The Kebbi State Government is expected to sign a $14bn Memorandum of Understanding (MoU) with 43 companies as it unveils the 61st edition of the Argungu international fishing festival.

The State’s Director General of Kebbi Investment Promotion Agency, Muhammed Kabiru Kamba disclosed this during the unveiling of the 61st edition of the 2026 Argungu International Fishing and Cultural Festival.

He said 42 companies have shown interest to invest in mining, agriculture, tourism, housing, lithium battery production and establishment of an electric motor manufacturing company in the state.

“42 investors from the U.S, UAE and other parts of the world are to sign an MoU with Kebbi State in the areas that have direct impact on our state’s economy”, he said.

He added that one of them is the electric motor company that will be manufacturing electric cars, electric motorcycles and solar panels.

The DG said another company is investing $4.9bn in the exploration of iron ore, another with $4bn in the agriculture hub of Yauri while there are others on renewable energy worth $7m.

“In all these, we are signing an MoU worth over $14bn because the investments tallies with the state’s development plan”, he said.

He said Kebbi is also using the Argungu fishing festival to attract investment in areas of culture, inland dry Port and others because it offers the best investment opportunity for investors and With the superhighway under construction will make it easy for goods and services to be moved from Lagos to kebbi directly.

While declaring the fishing festival open, the Deputy Governor and the Chairman of the Main Committee of the Fishing Festival, Senator Umar Abubakar Tafida, described the state as resource-based, investor friendly and investment driven.

He said Kebbi is also an agriculturally and tourism driven investment hub with incentives and strategic market position.

“The State is a prime destination for investors, targeting solid minerals and agribusiness, with abundant natural resources as well as strategic geographic position linking key Nigerian and regional markets”, he said.

He said Governor Nasir Idris has remained steadfast and visionary to welcome and partner with international investors and tourism developers within a conducive world class hospitality. “It’s a potential platform for tourism, economic growth, historic bridge and national pride”, the deputy governor said.

The Guest Lecturer, Professor Dahiru Muhammad Argungu, presented a paper entitled, ‘Sustaining Heritage, Promoting National Cohesion and Driving Growth, Argungu International Fishing and Cultural Festival, 2026’.

He advocated the establishment of a permanent Argungu Fishing Festival Development Commission, to develop the event to full potential and retain its position as the most popular festival on the African Continent.

Bunza said the visit of the Sultan to Argungu in 1935 marked the beginning of the Argungu fishing festival. “There is a need for a Trade fair where investing companies can display their products.

“Institutes and the media should also establish their base where they could reach the world during the event” he said.

He added that all performers such as fishermen and farmers and partnering companies should be carried along to sustain it.

He said over N2bn was expended on the 2026 fishing festival because of its peace keeping and cultural exchange potentials between the state and people coming from neighbouring countries of Niger,Benin Republic, Burkina Faso, Mali, Senegal and others with links with the state through the water and land.