FG unveils gold souk to revamp revenue generation in Kano
AREWA AGENDA – The Federal Government on Thursday commissioned a gold souk in Kano to diversify the nation’s economy through non-oil sector.
The Guardian Newspaper reports that with the unveiling of the souk, Nigeria’s extractive industry would be further enhanced, especially with local process of gold into jewelries, bangles, straps, earrings, necklaces, pendants and other metal works.
Minister of Mines and Steel Development, Mr. Olamilekan Adegbite , while inaugurating the multi-million-naira facility at Batakayr Village in Kumbotso Local Council of Kano State, said the unveiling of Gold Souk International Trading Centre was a milestone achievement of President Muhammadu Buhari administration.
He said that apart from creation of wealth and job generation, the gold processing market remains another sustainable project that would strengthen the downstream value-chain of specific solid minerals in the country.
Read Also:
The minister, who was represented by the Permanent Secretary at the ministry, Dr. Oluwatoyin Akinlade, said the souk would now legitimate gold trading transactions in Kano State, adding that the state will henceforth attract reputable international inflow with many ancillary businesses that will boost the country’s economy, create jobs and bring prosperity to Nigeria.
He hinted that the choice of the project for Kano, which invariably serves the entire North-West, is obviously strategic, considering the status of Kano as a hub for the famous trans-Saharan gold trade route.
“The fact that a huge percentage of this trade is unaccounted for, made it imperative to address the challenge by providing necessary facilities that will formalise the trade and bring greater benefits to the people.
“This edifice was, therefore, designed with the past, present and future in view, with all necessary facilities to provide users with quality services and global best practice experience. It is expected to help genuine operators and their clients transact their businesses smoothly in a befitting environment and discourage illegal gold trade,” Adegbite stated.
