Why We’re Privatizing Moribund Industries – Bauchi State Govt


BY ADEYEMI AKANJI – The Bauchi State Government has declared that there is no going back on the privatization of some of its moribund industries, saying that the move is aimed at reviving them.

The government said that it is convinced with the economic advantage of the arrangement adding that it has examined the investors’ level of commitment and what they offered for the value stake in the proposed companies.

It also said that the process remains as part of the moves for the economic revival of the state as well as tackling the challenges against the complete collapse of the industries.

These were made known by the Secretary to the State Government, Mr. Ibrahim Kashim Mohammed Esq, who also said that the government will not be intimidated by the mischievous attack by the opposition All Progressives Congress (APC) on the ongoing privatization of the industries.

Kashim said; “The opposition All Progressive Congress (APC) in the state should condemn first for the privatization of industries by the federal government, rather than attacking the state government on its privatization exercise.

Kashim, who was a director with the Bureau of Public Enterprises, denied privatizing the industries to sell to the friends and associates of the governor, saying the financial bidding was conducted in a transparent manner.

He noted that the industries listed for the privatization are in a stage of collapse with obsolete equipment hence the need for the state government to seek privatization which is in the best interest of the state.

According to him; “It is not a new thing for government to allow private sector to take over businesses in an event that it will not be able to manage them well.

“So, we are appealing for understanding and support from the people as the administration of Governor Bala Mohammed is determined to protect their interest in all its policies and programmes”.

The industries listed for the privatization are the Bauchi Meat Factory, Bauchi Furniture Company, Bauchi State Fertilizer and Blending Company, Galambi Cattle Ranch as well as leasing of Zaranda Hotels, Wikki Hotels and Tours all in a bid to create job opportunities and improve economic activities in the state.

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