulum disclosed that the Borno State Investment Promotion Agency was working to simplify investment procedures through land administration reforms, fiscal incentives and public-private partnership frameworks designed to protect investors.
The Abuja engagement is the third in a series of investment roundtables initiated by the Zulum administration. The first, held in Lagos, focused on financing bankable projects and supporting small and medium-sized enterprises, while the second, in Kano, centred on agriculture, livestock, fisheries and infrastructure.
The latest engagement underscores the growing push to move Borno’s reconstruction beyond humanitarian assistance towards private-sector-led growth, with investors expected to play a central role in job creation, enterprise development and the restoration of livelihoods.
