ElectricityBy Abbas Bamalli
Kano – Mr Binchan Bifan, the Consultant, Gezawa Commodity Market and Exchange, Kano State, says the company and its partners are making plans to provide their host community with electricity.
Binfan disclosed this when he received members of the State House of Assembly’s Committee on Commerce and Agriculture on an inspection visit on Tuesday in Kano.
According to Binfan, they are partnering with the Transmission Company of Nigeria, (TCN) to bring electricity plants to the community as part of their corporate social responsibility.
He explained that TCN has agreed to do so, while the commodity market also agreed to be responsible for the transmission line.
“Therefore, we want the assembly to facilitate the provision of land by the state government for the electricity plant”.
Binfan added that the Commodity market being constructed would provide no fewer than 15,000 residents of the area with employment, when completed.
According to him, the project which is now about 95 percent completed, is aimed at providing businesses and job opportunities, especially in the area of agriculture.
“We want to collaborate with the State government, the assembly and other stakeholders to achieve these plans, which we are aiming for June this year to complete the project and commence operation of the market.
“Apart from providing huge job opportunities for Kano people, the commodity market which will be the largest in West Africa, will also serve as a source of revenue for the state government.
“The market, which is the first of four phases, will commence function with agricultural commodities, so far there are 468 shops in the market, 420 single and 48 luxury shops,” Binfa said.
He explained that that the shops would be sold to those interested to deepen public participation.
“So far, we have completed two of our warehouses, the one with at least 10,000 hectare capacity and also the other one has 6,000 hectare capacity, also, in the second phase of the market, we are planning to have 20 warehouses with 10,000 hectare capacity each,” Binfan said.
He said the market would ensure price discovery and transparency, providing commodity storage and warehouse receipt system, enhance foreign exchange and investment opportunities for those interested in storage business.
“The domestic projected volume of commodities to be traded on the exchange in the first year is five million bags of maize, 1.5 million bags of Sorghum, two million bags of Millet, one million bags of Beans, Soya beans two million bags, Paddy rice three million bags and groundnuts one million bags.
“While the International projected volume is one million bags of Sesame, 70,000 bags of Hibiscus, 100,000 bags of Ginger and 50,000 bags of Gum Arabic.” he said.
In his comment, the Chairman, House Committee on Commerce and member representing Danbatta Constituency, Murtala Musa commended the development, saying it would assist in reducing unemployment in the state.
He said that their visit was to discuss on ways the state assembly can intervene in supporting the project for the benefit of Kano people.
He assured that the assembly would do everything possible to support the market operations.