Nigeria is expected to earn about $2 billion from exports value after the planned concession of the Kano Free Trade Zone (KFTZ) by 2027, according to the Director-General of the Bureau of Public Enterprises (BPE), Alex A. Okoh.
Okoh, who spoke at during a visit to Kano State Governor, Abdullahi Ganduje said that the KFTZ would also become the destination of choice for agri-business, leather and textile companies.
The BPE chief said the zone would be the largest processor of hides and skins and integrated leather apparel & goods processing and major processor of key agricultural goods grains, tomatoes, integrated textile and garment manufacturing.
He said the KFTZ was visioned to be a fully integrated and reliable supplier network, Partner of choicewith large agri-business companies and integrated and strong logistics and distribution capabilities to urban centres in the South.
The Zone is further visioned to create jobs, promote exports, improve infrastructure development, boost growth and upgrade skills, noting that the Federal Government plans to transform two of its two FTZs from their current poor state into world standards.
He said the rationale for the proposed reform arose from poor and inadequate infrastructure, poor investment attraction and low capacity utilization and that the concession strategy involves “no divesture of shares in any form.”
The Bureau, the DG said had in the past adopted the strategy for some of its key national facilities which are performing well and contributing massively to Nigeria’s economy.
The Director-General 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.
Kano State, Ganduje pledged the support and commitment of his administration towards the planned concession of the KFTZ.
The Governor noted that the concession of the facility was timely as it would boost trade in the state and Nigeria at large.
The delegation was led by the Minister of the Federal Ministry of Industry, Trade and Investment, Niyi Adebayo, represented by the Permanent Secretary in the Ministry, Nasir Sani Gwarzo, the Director-General of the Bureau of Public Enterprises (BPE), Alex A. Okoh, the Head, Kano Free Trade Zone in the Ministry, Yagana A. Hassan and Director, Infrastructure & Public Private Partnership (I &PPP) at the BPE, Amaechi Aloke.