Governor Muhammad Yahaya of Gombe State governor has indicated that
he was aiming to get a green bond in the value of N30 billion to advance
the economy of the state. He said Gombe has a great potential in
agriculture, particularly in the areas of tomato and livestock. He said these
hold a lot of opportunities for investors to harness. Governor Yahaya said
the state has the largest the largest Grazing Reserve in Nigeria with
146,000 hectares of land, comprising six Veterinary Clinics, Milk Collection
Centre and Modern Abattoir and 16 Boreholes.
The governor explained that the N30 billion bond that his state was
canvassing for from the Nigerian Stock Exchange, Lagos will be used to
advance the different areas of the state economy, and also provide the
enabling opportunity for investors to collaborate in enhancing the State’s
agriculture and infrastructure development. He made this known at the
Closing Gong Ceremony by Gombe State at the Nigerian Stock Exchange
(NGX), Lagos.
He said, “This project was undertaken with the purpose of showing our
recognition of private sector investments as a strong catalyst for both
employment generation and the augmentation of Internally Generated
Revenue (IGR), thereby contributing significantly to the overall
advancement of the state’s developmental objectives.”
Yahaya did a further breaking down of what his administration wants to use
the bond for when he said that the funds go into the financing of ‘eco-
friendly and environmentally friendly investments, especially, in assets that
will contribute to restoration and upliftment of human life so that we can
reduce the impact of climate change and global warming.’
He expressed confidence that the state will achieve the objective of the
request, saying, “With the support we saw and the acceptance of the
Nigerian capital market stakeholders, we are going to hit our target”.
Many factors might have helped to make the Stock Exhange consider the
request of the administration, and these include the fact that the State was
ranked fifth out of 36 States on the following index assessed: accessibility,
open budget, public procurement, human resources, anti-corruption and
citizens engagement. Beyond that, the Exchange believes that there will be
return on investment in a state that maintains its position as number one in
ease of doing business in Nigeria.
The governor who said the State has been ranked number one for two
consecutive years the survey of the Ease of Doing Business (EoDB) in
Nigeria, was particularly happy for the reception at the Stock Exchange.
Dr. Umaru Kwairanga, Chairman, Nigerian Exchange (NGX) Group, in his
speech said, Nigeria is one of the best investment destinations globally, it is
blessed with abundant human and natural resources.
‘We have vast lands for agriculture and food production, almost every kind
of mineral resource that you can think of, and a large hard-working
populace,” he said.