Kano state’s agricultural sector has recorded a major boost after the Kano Agricultural Supply Company (KASCO) remitted 60 per cent of its 2024 profits, ₦200.4 million, to the state government, marking the first of such payment in over a decade.
The announcement was made by the governor’s spokesperson, Sunusi Dawakin-Tofa, who described the remittance as a historic development for the state-owned enterprise.
KASCO reported a total profit of ₦334 million for the 2024 financial year, a milestone the company said signalled a major turnaround in its operations.
Governor Abba Yusuf has received the remittance and commended KASCO’s management for restoring the agency to profitability.
He pledged continued government backing to sustain financial reforms and ensure improved accountability across public enterprises.
The governor reiterated that strengthening state-owned institutions, especially those linked to agriculture, was central to boosting economic resilience, food production, and job creation.
In a related development, Governor Yusuf reaffirmed his administration’s commitment to financial inclusion and the economic empowerment of youth and women on Tuesday, during the inauguration of the Kano branch of Signature Bank.
He described the bank’s arrival as a reflection of Kano’s growing appeal to investors and its supportive business climate. He also pledged the government’s full cooperation to help financial institutions thrive in the state.
“We are open for partnership and collaboration with all financial institutions to create an affordable and sophisticated business environment that supports entrepreneurs and drives prosperity,” the governor said.
He further praised the Sabon Gari business community for consistent tax compliance, noting that their contributions have strengthened state revenue and economic stability.
Also speaking at the event, the Emir of Kano, Muhammadu Sanusi II, expressed optimism about the bank’s future in the state, pointing to Kano’s vast commercial landscape and investor potential.
Source: AgricCliamate News
