The Kano State Chamber of Commerce, Industries, Mines and Agriculture (DALCCIMA) has warned that prime interest charges, rising residing prices and a number of taxation are placing companies within the state underneath extreme stress, questioning whether or not small-scale entrepreneurs can survive the fourth quarter of 2026.
The chamber mentioned the obvious stability in some financial indicators had but to translate into significant reduction for companies and households, warning that the hole between official financial figures and realities within the markets wanted pressing consideration.
Speaking at a press convention in Kano, the Vice President , Business Development, DALCCIMA, Adamu Abdulkadir Gambo mentioned it might use the dialogue, themed: “Your Economy. Your Business. Your Voice,” to interrogate the impression of presidency financial insurance policies, inflation, international change fluctuations, excessive borrowing prices and infrastructure tasks on Kano’s economic system.
“High MPR is choking businesses while trying to cure inflation. Are we killing the patient to cure the disease?” the chamber requested, referring to the Central Bank of Nigeria’s excessive Monetary Policy Rate.
It expressed concern that lending charges of between 28 and 35 per cent might make it more and more troublesome for small enterprise house owners, together with merchants and artisans, to entry credit score and increase their companies.
The chamber additionally questioned whether or not the reported plateau in headline inflation had translated into decrease costs of meals and different important commodities for bizarre residents.
It mentioned the evaluation would look at whether or not the price of a mudu of rice, transportation from Tarauni to Sabon Gari and college charges had decreased, in addition to the impression of meals and core inflation on households and micro, small and medium enterprises.
“The numbers tell a story, but your experience reveals the reality. That is the gap we want to close,” it mentioned.
DALCCIMA additionally expressed concern that stability within the international change market had not essentially made imported items extra inexpensive for Kano merchants, significantly those that transport their items from Lagos.
It mentioned the evaluation would look at the precise value of international change transactions and their impression on the competitiveness of Kano companies.
On authorities spending, the chamber mentioned it might scrutinise Kano State’s capital finances implementation, demanding to understand how a lot had been launched for roads, colleges, markets and industrial clusters within the third quarter.
It additionally questioned whether or not elevated month-to-month allocations from the Federation Account Allocation Committee (FAAC), following the removing of gas subsidy, had translated into extra infrastructure, jobs and enterprise alternatives.
The chamber recognized the Ajaokuta-Kaduna-Kano (AKK) fuel pipeline and Kano-Maradi railway as two main tasks whose progress might considerably form the state’s financial fortunes.
It mentioned the supply of fuel by the AKK pipeline might present cheaper power for producers, significantly these working within the Challawa industrial space.
It additionally described the Kano-Maradi railway as a strategic commerce hall able to connecting Kano to Niger Republic and the broader West African market, creating alternatives for merchants, logistics operators and warehouse house owners.
The chamber additional mentioned it might assess the viability of compressed pure fuel (CNG) and electrical automobiles in Kano, significantly their affordability and accessibility to business transport operators.
It listed CNG availability, conversion centres and conversion prices among the many points requiring pressing consideration, particularly for tricycle and bus operators fighting rising petrol costs.
DALCCIMA additionally questioned the efficiency of the Dala Inland Dry Port, asking whether or not the power had decreased importation prices for Kano companies or was merely working as a warehouse.
Other points to be examined embrace youth unemployment, electrical energy provide, diesel costs, a number of taxation, market levies and the benefit of doing enterprise.
The chamber mentioned the last word goal was to find out whether or not small companies might survive the ultimate quarter of the yr, whether or not households might afford meals, transportation and college charges, and the place traders ought to put their cash in Kano.
It urged companies, traders, market associations, growth companions and residents to take part within the dialogue.
The chamber confused that it was funded fully by members, together with merchants in Kantin Kwari, millers in Dawanau, producers in Sharada, miners in Shanono and farmers in Bunkure, with out authorities intervention.
“What we will give Kano is the truth about its economy,” it mentioned.
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