Bauchi State secures $5.2B in investments at summit
Bauchi State attracted $5.2 billion in new investments during its two-day Economic and Investment Summit held in October, with officials signing 47 memoranda of understanding with domestic and international partners. The agreements cover sectors including petrochemicals, sports development, aviation, agriculture, minerals, energy and tourism, positioning the northeastern Nigerian state as an emerging business center.
China Fuhai Energy Group committed $2.7 billion toward constructing a petrochemical complex expected to generate thousands of jobs, while African Athlete Academy pledged $1 billion for a sports training facility. Indigenous carrier Wikki Air Limited finalized arrangements to launch flight operations connecting domestic and international routes from Bauchi.
Vice President Kashim Shettima told participants that federal economic reforms have reduced the debt service-to-revenue ratio below 50 percent, while GDP growth reached 4.23 percent and external reserves climbed to $43 billion by September. Governor Bala Mohammed assured investors of protection and enabling conditions, while Sultan Muhammad Sa’ad Abubakar III emphasized that security remains essential for sustained investment activity.
