Zenith Bank Plc

InvestJigawa and matters arising

By Saifullahi Attahir Wurno

” …. In the next 25 years, Jigawa state should be the preferred investment destination in Nigeria”.  – Sule Lamido

On June 4, 2024, the Jigawa State Investment Agency, with the collaboration of other key economic sectors, convened a summit to raise awareness on how to facilitate easy access to small credits and attract foreign investment.

Many dignitaries across the state gracefully attended the summit, including various agencies concerned with investment in the state and the private sectors involved in providing job opportunities for our army of unemployed youths.

Summits like these were crucial to highlight key areas that urgently need investment in Jigawa state. These investments would serve as catalysts for job creation, improve economic indices, and attract more internally generated revenue (IGR) for the state.

I was delighted by a speech by Mal Audu Ahmadu from CBN, who highlighted the role played by commercial banks in hindering small enterprises’ access to loans because of their high interest rates, which amount to over 30 per cent instead of the more tolerable 25 per cent or less.

Commercial banks created other bureaucratic formalities that prevented local investors from getting easy loans. They required collateral assets to be presented, sometimes demanding that they be in the nation’s capital, Abuja, or other unreachable locations.

Although many banks were invited, the commercial bank Zenith Limited required special mention not only for being the only bank honouring the invitation but also for analysing its activities over the years in Jigawa state aimed at improving the standard of living of ordinary people in the state. The bank formulated a specially designed program called Z-Women to give medium-term credit to women interested in domestic marketing.

Other key dignitaries in the summit who were among the frontiers as local investors include Dr Sambo of Sambo Hospital Limited, Dr Yamuna Kani of Albarka Hospital Limited, Mallam Umar Babayaro of Limawa Table Waters, and Mallam Hassan Hashim from Hasina Confectionery Limited.

Another key guest was Mallam Aminu Bizi, CEO of the renowned Bizi Mobile Cashless Consultancy Limited. He was instrumental in providing millions of jobs in the technology sector across many States in Northern Nigeria through mobilisation, marketing, and public awareness of POS services during the early CBN introduction of the cashless policy.

Aminu Bizi other ventures include; Bizipay Fintech Account, NASIA health insurance, Jigawa JICHMA health insurance, and Jigawa Palliative shops. All these were his endeavours to provide jobs for unemployed youths in the state through partnerships with the state government.

Jigawa state was in dire need of investment, and the unfortunate low profile caused the poor turnout of foreign investors. However, with the appointment of the current Director General of the Agency, Hajiya Fureira Jumare, many positive strides were made to attract potential investors to the state.

For the benefit of outsiders, Jigawa state is one of the most peaceful states in the country, with political stability that would protect capital venture investments. The state has a population of over 6.5 million people, which is a readily available market for any investment and cheap labour for manufacturing.

In 2018, the World Bank ranked Jigawa state second among states with ease of doing business. The state has a rainfed land of over 1.9 million hectares, of which 400,000 is Fadama readily for rice farming. The state is mainly Agrarian, with vast land that fruitfully yields Sesame, grains, Hibiscus, tomatoes, and Onions. Jigawa is blessed with about four major markets that have an extensive network linking the state to others and international markets like Niger and Cameroon. The market include; Sara, Gujungu, Maigatari, and Hadejia.

Jigawa state has over 22,000 square kilometres of land, over 3000 km of road network, and a state-of-the-art International Airport. The current and previous administrations have led the way in bolstering the state’s economic indices and attracting foreign investors.

InvestJigawa was founded in 2013 after the first economic investment summit under Governor Sule Lamido (the father of modern Jigawa). Seven years later, with the appointment of the current DG, she strives to create a commendable five-year strategic plan (2021-2026) for the InvestJigawa journey. 

The roadmap would constitute a public-private partnership (PPP) and comprehensive development framework (CDF) to revive key employment avenues like MSMEs, tourism, solid minerals mining, renewable solar energies, and the already established Agriculture.

Jigawa state aims to attract at least 1 billion USD and create 2500 jobs by the end of 2030. This is thanks to other investments made during previous administrations, such as the Kila Cassava processing plant, Hadejia rice mills, Gagarawa Sugarcane plants, Gagarawa Industrial Park, and Dutse Ceramic Processing Company.

Saifullahi Attahir Wurno wrote from Dutse. He can be reached via saifullahiattahir93@gmail.com.

Industrialisation of the North: The future

By Muhammad Sani Usman

Somebody was shocked that the revenue of Zenith Bank as of 2022, which is N945 billion, is greater than the internally generated revenue of northern states combined. Literally, Zenith Bank alone is more financially buoyant than northern Nigeria. And he was lamenting about the poor inclusion of northerners in such investments in their states.

Kaduna is taking the lead in investments in the North, but her (Kaduna) IGR is not up to one hundred billion Naira; it is half of that. Even the profit after tax of Zenith is bigger than the economic cities of Kano and Kaduna. These two states are not up to N100 billion altogether.

I told him, “Investing in banking is highly industrious. But our northern billionaires have no business with anything “Knowledge-based economy”. What they know is to hoard dollars, buy shares, and run over a baby company/factory, as in acquisition.

Prof Murtala Sagagi of the Economics Department of Bayero University, Kano, told us, “While conducting a survey about the percentage of non-inclusion of Kano people to most of the fine-investments in food and beverages, logistics, and Banking Industries, one manager of one famous company told him, “When they try to recruit graduates for trainee positions; they expect them to be meticulous in training before they think of absorbing them fully as staff.

But you’ll employ someone as an assistant quality control officer or sales personnel, but his/her performance index will shock you unless you change your mindset seriously. Industries require expertise to run; you can’t employ someone you can’t fire or are lazy.”

There was another testimony last week. I was discussing with an auditor of one of the best companies in Northern Nigeria. The guy told me they had recruited a new customer care representative, and he was deployed to that branch, but all the time, the guy was not working; even the invoice that he was supposed to do, he couldn’t.

Unknown to the guy, a letter was sent from the headquarter for monitoring and evaluation of his performance by the senior staff of that organisation. My guy is among the people to vouch for him, i.e., whether he would be retained as permanent staff.

However, this is not limited to banking or the mentioned industries; this is about the lackadaisical attitude of our politicians about not creating factors that will favour industrialisation in the North. The A-K-K gas project is among the hope we have for the future of the North. Let’s wait and see!

Muhammad Sani Usman an industrial chemist who advocates good governance and Sustainable development goals. He writes from Zaria via Muhdusman1999@gmail.com.

HUP: Beneficiaries stranded as officials abandon posts

By Uzair Adam Imam

The beneficiaries of the Household Upliftment Programme in Nassarawa Local Government of Kano State are stranded as officials abandon posts without explanations.

The Federal Government had in May 2022 commenced the distribution of debit cards to the beneficiaries of the scheme.

Household Upliftment Programme aims to provide access to targeted cash transfers to poor and vulnerable households as captured from the National Social Register (NSR) based on standard eligibility criteria.

However, some of the beneficiaries expressed worries over how they spent three days going to the distribution centre located at Jigirya in the local government without being attended to.

Our reporter, who visited the Kano State Hisbah Office, Gigirya, where the beneficiaries trooped in hundreds to collect their automated debit cards to withdraw their cash, observed how disappointed they looked.

However, despite arriving at the place early in the morning, the beneficiaries bitterly complained that the officials did not come until around 1 pm.

The Daily Realityreporter gathered that the slowdown in attending to the beneficiaries was due to the failure of the officials to deploy enough staff to handle the issue smoothly.

Zenith Bank, which was in charge of distributing the debit cards to the verified beneficiaries, deployed only six of its staff to handle the people of the local government.

Tension as infant suffocates, paints

An elderly woman at the venue narrated to The Daily Reality how a newly born baby almost died because of the heat and congestion.

She said, “yesterday, we witnessed how a newly born baby of one of us that has been coming here for three days suffocated because of heat and painted.

“We all gathered to see for our eyes the fate of that baby. But at long last, God saved,” she said.

‘Our agent abandons us’

A household, Malam Ibrahim (not real name), who said he was from Tudun Murtala, said today (Friday) was his fourth time at the place, saying he was not attended to.

He said, “It is almost one o’clock, but the agent assigned to our ward has not arrived. Therefore, I think none of us will complete their verification and collect their ATM.”

The Daily Reality learned that a man, identified as Malam Aminu, was said to have caused the delay in attending to the people of Tudun Murtala as he was their agent.

Another household said, “We would have collected our ATM if our agent was around, but he has not arrived yet.”

However, when contacted, Malam Aminu said he was not authorized to speak to journalists.

Discrepancies in benefits noticeable

Efforts by The Daily Reality to know the exact amount of money from one household to another were unsuccessful as the officials refused to speak on the matter.

The officials have kept it a secret to themselves that even the beneficiaries are confused, as they don’t know how much they will get until they pay them.

Some of the beneficiaries have received N70,000, N57,000 and some others N40,000.

One of the households told our reporter, “My sister received N70,000 naira yesterday. What you get depends on the information you give them during registration.”

Another woman said her friend received a sum of N57,000 Friday.

However, when our reporter contacted the woman in charge of the program to comment on the matter, she said she was not allowed to speak on it as they were busy making arrangements to fast-track the distribution.  

An official, who does not want his name in print, said the discrepancies were a result of what he called “old and new systems.”

He said those on the old system were paid a sum in the past. Therefore they will not receive the same amount as those on the new system.