Mr Alex Okoh, Director-General, Bureau of Public Enterprises (BPE), has said that the concession of the Kano Free Trade Zone (KFTZ) will attract an export value of two billion dollars by 2027.
This is according to a statement by Amina Othman, Head, BPE Public Communications, on Tuesday, as reported by the News Agency of Nigeria. Othman gave the explanations after a meeting between the BPE boss, the Ministry of Trade and the Kano State Governor, Abdullahi Ganduje.
The Free Trade Zone would accommodate companies in the agriculture and textile space. Hides and skin processing into leather goods was also cited as one of the activities that can be done in the Kano Free Trade Zone.
It would also be a major processor of key agricultural goods such as grains and tomatoes and would be used to promote exports and infrastructure development in Kano.
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Mr Okoh stated that a concession would require the government’s “no divesture of shares in any form,” urging Kano State to participate in the concession by partnering with other private sector firms as a consortium with the state equity not exceeding 24 percent. He cited that the 262,01 hectares of land being occupied by the KFTZ was yet to be perfected as well as additional hectares of land.
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Nairametrics reported this week that the Senate Committee on Trade, Industry and Investment stated that the Dangote, Lekki, Alaro City, and the Lagos free zone (Lekki mega free zone quadrant and the Eko Atlantic free zone) will significantly improve the lives of Nigerians and the country’s GDP when fully operational, adding that billions of dollars have already been attracted to the Lekki Free Trade Zone.