By Modupe Gbadeyanka
Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA) has unveiled plans to use its upcoming fair to improve investment inflow in the country through public-private partnerships.
Second Deputy President and Chairman of Kaduna international trade fair (KITF), Mr Suleiman Aliyu, addressing journalists at a press briefing, explained that recent reports suggest that to address Nigeria’s huge infrastructure challenges would require between $12 to $15 billion yearly for the next six years to meet its infrastructure requirements, adding that it has become evident that the federal government alone cannot muster the resources to meet this need.
He said the fair, scheduled to hold from Friday, February 24, to Sunday, March 6, 2017 in Kaduna, would be used to open up investment opportunities to address the nation’s infrastructure challenges.
“It is no wonder, therefore, that majority of infrastructure projects currently underway at both State and Federal levels are powered by PPPs,” he said.
He said the chamber’s fair tagged ’Promoting public private partnership as panacea for accelerated growth and development’ would explore areas of investment opportunities to complement federal government’s effort to develop the nation’s infrastructure facilities.
“It is our belief that promoting public private partnership (PPP) will go a long way in reducing the addiction on oil and gas by the federal government as the major source of revenue for developmental programme in Nigeria,” he said further.
According to him, preparations for the 38th edition of the Kaduna international trade fair (KITF) have reached advance stage, maintaining that the fair as usual, would attract both local and international participants, contacts with investors, manufacturers, marketers and distributors within and outside the country.
He pointed out that the chamber is in close contact with all relevant ministries, department and agencies (MDAs) at the Federal and State levels. “As we are aware, the Nigerian economy is facing a number of serious challenges which include the problem of dwindling revenue, high exchange rate due to scarcity of foreign exchange, high inflation rate, closure of businesses leading to increase in unemployment, saying that these bottlenecks led to the current economic recession
Adedapo Adesanya