By Ibn Usman Abubakar
The Director of the Kano Free Trade Zone (KFTZ), Mal. Musa Muazu Sahabi, has lamented low manufacturing activities in the zone amidst increasing trade.
Sahabi made the disclosure on Wednesday in Kano at the ongoing Investors/Stakeholders Forum 2024 themed “Understanding the Concept and Operations of Special Economic Zones Scheme”.
He emphasized the pivotal role of Special Economic Zones in driving Nigeria’s economic progress, noting that the forum aimed to brainstorm, collaborate, and proffering solutions to the challenges faced by the zone.
“We want to ensure smooth operations and propose workable solutions to any issues,” Sahabi noted.
The Director emphasized the need for real industrial investment rather than just trading, saying “Many investors see this as a terminal for trading, but it’s an industrial zone”.
“Our goal is to encourage manufacturing and enterprise creation to generate jobs for our youth, which is the essence of the scheme, ” he added.
On revenue, Sahabi revealed that, “This year, we generated about N1.18 billion Naira, the highest since 2014. Customs also generated over four billion Naira from the Zone, showing the impact of our efforts”.
Sahabi expressed confidence that the discussions and presentations would offer valuable insights to propel investments forward while the zone will adhere to global best practices for its continued success.
He also reaffirmed Kano Free Trade Zone’s commitment to the Federal Government’s Ease of Doing Business policy, urging participants to engage openly and address any challenges.
Speaking, Prabhu Dorai, an investor with multiple companies in the KFTZ, highlighted the zone’s positive impact on his agro-export and plastic recycling businesses.
“Our recycling operation is one of the largest in northern Nigeria, with a capacity of around 18,000 tonnes. The Zone has been extremely supportive,” Dorai said.
When asked about challenges, Dorai mentioned power supply as a concern but noted ongoing efforts by the Zone to improve it.
Read also:SEC: Banks, others raise N2.7tn in capital Market
“Apart from NEPA, we’ve had no major issues, especially since we focus on exports, which shields us from exchange rate fluctuations,” he added.
He also emphasized the zone’s role in promoting international trade, asserting that, “Free zones are meant to encourage exports, and that’s exactly what we do. Despite minor logistics issues, the current exchange rate has worked in our favour”.
Abdul Rashid Nasidi, Chairman of SSD Commodities, Shaban Chemical and Foods, and Silver Zinc commended the effort of the Zone towards seamless business transactions.
He also encouraged business communities around the state to come together and seize the opportunity of the Zone to be able to create jobs for the youth.
