KASCO remits ₦200m profit to Kano govt, ends 10-year remittance gap
In a landmark development for Kano State’s public enterprise sector, the Kano Agricultural Supply Company (KASCO) has remitted 60 percent of its 2024 annual profit—amounting to ₦200.4 million—to the state government, marking the first such payment in over ten years.
Sanusi Bature, spokesperson to Governor Abba Kabiru Yusuf, made this disclosure, in a statement made available to journalists, on Wednesday, noted the remittance was formally presented to the Governor during the 33rd State Executive Council meeting held at the Government House, Kano.
Kabiru Sani Yakubu, managing director of the company, while, presenting a dummy cheque to Governor Yusuf, disclosed that the company recorded a total profit of N334 million for the 2024 financial year — the highest in its history since its establishment in 1991.
He described the achievement as a “historic milestone” and a testament to the company’s renewed operational efficiency and financial discipline.
Yakubu credited the turnaround to the enabling environment created by Governor Yusuf’s administration, which restored confidence, improved transparency, and encouraged productivity among state-owned enterprises.
“KASCO’s return to profitability was made possible through the governor’s support and the business-friendly policies that have revitalized our operations,” he stated.
He further emphasised that the company’s success reflects a broader commitment to enhancing food security, promoting agricultural input distribution, and empowering local farmers across the state. According to him, KASCO has expanded its reach to serve thousands of farmers with affordable fertilizers, seeds, and other essential inputs in the last year.
In his response, Governor Yusuf congratulated KASCO’s management and staff for what he described as a “commendable comeback” after years of underperformance. He noted that the company’s financial revival underscores his administration’s efforts to reform and reposition state-owned enterprises as viable contributors to Kano’s economy.
“This remittance is not just a financial achievement—it is proof that with integrity, transparency, and good leadership, public institutions can thrive and deliver value to the people.
“Our goal is to make Kano’s institutions self-reliant and accountable so they can serve the people more effectively,” Governor Yusuf said.
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He assured that the state government will continue to provide policy support and oversight to ensure the sustainability of KASCO’s progress and that of other state-owned agencies.
Governor Yusuf reiterated his administration’s commitment to economic self-sufficiency, stressing that strengthening public enterprises remains a core strategy in diversifying Kano’s revenue base.
The development has been widely welcomed as a positive sign for Kano’s public sector reforms, particularly in reviving dormant or underperforming agencies. Analysts say KASCO’s profitability could inspire similar turnarounds in other state-owned enterprises if current governance reforms are sustained.
Founded in 1991, KASCO plays a vital role in the state’s agricultural value chain, supplying fertilizers, agrochemicals, and farming implements to boost food production and rural livelihoods. With this latest achievement, the company appears poised to reclaim its place as a cornerstone of Kano’s agricultural development and a model of public-sector efficiency.
