TheCable

Alex Okoh, the director-general of the Bureau of Public Enterprises (BPE), says concession of the Kano free trade zone (FTZ) will bring $2 billion export value by 2027.

Okoh spoke on Tuesday when he paid a courtesy visit to Abdullahi Ganduje, governor of Kano.

He expressed optimism that the Kano FTZ will become the destination choice for agri-business, leather and textile companies.

Amina Tukur Othman, head of public communication at the BPE, in a statement, quoted him as saying the zone is further visioned to create jobs, promote exports, improve infrastructure development, boost growth and upgrade skills.

Okoh also said the federal government plans to transform two FTZs from their current poor state into world standards.

According to him, 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 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.

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.

On his part, 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 and Nigeria at large.