The economic landscape of Kano State is facing significant upheaval as investors grow increasingly wary of committing funds due to the ongoing demolitions carried out by the administration of Governor Abba Kabir Yusuf.
An investor, Dr Olashugbomi Oguntayo Olajide, who is into Imports and Exports explained that the surge in demolitions has created an atmosphere of uncertainty, prompting concerns about the stability and investor-friendliness in the State.
Olajide further elucidated that, while the government claims that these measures are necessary to restore order and urban planning, the frequency and scale of the demolitions have raised concerns among investors.
The continuous demolitions of these structures established by the previous administration have left investors feeling vulnerable and uncertain about the future of their investments.
He pointed out that, as the demolitions continue, the Kano State government faces the daunting task of restoring trust, rekindling investor confidence, and revitalizing the local economy.
“The coming months will prove crucial in determining the future trajectory of Kano‘s economic landscape and its ability to attract and retain investments,” he said.
Olajide said they have invested in States like Kaduna, Abuja, Lagos and Rivers states as to improve the economy of these states but, the situation in Kano is unfriendly and scares investors from coming to the north any more.
Over the past two weeks, the Kano State government, under the leadership of Governor Abba Kabir Yusuf, has embarked on a series of demolition exercises targeting properties deemed illegal or unauthorized by the previous Governor Abdullahi Umar Ganduje-led administration.
It would be recalled that Governor Abba Kabir Yusuf’s administration has reiterated its commitment to urban development and the need to enforce regulations. The government has emphasized its intention to create a well-planned city that meets international standards.
