The United Nations (UN), the European Union (EU), the German government and other development partners have pledged support for efforts to attract private investment to Borno State, as part of moves to create jobs, rebuild livelihoods and speed up the state’s economic recovery.
Key Highlights
- The UN, EU and Germany backed private investment in Borno at the third Borno State Private Sector Engagement and Investment Roundtable in Abuja.
- More than 50 prospective investors attended the Thursday event.
- The EU said grants alone cannot fund Borno’s reconstruction and pointed investors to a proposed Durable Solutions Trust Fund.
- Governor Babagana Zulum promised business-friendly reforms, improved security and incentives.
- Earlier roundtables were held in Lagos and Kano.
The commitment was made on Thursday at the third Borno State Private Sector Engagement and Investment Roundtable in Abuja, which drew more than 50 prospective investors.
Representatives of the development partners said private investment was critical to rebuilding the state, creating economic opportunities and supporting the reintegration of displaced persons.
Development Partners Call For Action
The representative of the UN Resident Coordinator’s Office in Nigeria, Thembekile Dube-Nanbe, urged stakeholders to turn the discussions into concrete action through viable projects, capital mobilisation and sustainable partnerships.
“Let us identify viable investment opportunities, mobilise capital, establish lasting partnerships, and commit to measurable results,” Dube-Nanbe said.
The EU Head of Human Development, Laila Ben Amor Mathieu, reaffirmed the Union’s commitment to Borno, noting its support through humanitarian assistance, stabilisation and recovery programmes.
She stressed that government funding and grants alone would not be enough to finance reconstruction on the scale required, calling for greater private-sector participation. According to her, investors could support the proposed Borno State Durable Solutions Trust Fund or explore commercially viable projects backed by government incentives, including access to land, industrial hubs and tax measures.
Mathieu also encouraged investors to work with local businesses and prioritise projects that create opportunities for women and young people.
“Borno is becoming an investment story. The European Union is proud to be part of it,” she said.
The Head of Development Cooperation at the German Embassy, Karen Jansen, commended Governor Babagana Zulum for restoring communities, rebuilding infrastructure and public services, and reopening the state’s economy to private investment. She said sustained private investment, particularly through blended financing, would be essential to complement development assistance.
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Third Roundtable In Series
The Abuja roundtable is the third in a series of investment engagements initiated by the Zulum administration. The first, in Lagos, focused on financing bankable projects and supporting small and medium-sized enterprises, while the second, in Kano, centred on agriculture, livestock, fisheries and infrastructure.
Zulum Promises Reforms, Security
Governor Zulum, represented by his Chief of Staff, Babagana Mallumbe, assured investors of business-friendly reforms, improved security and government support, saying the state was moving from emergency humanitarian interventions to sustainable economic recovery.
He urged investors to explore opportunities in commercial agriculture, livestock production, fisheries and manufacturing, and called on financial institutions to expand access to credit for small businesses.
“Government’s role is to build the foundation, establish the security, and create the regulatory framework. But the private sector is the ultimate engine of wealth creation, job opportunities, and lasting prosperity,” Zulum said.
The governor disclosed that the Borno State Investment Promotion Agency is simplifying investment procedures through land administration reforms, fiscal incentives and public-private partnership frameworks designed to protect investors.
The state government said the engagement is part of wider efforts to position Borno as an emerging investment destination and accelerate its post-conflict recovery.
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