The Niger State Development Company Limited, NSDC, is repositioning its investments to generate more revenue, create jobs, and contribute to the economic development of the state. This move is aimed at transforming the organization's role from simply managing government assets to developing productive and commercially sustainable investments across key sectors of the economy. According to the Managing Director and Chief Executive Officer, Alhaji Hamza Sarki Bello, this strategic shift is crucial for the company's growth and the state's economic development.
Some of the company's major investments include a 42.86% shareholding in Edusoko Microfinance Bank, Bida, and the repositioning of Babba Microfinance Bank, Agaie, through a FinTech transformation initiative. This initiative aims to expand access to financial services, particularly in rural communities. The Managing Director emphasized that these investments are part of the company's efforts to drive economic growth and financial inclusion in the state.
The NSDC has also remodelled its former hotel and suites to a four-star standard in partnership with a private-sector operator, at a cost of one billion naira. This renovation is expected to enhance the hotel's competitiveness and attract more customers. Additionally, the company is developing a proposed DoubleTree by Hilton Hotel in Minna, comprising approximately 150 rooms, which is expected to be completed within 24 months and create direct and indirect employment opportunities.
Another major project is the development of 3,500 lock-up shops at the NSDC International Market and Motor Park in Suleja. This project is expected to provide a modern and organized platform for traders and businesses in the area. The Managing Director explained that the company is committed to creating lasting economic opportunities and is working with stakeholders to unlock the commercial value of state assets.
The NSDC is also exploring prospective investments, including the redevelopment of the old Niger State Liaison Office in Kaduna into a four-star hotel, a proposed Lemon Tree Hotel in Minna, and the NSDC Printing and Packaging Company. Others include an Integrated Agribusiness Hub at Lapai Gwari, Minna, and a proposed bottled water production plant. These investments are expected to drive economic growth and create jobs in the state.
According to Alhaji Bello, all prospective investments will undergo technical, financial, market, and regulatory assessments before implementation. This ensures that the investments are viable and align with the company's strategic objectives. The Managing Director expressed the company's readiness to work with the Niger State Government, investors, financial institutions, and other stakeholders to drive economic growth and create lasting opportunities.
The NSDC's efforts to reposition its investments and drive economic growth have been commended by stakeholders. The company's commitment to creating jobs and contributing to the state's economic development is seen as a positive step towards achieving sustainable economic growth. With its strategic investments and partnerships, the NSDC is poised to play a significant role in shaping the state's economic future.
Key points
- The Niger State Development Company Limited is repositioning its investments to generate more revenue and create jobs.
- The company has remodelled its former hotel and suites to a four-star standard and is developing a proposed DoubleTree by Hilton Hotel in Minna.
- The NSDC is exploring prospective investments, including the redevelopment of the old Niger State Liaison Office in Kaduna and an Integrated Agribusiness Hub at Lapai Gwari, Minna.
