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Kontagora to Spend N280 Million On Cattle Market

Posted by Daily Trust on 2009/01/08 | Views: 296 |

Kontagora to Spend N280 Million On Cattle Market


The Kontagora Local Government Council in Niger is to spend N280million on the construction of an International Cattle Market at Rafin Gora, close to Kontagora.

The Kontagora Local Government Council in Niger is to spend N280million on the construction of an International Cattle Market at Rafin Gora, close to Kontagora.

The council chairman, Alhaji Abdulhameed El-Waziri made this known in an interview in Kontagora on Wednesday.

El-Waziri said that the market would be built through the Public Private Partnership arrangement, between the council and a private developer.

He said the council would provide the land, fencing and certificate of occupancy, as part as part of its 50 per cent equity contribution to the project.

According to him, the private partners would source the balance to finance the project.

He said the council decided to embark on the construction of the market, in order to increase the revenue for the council.

" We are expected to earn more than N100 million as revenue annually," he said.

El-Waziri said the market would attract animal traders from the West African sub-region, making it one stopmarket of buy and sell of animals and other items.

He said three banks had so far shown interest in financing the construction of the market, even as the council was perfecting arrangement with the investors.

He decried the council's dependence on statutory grants to finance its activities, noting that the project was part of his plans to boost the council's finances.

The chairman said the investor would develop 65 per cent of the land in constructing stalls, while the council would sell the balance to interested persons to construct their own stalls. (NAN)

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Fay(Katy, Texas, US)says...

Actually translates to bravehearted.