The Kano State Chamber of Commerce, Industries, Mines and Agriculture (DALCCIMA) has warned that top interest charges, rising dwelling prices and a number of taxation are placing companies within the state below extreme strain, 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 aid 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 could use the dialogue, themed: “Your Economy. Your Business. Your Voice,” to interrogate the influence of presidency financial insurance policies, inflation, overseas trade fluctuations, excessive borrowing prices and infrastructure initiatives 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 may make it more and more tough for small enterprise homeowners, 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 overview would look at whether or not the price of a mudu of rice, transportation from Tarauni to Sabon Gari and faculty charges had diminished, in addition to the influence 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 overseas trade market had not essentially made imported items extra reasonably priced for Kano merchants, notably those that transport their items from Lagos.
It mentioned the overview would look at the precise price of overseas trade transactions and their influence on the competitiveness of Kano companies.
On authorities spending, the chamber mentioned it could scrutinise Kano State’s capital finances implementation, demanding to know the way 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 gasoline subsidy, had translated into extra infrastructure, jobs and enterprise alternatives.
The chamber recognized the Ajaokuta-Kaduna-Kano (AKK) gasoline pipeline and Kano-Maradi railway as two main initiatives whose progress may considerably form the state’s financial fortunes.
It mentioned the provision of gasoline by the AKK pipeline may present cheaper vitality for producers, notably 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 homeowners.
The chamber additional mentioned it could assess the viability of compressed pure gasoline (CNG) and electrical automobiles in Kano, notably 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 scuffling with rising petrol costs.
DALCCIMA additionally questioned the efficiency of the Dala Inland Dry Port, asking whether or not the ability had diminished importation prices for Kano companies or was merely working as a warehouse.
Other points to be examined embody 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 may survive the ultimate quarter of the yr, whether or not households may afford meals, transportation and faculty charges, and the place traders ought to put their cash in Kano.
It urged companies, traders, market associations, improvement companions and residents to take part within the dialogue.
The chamber harassed that it was funded solely 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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