Kano Free Trade Zone...
I was reading the Nigerian Guardian newspaper recently and saw a report on the development of a Free Trade Zone in Kano State. I noticed that the Federal Government was to pour in approximately N5 billion into the project and learned that an undisclosed investor had already pumped in millions of dollars to complete the project.
For those of you that are unfamiliar with the term Free Trade Zone ("FTZ" and also known as Free Zone ("FZ")), these zones are simply a designated area created to attract foreign investment and business by offering no taxes, relaxed labor rules, relaxed rules on imports and exports of goods. This tool was used by Dubai to transform itself from a desert rest stop for Bedouin nomads to an economic gateway to the Middle East.
It is from this perspective that I consider the possibilities of a Free Trade Zone in Kano. The free trade zone, called Panisau, is located on 230 hectares of land, has an 11 KVA generator, access roads, internal roads and other facilities. By making it easier for investors to 'set up shop', Kano will quite possibly improve its economy and create jobs and much needed cash flow. There are apparently many plans to rejuvenate Kano - a new dry port at Zawaciki, a multi-billion Singer market, the re-construction and expansion of the Lagos-Kano railroad and the possible rehabilitation of the Mallam Aminu Kano international airport.
Kano is also gearing up to become an arbiter of oil. A pipeline from the Delta region will soon be re-routed from Katsina to Kano. This pipeline will provide the state and a few other West African nations with energy. These new projects in combination with the Free Trade Zone could transform Kano into a gateway to not just Northern Nigeria, but to various north African countries.
As early as the 13th and 14th century, Kano was an economic center and controlled commerce in gold, leather, ivory, salt and unfortunately, slaves. In the modern era, it had a rich history as a producer of groundnuts but eventually witnessed an economic decline in the 1990s which led to an increase in poverty. This FTZ at Panisau could afford Kano an opportunity to re-achieve the economic success of its glory days and it could potentially be of great benefit to the citizens. We shall have to wait and see.
By .
Migrated from AltNigeria.
