The Sokoto State government has said that at least 20,000 people will be directly employed when its 15,000-metric tonnes organic fertilizer plant begins full production in December.
This was made known by the managing director of Sokoto Investment Company, Aliyu Bala, during the signing of a Memorandum of Understanding between the state government and IML limited, the company that has invested in the project.
Bala explained that the state government owns 40 percent stake in the company, while IML Ltd, will hold the remaining 60 percent equity stake.
He noted that the construction of the fertilizer plant has been completed,while finishing touches are being put on auxiliary structures that will support the main plant.
“If you may recall, the State Executive Council recently gave approval for us to acquire equity share in the company and hold same in trust on behalf of the people of Sokoto State. Today’s event is in keeping with that mandate,” he said.
“When fully on stream, this factory will create direct and indirect jobs to almost 20,000 people.
“It will provide job opportunities to both skilled and unskilled professionals, thereby reducing unemployment in the state,” Bala added.
He further explained that the state government opted for a Public Private Partnership, PPP, in setting up the plant so as to ensure its sustainability, and at the same time allow private investors to complement the efforts of the state.
The MD of the Sokoto Investment Company noted that the state government is also exploring more investment opportunities as local and foreign investors have shown interest in investing in various sectors of the state.
The MOU was signed by Bilya Sanda on behalf of IML Ltd, while the Secretary to the Sokoto State Government and the state Attorney General and Commissioner of Justice signed on behalf of the state government.