Kano State Government has announced plans to inaugurate the Gold Souk, a gold refining and trading market designed to serve Northern Nigeria. The market, located at Batakaye, Western Bye Pass, in Kumbotso Local Government Area, was originally established in 2021 under the administration of former President Muhammadu Buhari.
This development was disclosed on Saturday by the State Commissioner for Solid Minerals and Natural Resources, Safiyanu Kachako, during a visit to the Gold Souk. The commissioner emphasized the strategic importance of Kano as a commercial hub for northern states, making it an ideal location for such a significant market. The Gold Souk is expected to provide a conducive environment for stakeholders involved in gold mining and refining, with the aim of facilitating local and international trade directly from Kano.
In a statement issued by the Director of Public Enlightenment for the newly established Ministry of Solid Minerals and Natural Resources, Adamu Dabo, it was revealed that the commissioner plans to visit the Federal Ministry of Solid Mineral Resources in Abuja to foster collaboration and build capacity for the success of the Gold Souk.
The statement also highlighted the ministry’s commitment to engaging with both local and international stakeholders to ensure the market achieves its goals. “Indeed, Kano is strategic and remains a commercial hub of northern states, hence the location of the gold market to provide a conducive atmosphere for the commodity stakeholders to mine, refine for local patronage, and export to the world market directly from Kano,” the statement read.
However, the commissioner expressed concern over reports of land encroachment at the Gold Souk premises. He has ordered a thorough investigation into the matter to resolve the issue amicably and ensure the market’s smooth operation.
The establishment of the Gold Souk is seen as a significant step towards boosting the solid minerals sector in Kano and northern Nigeria, potentially driving economic growth and increasing the region’s participation in the global gold market.
