Kano free trade zone: An unexplored gold
The Kano Free Trade Zone is located on 262 hectares of land at the Panisau area of Ungogo Local Government Area of Kano State. It is a special economic zone where goods can be manufactured or reconfigured and re-exported. It was established in 1998 and its area of specialisation is warehousing, services, logistics and manufacturing. One of its objectives is to allow interested persons to set up industries and businesses within the zone with a major objective of exporting the goods and services manufactured or produced within the zone and to provide an internationally competitive duty free environment for production at low cost.
According to the assistant general manager of the KFTZ, Mr. Abdullahi Sharu Beri, the zone has 19 warehouses, 33 fully registered companies among which 13 are in full operation. He said the zone recorded many achievements after the visit of the Managing Director, Nigerian Export Processing Zones Authority (NEPZA) Emmanuel Jime. Some of the achievements include the allocation of a special intervention fund for the development of infrastructures in the zone, the presence of a joint task force in the zone to enhance its activities, foreign exchange from exports of products to Germany, South Africa, South Korea etc, tremendous improvement on foreign direct investors like China, India, Egypt, etc. The fiscal policy is also in consonance with the policies of the free trade zones. Lastly, Kano State government under the Kano State Pensions Trust Fund is also contributing to the development of the trade zone.
In view of all these, I urge the government to create more awareness on the benefits of the Free Trade Zone as many investors and manufacturers are still ignorant of it. Indeed, they have done well in making sure that Kano Free Trade zone is revived and in full operation as it will help in boosting our economy. The government has also made sure the place is conducive and secure for business by stationing military patrol team at the gate to check what goes in and out of the zone. It is imperative that stakeholders, producers, manufacturers and other foreign investors support these efforts and also seize this life changing opportunity that will improve their businesses and take them to the next level.