Kwara State Governor, AbdulRahman Abdul- Razaq yesterday signed into law a bill establishing the Kwara Investment Promotion Agency (KWIPA), saying it was a bold step to attracting more investors and drive economic growth.
He said the idea was to remove bureaucratic bottlenecks, with the agency serving as the melting pot for ideas and entrepreneurs wanting to do business with the state. Saying Kwara State is open for business, Abdul- Razaq added that he envisions a state that no longer depends on federal monthly allocations to run government businesses or provide essential services and infrastructure for the people.
The governor signed the bill in the presence of Kwara State House of Assembly Speaker, Yakubu Danladi Salihu; House Leader Olawoyin Magaji; Clerk of the House, Halimah Jummai Kperogi; APC chieftains Yahya Seriki and Musibau Esinrogunjo. The function of the agency includes to “initiate, promote, facilitate, coordinate and create a conducive environment for investments and development in the state”, according to the law.
It would also “coordinate and monitor all investment activities; advice and assist the government in creating an attractive and competitive climate for business that will lead to robust economic activities in the state; source on behalf of the government, finance for investment from multilateral and bilateral development partners as well as private investors, both domestic and foreign through public-private partnerships and other financial arrangements, and where appropriate, act as lead negotiator in transactions with private investors that ensure the needs of the state and those of its citizens are well represented.”