Halilu Malabu, ADIPA Project Coordinator, explained that the meeting was in response to requests from existing investors seeking to scale their businesses beyond self-funding limits. “We recognized that lenders, including banks, have funds earmarked for such growth, yet awareness among investors remains limited due to a lack of information,” Malabu said. He highlighted ADIPA’s role in facilitating these essential interactions to advance mutual interests for Adamawa State’s economic prosperity.

The roundtable offered investors insight into accessing credit facilities without relying on connections or engaging in corrupt practices. With banks present, investors could ask questions and receive direct clarifications on credit accessibility. Malabu pointed out that many lenders have targets for fund disbursement, which can only be met if businesses fulfill the minimum requirements. “I’m pleased to see that everyone here is satisfied with the discussions and eager to explore new growth avenues,” he noted.

To ensure continued progress, ADIPA has established a follow-up mechanism to track commitments between investors and lenders. Malabu announced plans for two additional sessions, with the second scheduled for December, allowing ADIPA to review outcomes and celebrate achievements.

Franka from Union Bank praised the state’s initiative to bridge the gap between lenders and investors. “Union Bank is committed to supporting agriculture and other sectors. We’ve established a dedicated agricultural desk to assist investors in this field,” she stated, expressing confidence in the impact of these connections on business relations.

Ibrahim Modibbo, Deputy President of the Adamawa Chamber of Commerce, and Yunusa Ibrahim, Chief Operating Officer of the Adamawa State Agricultural Business Support Program, commended ADIPA for creating a valuable platform that strengthens the state’s business ecosystem.

The session concluded with a Q&A segment, allowing further clarity on how investors can maximize available resources to stimulate economic development in Adamawa State.

Adamawa State has embarked on a series of ambitious Public Private Partnership (PPP) projects aimed at enhancing the socio-economic development of the state. Below is an overview of the current projects:

PROJECT CLIMATE SCREENING ASSESSMENT REPORT

PROJECT NAME: Adamawa State Mass Transit Programme
SECTOR: Transport
PROJECT COST: Two Hundred Million Naira Only
LOCATION: Nation & State wide

ASSESSMENT DOMAINS AND REMARKS

1. Primary Purpose of the Project

• The primary purpose of the Adamawa State Mass Transit Programme is to provide efficient means of transportation within and outside the state, facilitating the movement of people, goods, and services.

1. Alignment with the Country’s National Climate – Change Mitigation and Adaptation Target

• The project aligns with Nigeria’s Climate Action Plan (NCCP, 2021) by incorporating climate change mitigation measures in its design, aimed at minimizing greenhouse gas (GHG) emissions.
• The initiative supports Nigeria’s goal of achieving net zero GHG emissions between 2050 and 2070.

1. Contribution to Greenhouse Gas (GHG) Emissions

• The Mass Transit Programme is associated with GHG emissions from the vehicles’ exhaust systems.
• The vehicles in the programme consume significant amounts of fuel, contributing to GHG emissions in Adamawa State.

1. Mitigation Features that Contribute to the Transition Towards a Net-Zero Future

• Conversion to Compressed Natural Gas (CNG): Existing vehicles will be converted from conventional fossil fuel usage to CNG, which is a cleaner alternative.
• Procurement of New Vehicles: New vehicles that consume less fuel and are CNG-compliant will be introduced, reducing emissions.
• Traffic Congestion Reduction: The mass transit system is expected to decrease traffic congestion, as many people may prefer using mass transit over personal vehicles, thus reducing overall emissions.
• Introduction of Clean Energy Vehicles: The program will include new vehicles powered by clean energy sources such as CNG, biofuel, and electric vehicles, further contributing to emission reductions.

These initiatives are part of Adamawa State’s commitment to sustainable development, aligning with national climate goals while addressing the transportation needs of its citizens. The projects aim to enhance infrastructure, reduce environmental impact, and promote economic growth through strategic partnerships and innovative solutions.

Download the report here