The Kano Gold Souk and other regional initiatives being carried out by the ministry, according to the Ministry of Mines and Steel Development, would be operational by 2023.
The minister, Mr. Olamilekan Adegbite, made this statement while taking the stage at the News Agency of Nigeria (NAN) event in Abuja.
According to Adegbite, the souk would turn the nation into a popular place to buy gold worldwide.
H said that the government had trained individuals who would create jewellery, and he added that they would live in the gold souk.
“In Kano, our gold is exported from Nigeria to locations like Dubai and elsewhere, where jewellery is made from it.
“You purchase them there at high costs, but when the gold leaves Nigeria in its unprocessed state, they pay essentially nothing for it.
“So, we decided to build a gold souk in Kano that can compete with any souk worldwide.
“They’re going to make jewellery out of the gold in Nigeria.
They can create bracelets, straps, necklaces, earrings, and pendants.
People are now taught to perform this. So, by proposing that the Kano Gold Souk may join the global calendar of souks, we are bringing value to Nigeria.
“This will let people know that we’ll hold a gold festival at the Kano gold souk at a specific period of the year so that people from all over the globe may come to Kano and purchase gold.
“For that reason, we completed all six of these regional projects, which are now nearing completion.
We should shortly be commissioning them. Early in the new year, we will consider the best times to launch these initiatives, the minister stated.
