Concessioning Kano Free Trade Zone ‘ll generate $2bn export value- BPE

The Director-General, Bureau of Public Enterprises (BPE), Mr Alex Okoh, says the Kano Free Trade Zone (FTZ)  will bring an export value of  two billion dollars by 2027 after concession.

A statement by Amina Othman, Head, BPE Public Communications on Tuesday explained that Okoh said this when he and officials from the Ministry of Industry, Trade and Investments paid a courtesy call on Kano State Gov. Abdullahi Ganduje.

Okoh also said that the FTZ would become the destination choice agri-business, leather and textile companies.

He said that as part of  achievements of the FTZ, it would become the largest processor of hides and skins and integrated leather apparel and goods processing.

It would also be a major processor of key agricultural goods such as grains and tomatoes.

Okoh said that the zone was further visioned to create jobs, promote exports, improve infrastructure development, boost growth and upgrade .

He added that the Federal Government planned to transform two of its FTZs from their current poor state into world standards.

He said the rationale the reform arose from poor and inadequate infrastructure, poor investment attraction and low capacity utilisation.

According to him, the concession strategy involves “ no divesture of shares any ”.

He said that the bureau had the past adopted the strategy some of  its key national facilities which were performing well and contributing massively to Nigeria’s economy.

Okoh solicited 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 per cent.

He sought the help of Kano State Government with land title (262,01 hectres of land being occupied by the KFTZ that was yet to be perfected as well as additional hectres of land.

He also sought collaboration between the Federal Government and Kano state for the development and maintenance of the external infrastructure surrounding the Zone.

Also, he appealed for continued patronage by the Kano state government by increasing the number of leases it operated currently for various businesses within the FTZ.

Ganduje pledged the support and commitment of his administration toward the planned concession.

He added that the concession of the facility was timely as it would boost trade in the state and Nigeria at large.  (NAN)