The Borno state Governor, Professor Babagana Umara Zulum, on Friday commissioned a new three-floor edifice in Maiduguri, tagged Borno Investment House, which is owned by Borno Investment Company Limited.
Before now, the company operated in a rented building since it commenced operations in April 1987, making 35 years of being tenants, the managing director of the company, Mohammed Bukar Umar, said during the commissioning.
The Borno Investment company is fully owned by the state government, established for the purpose of promoting business opportunities by making “quoted and unquoted” investments within and outside the state to stimulate entrepreneurship and industrial growth from local and foreign investments that contribute towards increasing internally generated revenue for the state.
Governor Zulum in July 2019 appointed Umar as the company’s new MD, and afterwards approved funds for the company to build an investment house to end its years of rent payments.
Umar explained to the governor that the company “is using the whole of third floor which has offices, a boardroom, library, registry and tea rooms for its operations, while it intends to rent out the first and second floors to corporate companies that will become tenants.”
During the commissioning, Governor Zulum eulogised the managing director for what he described as “his extreme dedication to duty with integrity.”
Zulum promised continued support to reposition the company to enhance the economy of the state for the benefit of citizens.