The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh has said that concession of the Kano free trade zone (FTZ) will bring $2 billion export value by 2027.
This is contained in a statement issued by Abba Anwar, the Chief Press Secretary to the governor of Kano state.
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According to Anwar, Okoh made the disclosure when he paid a courtesy call on Governor Abdullahi Ganduje at the Government House, Kano on Tuesday.
He expressed optimism that the Kano FTZ will become the destination choice for agree-business, textile companies and leather industries.
According to the statement, the zone is further visioned to create jobs, promote exports, improve infrastructure development, boost growth and upgrade skills.
“The proposed concession of the FTZs are therefore intended to be used to transform the two FTZs (Kano and Calabar) into world class standard facilities as obtainable in other regions like Asia, etc.
“It will create massive job opportunities for the teeming youth in the immediate locality and to promote exports, attracts foreign direct investment, improve infrastructure amongst other benefits.”
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Okoh said the rationale for the proposed reform arose from poor and inadequate infrastructure, poor investment attraction and low capacity utilisation.
He noted that the concession strategy involves “no divestiture of shares in any form,” adding that the bureau had in the past adopted the strategy for some of its key national facilities, which are performing well and contributing massively to the Nigerian economy.
The BPE DG solicited the participation of the Kano state government in the concession by partnering with other private sector firms as a consortium with the state equity not exceeding 24 percent.
In his remarks, Governor Ganduje pledged the support and commitment of his administration towards the planned concession.
He added that the facility’s concession was timely as it would boost trade in the state in particular and the country at large.
“I am assuring you that as a state we will do our best to see how we can move things to work very well.”
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Ganduje called on all the stakeholders to work assiduously in making sure that the aim is achieved, for the overall development of the state in particular and the nation in general.
Dr Nasiru Sani Gwarzo, Permanent Secretary of the federal Ministry of Trade and Investment, who represented the Minister of Trade and Investment, commended the state government for the commitment displayed.
