The Kano Free Trade Zone has announced a staggering increase in revenue, raking in over N18 billion thanks to the efforts of the Nigeria Export Processing Zones Authority (NEPZA) and the Nigeria Customs Service.
At the recent Kano Free Trade Zone Investors and Stakeholders Forum, NEPZA Managing Director Olufemi Ogunyemi proudly claimed that the authority generated an impressive N1.8 billion, while Customs reported N17 billion in revenue from January to October. These figures are being touted as proof of the zone's supposed capacity for driving non-oil industrialization.
The forum, with its grand theme of “Strengthening Partnerships for Efficient Service Delivery in the Free Trade Zone,” did little more than bring together investors and regulators for a two-day workshop filled with discussions that many might consider mere formalities.
Ogunyemi claimed these revenue figures reflect a surge in investment, boldly declaring that they demonstrate the Kano Free Trade Zone's pivotal role in reshaping Nigeria's economic landscape. But let’s not forget, this is the same region grappling with ongoing challenges that could undermine such growth.
Kassim Ibrahim, the Kano State coordinator for NAFDAC, warned of the dire consequences of poor safety and quality standards in food and drug production. His cautionary remarks about unannounced inspections seem to highlight a significant problem that could tarnish not just individual companies, but Nigeria’s reputation as a whole.
Richard Bassi, head of the Kano Free Trade Zone, attributed the zone's purported success to collaboration among NEPZA, NAFDAC, Customs, and other agencies. He asserted that “continued teamwork” is crucial for sustaining investor confidence, yet one must question whether this unity translates to real, lasting results or if it's just a feel-good narrative.
The forum is being hailed as evidence of the Federal Government’s commitment to diversifying Nigeria's economy. The much-touted 'One Stop Shop' system is praised for streamlining approvals from various agencies.
