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Governor Dauda Lawal Set To Unlock Zamfara’s Economic Potentials with Tinubu’s UK State Visit

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By Oladapo Sofowora

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As President Bola Ahmed Tinubu commences his landmark state visit to the United Kingdom the first by a Nigerian leader in 37 years, the inclusion of Zamfara State Governor Dauda Lawal in the presidential entourage is not a fluke; rather, it signals a strategic opportunity for the northwest state to transform its economic fortunes. Beyond the ceremonial pageantry, this high-level diplomatic engagement holds concrete prospects for Zamfara, particularly in agriculture and solid minerals development, sectors where the state possesses a comparative advantage but has struggled to attract meaningful investment. With Governor Lawal working assiduously to generate more IGR for the state and also position it as an economically advanced hub within the region with the construction of a Cargo Airport, this ushers in an era where the state is about to witness a great turnaround championed by Governor Lawal.

The timing of the bilateral engagement between the UK and Nigeria is significant, as the trade surplus between the two countries has reached a record £8.1 billion annually, and both nations are intensifying collaboration under the UK–Nigeria Enhanced Trade and Investment Partnership (ETIP) framework.

According to economic pundits, key sectors targeted for cooperation include trade and investment, energy transition, solid minerals development, and security collaboration – all areas with direct implications for subnational governments like Zamfara. For Governor Lawal, being part of this engagement provides direct access to British investors and development partners that could reshape Zamfara’s economic landscape.

Governor Lawal arrives in London with ambitious development plans to corroborate the budget he presented in December 2024, a ₦861.3 billion budget proposal for the 2025 fiscal year submitted to the Zamfara State House of Assembly, a document he described as “a roadmap for transformation and a declaration that Zamfara will rise stronger.” The budget allocates ₦714.05 billion (83 per cent) to capital expenditure, with sectoral allocations including ₦86 billion for agriculture and significant provisions for infrastructure development. However, these ambitious plans require corresponding revenue streams and investment partnerships to allow them to materialise and reach their full potential.

The governor has been implementing domestic reforms to strengthen the state’s fiscal position. In March 2025, he abolished cash revenue collection across Zamfara, directing all Ministries, Departments, and Agencies to adopt digital systems for revenue collection. His administration set an Internally Generated Revenue target of ₦38 billion to ₦42 billion for 2025, building on 2024’s revenue performance of ₦358.9 billion. With all these impeccable performance indicators, domestic resource mobilisation alone cannot fund the scale of transformation he envisions for the state. The only way to scale up is through Foreign Direct Investment, particularly in agriculture and mining, which represents the missing piece of Zamfara’s development puzzle.

Zamfara State is predominantly agrarian, with the majority of its indigenous population engaged in farming. The state’s favourable climate and vast arable land position it as a potential breadbasket for northern Nigeria. However, the sector remains largely subsistence-based, with limited processing capacity and weak linkages to export markets.

The UK state visit offers opportunities to change this dynamic. British companies have demonstrated growing interest in Nigerian agriculture, as evidenced by Twinings Ovaltine’s £24 million manufacturing facility launch in Lagos its first in Africa creating over 100 direct jobs. Similar investments could be directed toward Zamfara’s agricultural sector, which would be a boost and also create more income for farmers in the production of specific crops with value-addition potential. These include:

Zamfara lies within Nigeria’s cotton belt, but the state lacks ginning and textile processing facilities. Partnerships with British textile companies could establish local cotton processing capacity, capturing value currently lost to exports of raw lint. Groundnut is also a major export commodity from northern Nigeria, but production has declined due to neglect of the sector. British confectionery and food processing companies represent potential off-takers for processed groundnuts.

With growing demand for animal feed and industrial starch, Maize and Sorghum crops offer processing opportunities. British agribusiness firms with expertise in agro-processing could establish milling and processing facilities in Zamfara.

With Sesame Seeds already an export crop, sesame production could benefit from improved processing and certification to meet international standards, particularly for the UK market.

For Zamfara, “opportunities for Nigerian businesses” translates directly to potential agricultural partnerships that could modernise farming practices, establish processing infrastructure, and create export linkages.

Perhaps the most significant potential gains for Zamfara lie in the solid minerals sector. The state is renowned for its gold deposits, which have historically attracted both licensed operators and illegal miners. However, the sector has been characterised by informality, environmental degradation, security challenges, and loss of revenue to the state.

Recent developments at the federal level underscore the growing importance of the minerals sector. The Federal Government recently announced the commencement of operations at a high-purity gold refinery in Lagos – a private-sector initiative led by Kian Smith in partnership with UAE-based Suvarna Royal Gold Trading. For Zamfara, this means advocating for gold processing facilities within the state, not merely exporting overseas, but creating a gold refinery which helps create more jobs within the mining value chain. Governor Lawal’s presence in London provides an opportunity to position Zamfara as a preferred location for one of these gold refineries, particularly with British investment partners.

In a bid to redefine the regulatory framework and investment readiness, Zamfara has been taking steps to create an enabling environment for mineral investment. In February 2025, the Federal Ministry of Solid Mineral Development, in collaboration with the Zamfara State Mineral Resources and Environmental Management Committee (MIREMCO), convened a stakeholders’ meeting with quarry operators, mineral processors, and gold dealers to promote safety and regulatory compliance. The Federal Mines Officer in Zamfara State emphasised that both the federal and Zamfara State governments are determined to promote responsible mining practices that enhance security, safeguard the environment, and ensure that solid mineral resources contribute meaningfully to economic development.

This regulatory clarity is essential for attracting foreign investors. British mining companies and equipment manufacturers require assurance that their investments will operate within a predictable legal framework. The UK–Nigeria ETIP discussions in London provide a platform for Governor Lawal to articulate Zamfara’s investment readiness and regulatory improvements directly to potential partners.

No discussion of Zamfara’s economic potential can ignore the security challenges that have plagued the state. Banditry, kidnapping, and community conflicts have disrupted farming, hindered mining operations, and deterred investment. Governor Lawal’s 2025 budget allocates ₦45 billion to public order and safety, recognising that security is foundational to economic development. The UK visit offers opportunities for security collaboration. Improved security cooperation between Nigeria and the UK could translate to enhanced capacity to protect farming communities and mining sites, creating conditions for agricultural and mineral investments to flourish.

As Governor Lawal engages with British investors and policymakers, he would do well to study how other resource-rich regions have successfully attracted investment while ensuring local benefits. For Zamfara under Governor Lawal, the lesson is clear: attracting investment in extraction must be accompanied by deliberate strategies to build local processing capacity. Simply exporting raw gold or agricultural commodities perpetuates the “resource trap” that has left many African regions impoverished despite abundant natural wealth.

If Governor Lawal’s participation in the UK state visit yields tangible results, Zamfara could experience, in agriculture, British investment in agro-processing facilities, creating jobs for local farmers and capturing value from crops like cotton, groundnuts, and sesame. Technical partnerships to improve farming practices and access to UK markets for certified organic or fair-trade products.

In solid minerals, partnerships with British mining companies for responsible gold extraction, potentially including a gold refinery within Zamfara. Technical assistance for artisanal miners to formalise operations and improve safety. Investment in environmental remediation of degraded mining areas.

For Zamfara State, Governor Lawal’s inclusion in the presidential entourage transforms a diplomatic milestone into a concrete opportunity for subnational economic development. The state’s abundant agricultural land, mineral wealth, and a population eager for economic opportunities hold immense potential. The journey from potential to prosperity is long, but it begins with a single step or in this case, a transatlantic flight carrying Zamfara’s hopes to the corridors of British power and finance.

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Economy

FG Urges Investment in Youth, SMEs and Local Industries to Grow Economy

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Investment

Nigeria investment in youth and local industries is vital to job creation, says FG, urging public-private partnerships and regional industrialisation

The Federal Government has called for increased investment in youth development, small and medium-sized enterprises, technology and local industries to create jobs and strengthen Nigeria’s economic competitiveness.

Also read: Osun amotekun dismisses officer over gross misconduct

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The Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, made the call during a panel discussion titled “From Trade to Value Chains: Building Regional Industries to Compete Globally” at the 32nd Nigerian Economic Summit, held under the sub-theme, “Invest Nigeria”.

In a statement issued on Tuesday and signed by his Special Assistant on Digital Media and Public Diplomacy, Raphael Oni, Enikanolaiye said Nigeria needed stronger partnerships between the public and private sectors to mobilise the capital required for sustainable economic growth.

He argued that the country must move beyond trading raw materials towards building industries that process local resources into finished products for domestic consumption and export.

According to the minister, investment from both domestic businesses and foreign sources would be necessary to expand industrial capacity, create employment opportunities and improve living standards.

“In advancing our country, we don’t talk enough to one another in terms of constructive conversation and dialogue. We believe that partnership which allows government to engage deeper and stronger with the private sector is critical. Government alone cannot alone raise the resources needed for shared prosperity,” he said.

Enikanolaiye added that domestic capital mobilisation was as important as attracting foreign investment.

He identified Nigeria’s youthful population as a major asset that could accelerate industrialisation if supported by investments in education, skills development, innovation and entrepreneurship.

“Our youth population is very critical – a vibrant population. We need to invest more in human capital, focusing on Small and Medium Scale Enterprises, technology, innovation and creativity. By so doing, we will be able to generate more employment for the youth and also raise more wealth and income,” he said.

On foreign policy, the minister said the administration had reordered its four-point 4D doctrine to place the welfare and prosperity of Nigerians at the centre of the country’s international engagements.

The framework focuses on Demography, Development, Democracy and Diaspora.

Enikanolaiye said democratic governance should produce tangible economic benefits for citizens rather than remain an end in itself.

“Democracy is good, but it is a means to an end, not an end in itself. Democracy must deliver on core priorities of economic development and economic prosperity to our people,” he said.

The minister also emphasised the importance of macroeconomic stability and reliable economic data in helping businesses assess investment opportunities and make long-term plans.

He said Nigeria had recorded improvements in macroeconomic stability and that inflation was coming down, although he did not provide supporting figures in the statement.

Enikanolaiye further called for reforms to make the Ministry of Foreign Affairs more responsive to Nigerians and strengthen its engagement with businesses.

He said cooperation between the government and private sector, alongside partnerships with neighbouring countries and other international markets, could help Nigeria expand its industrial base and improve its access to regional and global markets.

Also speaking at the summit, the President of the Economic Community of West African States Commission, General Birame Diop, called for greater emphasis on industrialisation to create jobs and strengthen regional trade.

His remarks were delivered by the ECOWAS Commissioner for Economic Affairs and Agriculture, Dehpue Yenpea Zuo.

Diop argued that trade agreements alone could not deliver widespread employment and economic growth without industries capable of processing raw materials and producing goods.

“Trade agreements do not create jobs; industries do,” he said.

He noted that intra-African trade accounted for about 15 per cent of the continent’s total trade, compared with more than 60 per cent in Europe and Asia.

He attributed the gap partly to the limited scale of regional industries.

According to Diop, the regional market, with more than 300 million consumers, provides an opportunity for West African manufacturers to expand production before competing across the continent under the African Continental Free Trade Area.

He outlined four priorities for advancing regional industrialisation: implementing existing trade agreements, including commitments on border management; developing value chains in sectors where West Africa has a competitive advantage; improving access to finance for businesses and producers; and measuring progress through jobs created and goods processed within the region.

Also read: Osun amotekun dismisses officer over gross misconduct

Diop said converting trade commitments into productive industries would be essential to expanding employment, increasing regional economic activity and strengthening West Africa’s competitiveness in global markets.

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Economy

Cash Outside Nigerian Banks Rises to N4.92tn

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Cash outside Nigerian banks rose to N4.92tn in September 2026 as Nigeria’s broad money supply increased to N146.6tn, CBN data show

Cash outside Nigerian banks rose to N4.92tn in September 2026, an increase of N48.73bn from the N4.87tn recorded in August, according to monetary data published by the Central Bank of Nigeria.

Also read: UCL: Nico Paz Scores Twice as Como Crush Man United

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The latest figures also showed an expansion in Nigeria’s broad money supply, which increased to N146.6tn in September from N139.09tn in the previous month.

The growth represents an increase of N7.51tn within one month, reflecting a broader expansion in the amount of money circulating across the economy.

The CBN data further showed that narrow money, which consists of currency in circulation and highly liquid deposits, rose to N44.05tn in September from N43.11tn in August.

Cash held outside banks refers to physical currency kept by individuals and businesses rather than within the banking system.

Broad money, by contrast, covers a wider range of monetary assets, including cash, demand deposits, savings and time deposits, as well as foreign currency deposits.

Nigeria’s broad money supply increased by 18.3 per cent between January and September, rising from N123.95tn to N146.6tn, the data indicated.

The latest increase followed the CBN’s decision in September to reduce its benchmark interest rate by 350 basis points, bringing it down from 26.5 per cent to 23 per cent.

The reduction was reported as the largest cut in the benchmark rate since December 2006.

Despite the rate cut, the Monetary Policy Committee retained the Cash Reserve Requirement for commercial banks at 45 per cent and merchant banks at 16 per cent.

The committee also maintained the 75 per cent reserve requirement on non-Treasury Single Account public-sector deposits.

The Cash Reserve Requirement determines the proportion of eligible deposits that banks must hold as reserves with the central bank.

It is one of the monetary policy tools used to influence banking-sector liquidity and credit conditions.

The rise in cash outside Nigerian banks formed part of the broader increase in money supply.

Also read: UCL: Nico Paz Scores Twice as Como Crush Man United

However, the figures alone do not establish why households and businesses held more physical cash or how much of the increase was driven by spending, savings behaviour or other economic factors.

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Economy

Obasanjo: Policy is meaningless without entrepreneurs like Wale Tinubu

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Obasanjo

Olusegun Obasanjo says government policies require entrepreneurs like Wale Tinubu to translate economic plans into investment, industrial growth and jobs (more…)

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