Governor Mala Buni of Yobe, has approved a partnership with NeximBank, under the state export development facility, to establish sesame seeds processing and gypsum plasterboard production plants in Damaturu, the state capital.
The Commissioner for Commerce, Industry and Tourism, Barma Shettima signed the memorandum of Understanding, MoU, on behalf of Yobe government at NEXIM Bank Headquarters, Abuja.
Shettima, at the occasion pointed out that Yobe has comparative advantage in agro-allied and vast deposits of high premium solid minerals.
He added that government was determined to exploit the potentials through industrialization and export promotion, starting with Sesame Seeds and Gypsum products.
According to him, the expected socio-economic impacts of the initiative will include job creation, reduction in youths’ restiveness, empowerment of farmers, increase foreign exchange earnings and enhancement of non-oil revenues, among others.
The government will organize interactive fora to sensitize potential beneficiaries, to take advantage of financial and technical supports under the MoU.
The Managing Director of the Bank, Abubakar Bello noted that the partnership could not have come at a better time than now when the state government had resuscitated most of the ailing industries.
He noted that Yobe is first among the North-East states to enter into MoU with Nexim Bank for export development.
The Executive Director, Business Development of Nexim Bank, Ms Stella Okotete, explained the State Export Development Facility Operating Guidelines and called on the private sector in Yobe, entrepreneurs, youths and particularly women, to avail themselves with the ample opportunities under the MoU to either start or grow their businesses to greater heights.
Other members of Yobe delegation to the Bank include Barrister Saleh Samanja,
Attorney General and Commissioner of Justice; Mohammed A. Geidam, Permanent
Secretary, Ministry of Finance and Goni Ali Gujba, Permanent Secretary, Ministry of Commerce.
Others were Ismaila Mai Adamu, Director General, Yobe State BPP; Hamza Saidu, Acting Managing Director, Yobe Investment Co. Ltd, and Mrs Amina U. Galadima, Head of Investment and Capital Market.