Alhaji Yusouff Bo Alli, the Special Adviser to Kogi State Governor on Investment Promotion, was appointed and was sworn-in at the Lokoja Township Stadium on 26th July, 2013 along with some other colleagues. Alhaji Alli has spent over 1 year in office and is reputed to be in the Governor’s inner circle.
At every given opportunity to speak in public, regardless of the purpose of the gathering, the elderly gentleman will quickly notify all present that Kogi has a one-stop investment desk that facilitates investment initiatives with dispatch.
Alhaji Yusouff Alli is a key player in Capt. Idris Wada’s Agricultural and Industrial Transformation Agenda. If Wada succeeds, Alhaji Alli must share in the glory, if Wada fails, he will rightly adjudged as an accomplice.
With potentials for investment in diverse sectors of the economy such as Agriculture, Mining, Industry and Power, Tourism, Transportation, Waste Management, Urban Renewal, Hospitality, Trade and Commerce, Kogi should on a good day be a bride to investors.
In a bid to harness these potentials, Alhaji Alli and his team has fashioned out attractive incentives such as Tax Holidays, Access to land with necessary titles and also facilitates exploration of solid minerals through the necessary Federal agencies.
Similarly, towards developing the State Agriculturally and Industrially, Alhaji Alli has entered into an understanding with willing entities to form Joint Ventures. He believes the state will graduate to Build, Operate and Transfer (BoT) agreements as soon as there is enabling Public Private Partnership legislation is in place.
So far, Alhaji Yusouff Alli’s office has facilitated the signing of about ten MoUs with various partners to invest in several sectors of the State. Alhaji Alli affirmed that Kogi State has equity shares in all of the MoU.
These investment strides, when fully consummated, a proportion of the profit will be earned by the state thereby enhancing revenue generation to the state government. According to Alhaji Alli, all the partnership entered into by the State ensures a dual advantage of having direct and indirect employment creation on a massive scale as well as funds made available for other developmental purposes.
MoUs with Astra Agriculture Resources Ltd, Kiabo Engineering Ltd, Chelsea Group Limited, Gavic Construction Limited, Light House Financial Services Limited and Astra Coal Nig. Ltd have already been signed.
Reprom Company Nig. Ltd, Good Earth Power Nig. Ltd, Ostertrade Engineering and Manufacturing, DPP International, APS and Espera Global Ltd are companies that are in the process of entering into partnership with the State following the discovery of the State’s strategic location to investment.
Alhaji Alli hold the belief that the only way Kogi state can attract investment and to stimulate the economy is to create an enabling environment, make available its natural resources as well as provide the political will to drive all the processes from signing of MoU to the actual implementation of the projects.
Alhaji Alli recently disclosed that the Joint Venture MoU for farming of up to 6000 hectares of Cassava and processing into native and modified Cassava Starch with with a reputable foreign investor is in the offing. The project, he noted, has an equity investment of 650 million USD to be realized within 18 months with all parties honouring their obligations. The project he also added has a high net worth with a return on investment of 27% i.e. a payback period of less than four years. It is also capable of generating thousands of employment in the area of its location.
Similarly, the partnership with Espera Global Limited in commercial Agricultural and Agro Industrial investment which would operate on a Project Model called Strategic Fast Tract Agricultural Development System, Alhaji Alli says seeks to invest up to 650 million USD on 25,000 hectares of land.
Aside the backward integration advantage to the state, the state also enjoys 15% share of the project while employment would be created in Agriculture Infrastructure and Social Service.
The MoU entered into with Chelsea Group Limited, Alhaji Alli disclosed is for the establishment of Agriculture and Ethanol Plant and other associated Industries in Ilama Community in Dekina Local Government Area. The project is a 300 million USD investment. The equity structure of 85% and 15% for Cassava development for the partner and state government respectively, will occupy a landmass of 10,000 hectares of land.
The MoU with Favic Constructions Company Limited the Special Adviser disclosed would seek to exploit the immense location of economic advantage of Kogi State as a transportation hub. On the average, vehicles from 22 States pass through the Capital daily.
A Mechanic and Spare Part Market in Lokoja, is to be sited on a minimum of 10 hectares of land. The facility will have an international hotel, car park that will take at least 200 Vehicles, a Bank, Open Court Restaurants, and Rest Rooms is structured on the basis of 75% and 25% for the investor and State respectively.
According to Alhaji Alli, Capt Wada’s effort in providing mass housing scheme in the State, made it to enter into partnership with Light House Financial Services Limited to build 1500 houses of various categories for it citizens in the state. The scheme, which will be located majorly in Lokoja and other urban towns in the State would be prosecuted in phases.
The importance of Power in driving socio-economic development in any society, Alhaji Alli opined made the State sign a MoU with Good Earth Power Nig. Ltd and Astra Coal Nig. Ltd. The companies aside investing in Housing, Agriculture, Infrastructure and Power Plants, would utilize the abundant Coal deposits to generate the much needed electricity for the Country.
Astra Agriculture Resources Ltd, according to Alhaji Alli intends to establish a Rice farm and Rice Mill at Ibaji. Infrastructures such as Health Centre, Schools, Roads, Water and electricity the Special Adviser disclosed would be provided by the investor as part of their Corporate Social Responsibility.
Through the Kogi investment and properties Limited, a joint agreement with Kiabo Engineering Group Holding Limited of Hong Kong to Design, Construct and Operate an eleven storey Hotel and offices to be known as Kogi House to be located in the central business area of Abuja.
The icing on the cake in all of the partnership, Alhaji Alli maintained is the ongoing move to resuscitate the Ajaokuta Steel Plant. The plant which has since been recognized as the fulcrum of industrialization for the country, has been bedeviled over the years by some forces against its take off, Alhaji Alli disclosed would soon have its jinx broken as bold steps he stated have been taken by the State Government to reawaken what he called a sleeping giant.
Reprom Company Nig. Ltd, Alhji Alli disclosed in partnership with the Kogi State Government has put in place machinery to reactivate the steel plant in the next few weeks, says he is very optimistic that it would be made possible before the end of 2013.
