Property Firm Hands over 64 Shops to Triumph Publishing Firm in Kano

Ibrahim Shuaibu in Kano

The Triumph Publishing Company yesterday attained a new lease of life, while receiving its share of 64 shops at the newly constructed ultra-modern Bureau De Change market located at the company’s former site in Fagge Local Government Area of Kano State.

On September 11, 2020,  the Kano State Government signed an agreement with Lamash Properties Limited Company, under Public-Private-Partnership (PPP) arrangement to develop an ultra-modern Bureau De Change market at the then Head Office of the Triumph Newspaper Publishing Company.

Part of the conditions in the signed agreement is to relocate the Triumph Company to a new location at Amana Housing Estate, which had already been completed successfully.

At the handing-over ceremony of the shops to the management of the Triumph Company yesterday in Kano, an official of the Lamash Properties Limited, Hadiza Abdulkadir, expressed delight to observe the handover of the shares to the company.

According to her, clause 7 in page 3 of the development agreement stipulates that the state government “shall be entitled to receive N1.04 billion worth of shops, comprising of N500million value of the land contributed to the project and N530.8 million, representing 25 percent profit share.

“Today, we are here by the will of Almighty Allah to handover the completed shops and the entire keys belonging to Kano State Government in this project.

“Under the letter of the directive given to us by the state government through the Technical Committee to handover the said state government shops in this project to the management of Triumph Publishing Company, I have the honour to invite the management of the Triumph Publishing Company to come forward for the necessary process of the handover.”

In his remarks, the Managing Director of Triumph Publishing Company, Lawal Sabo Ibrahim, expressed delight over the development.

He explained that the 25 per cent share represents 64 shops, which according to him, if properly managed, would restore Triumph Company to its former glory.

According to him, “The publishing coy, within a short period, would start remitting revenue to the government’s treasury.”

He noted that the acquisition of the shops would empower the company to procure additional production machines and equipment, which according to him, “would translate into more revenues for the company and the state government.”