Jaiz Bank Plc has said that over N10 billion has been spent so far in the construction of Kano Economic Development City, locally known as Kanawa Market.
Head of Real Estate Department of Jaiz Bank, Usman Ibrahim Usman made this known while briefing newsmen during an inspection tower to the site in Kano on Thursday.
BizPoint recalls that the project was conceived by the administration of governor Ibrahim Shekarau, and estimated to gulp about $461 million, but was abandoned until the government of Abdullahi Umar Ganduje deemed it fit to complete it to restore the image of Kano as commercial nerve center of northern Nigeria and sub-saharan Africa.
The project, which was under Public Private Partnership, PPP, is being sponsored by Jaiz Bank and developed by real estate and infrastructure development company, Brains and Hammers.
Speaking to the journalists, Usman said the bank joined the project after reckoning its importance to the state, country and the world.
He said within a short period of time, Jaiz Bank has seen the establishment of the market, calling on the stakeholders to give maximum cooperation towards the success of the project.
He called on the partners and all stakeholders to ensure speedy and timely commissioning of the market.
“over N10 billion has been so far spent in this project and more fund are being invested in the project because as you can see, less than 10 % of the market has not been completed. This is a very important business that is why Jaiz Bank is fully involved.
“ When we expressed our intention to invest in the project, some are looking at us as we are fool, but to God be the Glory, we have seen the accomplishment of our mission.
READ ALSO:CBN, AMCON announce sale of Polaris Bank
“ let me use this opportunity to call on all stakeholders to do everything possible to ensure the success of this project. I also called on the stakeholders to ensure timely and speedy commissioning of this market. This market will be a huge economic hub not only for Kano and Nigeria , but for the whole Africa,” Usman appealed.
Usman explained that Jaiz is in the project for lease and sell services, adding that the shops are of affordable rate and had already been sold out.
He also said that people are also coming to book for the other sections of the market that are under construction.
On his part, Hussaini Labaran Zakirai, chairman, Kanawa Pharmaceutical Partners, a stakeholder in the market, said they would ensure proper utilization of the market and run lawful business in the facility.
He said all arrangements had been concluded for the opening of the pharmaceutical site of the market, announcing that it would be opened before December.
Bizpoint reports that the vast market is designed for GSM, pharmaceutical and textiles sections.
