The Sokoto state governor, Aminu Waziri Tambuwal, has on Wednesday laid the foundation stone for the construction of a $13 million fertilizer blending plant by OCP Africa Fertilizers Nigeria Limited.
The plant was situated in an industrial layout in Kalambaina area, an outskirts of the state capital.
Tambuwal said the company with a production capacity of 200,000 metric tonnes per annum, would be guaranteed 100% Return on Investment (ROI) in terms of contract that the state government will award it for the purchase of its products in like sum, once the company completed its plant and commence operations July next year as scheduled.
Tambuwal noted that the contract will enable the company to recoup its investment in the first year of its operations.
The governor said the gesture is part of the administration’s objectives to attract genuine local and foreign investors to the state.
He enumerated its package of incentives as provision of infrastructural facilities at industrial layouts, easy access to land, tax holidays, as well as joint venture partnership.
In this regard, OCP Africa has started benefitting from the state government’s incentives with the granting of a piece of 10 hectares land and its certified title deed (Certificate of Occupancy) to it by the state government in less than 24 hours last year.
Tambuwal hinged his administration’s drive in this direction to the fact that countries of the world are gradually gravitating towards no boil revenues thus the need for the state government to focus on the development so as to decrease dependence on oil with a view to increase internally generated revenue IGR.