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Kano Earmarks N500m to Revamp State Owned Moribund Industries

By Maxwell Adeyemi Adeleye

 

The Kano State Government has set aside N500 million as intervention fund for small and medium moribund industries, an official said on Thursday.
The state Commissioner for Commerce and Industry, Alhaji Rabiu Bako, disclosed this when he visited the Kaura Macaroni Company, Kano, makers of Kaura Macaroni and biscuit.
He said that the state government was determined to revamp ailing industries for economic development.
Bako said that the government had selected 50 small and medium scale industries for support to return them to full business.
He also said that the government had begun discussing with the Bank of Industry (BoI) to assist some of the industries with loans.
“This will enable us to support some of the ailing industries to return to operations and contribute to the economic growth of the state.
“The measure will also go a long way to reduce unemployment particularly among the youth,’’ he said.
The commissioner commended the Kaura Macaroni Company for repaying a loan it acquired, and gave the assurance that the government would give the company necessary support to resume full operations.
“We will visit all the selected 50 companies to see things for ourselves and device ways of assisting them,” the commissioner said.
Responding, the company’s Production Manager, Alhaji Umar Sani-Marshal, said that the company, established about 30 years ago, had the capacity to produce 3, 000 metric tonnes of macaroni per day.
He said that the company had to lay off some workers due to economic challenges.
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