The director-general of the Bureau of Public Enterprises (BPE), Alex Okoh, has disclosed that the concession of the Kano free trade zone (FTZ) will bring $2 billion export value by 2027.
He also said the vision for the zone is for it to create jobs, promote exports, improve infrastructure development, boost growth and upgrade skills.
According to a statement by the head of public communication, BPE, Amina Tukur Othman, Okoh stated this on Tuesday when he paid a courtesy visit to Kano State Governor Abdullahi Ganduje.
The statement quoted him as having said that the Kano FTZ will become the destination choice for agri-business, leather and textile companies.
He also said the federal government plans to transform two FTZs from their current poor state into world standards and that the rationale for the proposed reform arose from poor and inadequate infrastructure, poor investment attraction and low capacity utilisation.
Okoh noted that the concession strategy involves “no divesture 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.
He therefore called on the state government to participate in the concession by partnering with other private sector firms as a consortium with the state equity not exceeding 24 percent.
Responding, Ganduje pledged the support and commitment of his administration towards the planned concession, pointing out that it was timely and would boost trade in the state and Nigeria at large.
