Achievements of the Ministry of Commerce

  1. ESTABLISHMENT OF KOGI STATE MARKET DEVELOPMENT BOARD

This parastatal under Min. Of Commerce & Industry was reconstituted on 2nd October 2017 for effective & efficient management of markets in the State, with Alhaji Danjuma Odiba as the new chairman of the board. This has gone a long way in boosting commercial activities in the state.

  1. TRADE FAIR COMPLEX

In Dec. 2016, a local trade fair was organised to boost the economy in collaboration with Min. Of Commerce & Industry at Kogi People Consumers Shop (KOPEC).

  1. During the period under review, the State Government/Ministry was able to acquire Seventy (70) hectares of land, earmarked at Zango Daji industrial layout site along Felele – crusher Kabba junction axis for the development of permanent trade fair complex to replace the earlier trade fair at Felele.
  1. RESUSCITATION OF CONFLUENCE FERTILIZER COMPANY

In February 2018, the emerald fertilizer company investors, participated in the Kogi State Economic & Investment Summit partnered with the State Government to resuscitate Confluence Fertilizer Company & effected a memorandum of understanding.

  1. HELPED ESTABLISH KOGI STATE BOARD OF INTERNAL REVENUE ADMINISTRATION & HARMONIZATION OF TAXES, LEVIES ETC

Within the period under review, the Min. of Commerce & Industry constituted revenue committee which assisted its administrative unit to review revenue rates in 2017.

The law enacted by the State Government helped establish “Kogi State Board of Internal Revenue Administration & Harmonization of Taxes, Levies, Rates, Fees & charge due to the Revenue Appeal Tribunal law of 2017.

  1. AMENDMENT OF REVENUE RATES IN 2017

With this the Ministry was able to considerably increase her revenue generation and was commended for effective revenue drive in 2020.

  1. ESTABLISHMENT OF DATABASE FOR SMEs

The State Government/Ministry established a database for Small & Medium Scale Enterprises in the State to facilitate accessibility of grants/loans from recognized financial institutions.

  1. FINANCIAL LOGISTICS FOR SURVIVAL FUND SCHEME

The Ministry of Commerce & Industry was provided with financial logistics good enough to anchor the Federal Government Survival Fund Scheme in the State & SMEs institutions benefited well over Four Hundred & Fifty Million Naira (N450,000,000) only from the scheme, cutting across the State; a feat that has never been attained at the State.

  1. INAUGURATION OF KEDA BOARD

There was a need for a State-owned agency of government. Fortunately, there was an existing KEDA law in the Ministry but not implemented, followed the action up to the State Executive Council.

This resulted in the inauguration of KEDA board. Today the agency is doing well in helping promote SMEs in the state.

  1. The State Government/Ministry has finished negotiation with Bank of Industry & it is ready to further partner with the State Government with a view of releasing additional funds to investors in the State.

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