Private sector investment as a catalyst for sustainable economic prosperity in subnational economies
This is a keynote address delivered at the Katsina State Investment Summit held on 24th November, 2025. Introduction It is both a privilege and an honour to stand before this esteemed gathering — a convergence of minds across generations, leaders, professions, experiences, and economic perspectives. I do not take this moment for granted. Given the […]
This is a keynote address delivered at the Katsina State Investment Summit held on 24th November, 2025.
- Introduction
It is both a privilege and an honour to stand before this esteemed gathering — a convergence of minds across generations, leaders, professions, experiences, and economic perspectives. I do not take this moment for granted. Given the diversity in this room, I will make every effort to speak inclusively, across that spectrum of knowledge and concern.
Today, economic conversations occupy a central place in our national discourse — arguably more than at any point in our recent history. This increased attention is not coincidental. It is born out of necessity — a response to pressing realities that touch every sector, every region, and every household. We are here today not only to talk economics, but to confront economic truths that we ignore at our own collective peril.
Allow me to draw briefly from my own background — both as an economist and as someone privileged to have participated in national development planning. Between 1994 and 1998, I served as the Permanent Secretary of the Economic Office in the Presidency. During that time, I coordinated the activities of the Vision 2010 Committee — a distinguished body that crafted one of the most comprehensive and forward-looking development blueprints in Nigeria’s history.
The Vision 2010 report was ambitious, yet realistic. It identified core developmental priorities and laid out actionable steps toward transforming Nigeria’s economic and social landscape. Sadly, despite the depth, quality, and foresight embedded in that document, it was shelved by successive administrations. The opportunity it presented was lost — not for lack of ideas, but due to our now too-familiar struggle with policy implementation.
- Reflections on policy implementation in Nigeria
That experience — and the many that followed — has left me with a lingering question: why does Nigeria consistently produce excellent plans but rarely implement them?
The answers are complex but not beyond our understanding. Often, the failure lies not in design, but in execution. Some administrations simply lack the political will to pursue long-term reforms. Others are derailed by short-term political interests, distractions, or crises. In many instances, poor stakeholder engagement, weak institutional frameworks, and limited accountability mechanisms undermine policy rollout.
But above all, one recurring factor is political instability. The absence of policy continuity — the tendency to discard one administration’s blueprint for another’s agenda — has severely undermined sustainable development. This cyclical abandonment of long-term plans for short-term gain is a major obstacle to progress.
No nation — and I say this with emphasis — no nation develops by repeatedly setting aside strategic visions in favour of immediate convenience. If we are serious about development, at both national and subnational levels, then policy implementation must become more than a government function — it must become a cultural expectation. It must be our shared commitment, our collective mindset, and indeed, our national ethos.
- A renewed sense of optimism
Despite the many challenges we have faced in the past, I stand before you today with a renewed sense of optimism regarding Katsina State’s current trajectory under the visionary leadership of Governor Dikko Umar Radda. His administration has demonstrated not only courage but also an unwavering commitment to making difficult, yet necessary, decisions that promise to reshape the state’s economic landscape.
The very act of convening this Investment Summit is a powerful testament to an intentional and a forward-thinking leadership. It signals a readiness to engage with stakeholders, harness ideas, and translate discussions into tangible outcomes. I am confident that the insights and recommendations that will emerge from this gathering will not only be heard, but will be transformed into concrete actions. That, in turn, is what will lead to the strengthening of the economic foundation of Katsina State and, ultimately, pave the way for it’s sustainable prosperity.
- Theme of the address
Distinguished guests, the core focus of my address today is “Private Sector Investment as a Catalyst for Sustainable Economic Prosperity in Subnational Economies.”
In an era where national development is increasingly driven by local dynamism, it is critical to recognise and harness the power of private sector investment. Today, I aim to highlight the strategic role that private investment plays in driving growth, creating jobs, and fostering innovation. I will also address the key challenges we must overcome and the unique opportunities Katsina State possesses that will allow it to leverage on this potential and reshape its economic future for the better.
- Katsina State’s strategic advantages
Katsina State is richly endowed with numerous strengths that make it an attractive destination for investors.
– Strategic Location: Positioned along the border with the Niger Republic, Katsina serves as a natural gateway for cross-border trade and regional economic integration. This geographic advantage presents tremendous opportunities to tap into wider markets and benefit from regional partnerships.
– Demographic Dividend: The state’s large and youthful population is both a vibrant consumer market and a substantial labour force, ready to engage in diverse economic activities. This demographic advantage, if effectively harnessed, can fuel productivity and consumption growth.
– Natural Resources: Katsina boasts of abundant and varied natural resources, including fertile agricultural land, livestock, solid minerals, renewable energy potential, manufacturing prospects, and tourism attractions. With the right policies, investments, and infrastructure, these resources can become powerful drivers of inclusive and sustainable economic growth.
Together, these strategic advantages provide a strong foundation for Katsina to attract private sector investments that can spur innovation, diversification, and long-term prosperity.
- Pathways to Sustainable Development
Returning to my earlier point, sustainable development cannot be achieved without a clear vision anchored in long-term planning and consistent execution. To fully unlock Katsina State’s vast potential and embrace emerging opportunities, we must prioritise and sustain focus on three critical pillars that form the backbone of inclusive and sustainable growth.
(a) Economic Diversification: Our reliance on public sector spending must give way to a dynamic, competitive private sector that drives innovation, job creation, and wealth generation. Diversifying the economy beyond traditional sectors will cushion Katsina against external shocks and provide a resilient foundation for future growth.
(b) Human Capital Development: At the heart of any prosperous society is the quality of its people. We must prioritise investments in education, skills acquisition, and healthcare. A well-educated, skilled, and healthy population is not just an asset but a necessity. Prosperity is limited by the capacity and well-being of the people who participate in and sustain economic activities.
(c) Security and Stability: Peace and security are the indispensable bedrocks of investment and development. Without a safe environment where lives and properties are protected, rural productivity will remain suppressed, and investor confidence will falter. Strengthening community security mechanisms and fostering social cohesion must remain a central part of our development agenda. (I hope to return to this important pillar in the next section of this address).
While these pillars are not exhaustive, together they create the essential conditions that attract and retain investment, stimulate economic activities, and ultimately improve the quality of life for all citizens.
- Taming the menace of insecurity
As highlighted earlier, security and stability are the bedrock of inclusive and sustainable development. Historically, no society enmeshed in crisis prospers, and, regrettably, Katsina will not be an exception on this score. This I feel is where we must put all hands on deck.
The insurgency in Northern Nigeria — particularly in Katsina State — is a deeply rooted and multifaceted challenge. It is driven not only by ideological extremism, but also by a combination of socio-economic deprivation, political grievances, and weakened trust in state institutions. While security agencies such as the military, police, and civil defence remain essential in protecting lives and property, relying solely on force cannot bring lasting peace. A more holistic and community-centered strategy is urgently needed — one that addresses both the symptoms and the root causes of the crisis. This approach must include:
(a) Tackling poverty and unemployment, especially among youth, to reduce vulnerability to recruitment by violent groups. I believe the Hausa people call this vulnerable population “sojan bante”.
(b) Expanding access to quality education and vocational training, offering young people meaningful alternatives and a sense of purpose.
(c) Fostering inclusive dialogue and reconciliation between communities and government actors, to rebuild fractured relationships and address long-standing grievances.
(d) Strengthening local governance and combating corruption, thereby restoring confidence in public institutions and reinforcing the legitimacy of the state.
Most importantly, the role of the community must be recognised as central to any sustainable security solution. Local populations are often the first to sense threats and the best positioned to prevent violence before it escalates. By actively involving community members in intelligence gathering, early warning systems, and peacebuilding efforts, we can create a more responsive and resilient security architecture.
Traditional leaders, youth groups, women’s associations, religious institutions, and local vigilantes all have crucial roles to play — not only in safeguarding their environments but also in promoting a culture of peace, vigilance, and cooperation. When communities are empowered, informed, and integrated into the security framework, they become not just beneficiaries of peace, but active agents in its preservation.
- Strengthening the Role of the Private Sector
A prosperous Katsina State is not just a dream — it is an achievable reality within our grasp. However, such prosperity will not be the work of government alone. It demands a robust, innovative, and dynamic private sector that drives economic growth and job creation.
To realise this vision, the government must deepen its engagement with the private sector through effective Public-Private Partnerships (PPPs) that leverage both public resources and private expertise. Supporting Small and Medium Enterprises (SMEs) and fostering a culture of entrepreneurship are equally vital, as these are the engines of innovation and employment.
At the same time, we must actively remove barriers that stifle business growth and limit investment. To achieve this, the following must be ensured:
(a) A transparent and predictable regulatory environment: Investors and entrepreneurs need clarity and consistency in policies and regulations to plan confidently and operate effectively.
(b) Targeted incentives within reach: Well-designed incentives — fiscal, financial, or infrastructural — that specifically address the needs of different sectors and businesses can stimulate growth and attract investment.
(c) Efficient service delivery: Streamlining government services, reducing bureaucratic red tape, and embracing technology to enhance efficiency will improve the business climate dramatically.
(d) Recognition of private sector contributions: Celebrating and acknowledging the role of private investors and entrepreneurs encourages continued engagement and strengthens the partnership between government and business.
Implementing these reforms and strategies will significantly strengthen Katsina’s position as an investment-friendly state, capable of attracting and sustaining private sector activity that drives economic diversification and prosperity.
- The Role of Katsina State Citizens
Development is not a journey for government alone; it requires the active participation and engagement of the people. In fact, true progress cannot be achieved without placing citizens at the very center of the process.
This is a clarion call to the good people of Katsina: to support socio-economic progress by patronising local goods and services, investing in thriving businesses, offering innovative ideas, promoting peace and stability, and constructively holding leaders accountable. Development is a two-way street, requiring collaboration and shared responsibility between leaders and citizens.
At the same time, our people must be made to view governance as trustworthy, just, accountable, proactive, and transparent. They need to see that their leaders are genuinely listening and that reforms are data-driven, purposeful, and designed to improve their lives.
As leaders, we bear the responsibility to earn this trust. We must demonstrate focus, empathy, and compassion in our leadership, giving citizens every reason to believe in our capacity to steer the state towards a better future.
A united and economically active population sends a powerful message to investors: it signals seriousness, stability, and resilience. It strengthens community bonds and lays a strong foundation for sustainable economic growth.
That said, no matter the level of unity, resilience, or social cohesion within our communities, investors ultimately require a secure and predictable environment in which to operate. Security is therefore not only a government responsibility — communities have a crucial role to play in creating and sustaining a safe space for investment and development. The following community-led initiatives are essential in this regard:
(a) Early Warning and Rapid Response: Local communities must be empowered and supported to take the lead in providing early warning. With appropriate training and coordination, they can detect, document, and report potential threats through structured early warning systems. This proactive engagement allows for timely responses and helps prevent violence before it escalates.
(b) Support for Internally Displaced Persons (IDPs) and Vulnerable Groups: Communities can mobilise resources and local networks to provide humanitarian assistance and psychosocial support to IDPs and other at-risk populations. Beyond immediate relief, they can also facilitate reintegration and social inclusion for displaced persons returning home.
(c) Collaboration with Security Agencies: While there may be lingering mistrust between citizens and security forces, bridging this gap is critical. Encouraging constructive partnerships — where communities share intelligence and security agencies uphold professionalism, transparency, and human rights — is key to improving operational effectiveness and rebuilding public confidence.
(d) Peacebuilding and Conflict Resolution: Given that community members are often the most affected by insecurity, their direct involvement in peacebuilding is essential. Grassroots initiatives that promote peace education, non-violent conflict resolution, and dialogue — especially among youth and traditional leaders — can foster lasting stability from within.
When these initiatives are community-driven and locally owned, they help address the underlying socio-economic and ideological drivers of violence. By empowering communities to become active participants in the security and development process, we create a more inclusive, peaceful, and investable environment for all.
- Conclusion
In closing, let me once again emphasise the vital importance of shared responsibility. Ladies and gentlemen, Katsina State stands at a defining crossroads — a moment filled with immense potential and equally significant challenges.
The opportunities before us are vast, but the choices we make today will determine the prosperity of generations to come. We must seize this moment with unity, determination, and a collective sense of purpose.
By prioritising quality education, nurturing private enterprise, strengthening our institutions, building public trust, and forging strong partnerships, we can create a resilient and competitive economy that delivers inclusive growth and tangible benefits to every citizen.
It is only through the combined efforts of government, the private sector, and the people of Katsina that we can realise the vision of a prosperous state — one where opportunities abound, innovation thrives, and sustainable development is a lived reality.
Together, let us build a Katsina that not only meets the challenges of today but also boldly embraces the promise of tomorrow.
- Appreciation
I sincerely thank you all for your attention and astute engagement. I also commend the organisers of this Summit for their vision, dedication, and commitment to advancing the economic development of Katsina State.
May God bless Katsina State,
May God bless Nigeria,
And may He guide us all in our collective efforts to build a better, brighter future.
Senator Ida, LLB, BL., Ph.D., CON, is the Wazirin Katsina