According to sources at the Kano branch of the Manufacturers Association of Nigeria (MAN), the closed manufacturing industries were among the hundreds existing in Sharada/Challawa and Bompai industrial areas of the state.
However, their closure has been attributed to the ongoing distortions in the Nigerian economy occasioned by instability in the management of foreign exchange (forex), insecurity, poor infrastructure, poor power supply, as well as increasing taxation.
Notwithstanding, it was observed that recently, the state has been recording the entry of new business brands, new international firms and new factories.
This, according to some experts, are the outcome of the state government’s establishment of the Kano Investment Promotion Agency (KanInvest) which is mandated to, among other issues, encourage, promote, coordinate and support investment activities in the state.
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The French Development Agency and the Manufacturers Association of Nigeria have put together an $81m funding scheme for the development of renewable energy and the energy efficiency sector in Nigeria.
Both organisations are supporting renewable energy development in Nigeria through the Sustainable Use of Natural Resources and Energy Finance programme.
SUNREF is a green financing line for businesses developed by the French agency and MAN, as both organisations just hosted an investor’s conference to attract investment into Nigeria’s renewable energy and energy efficiency sector.
A statement issued by the SUNREF Nigeria Programme contact person, Ogechi Adiuku, and made available to our correspondent on Friday in Abuja, stated that the $81m would be disbursed as low cost debts and grants.
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Mon Feb 22 2021
A multi-national firm in Kano State has officially launched a multi-billion Naira confectionery factory under Mamuda Foods Company, a subsidiary of Mamuda Group of Companies.
Speaking at the launch, the Managing Director MD and Chief Executive Officer (CEO) of Mamuda Group of Companies, Mr Hassan Hamud, stated that, the group has a workforce of over 9,000 personnel, adding that with the new confectionery factory, the group will have over 11, 000 personnel.
He added that the company has also succeeded in the completion of a 22.5 megawatts (MW) power plant to enable the smooth operation of the investment in the state.