Politics
The Benue Government is to privatise 11 enterprises that have become unprofitable to the state, the Commissioner for Industry, Trade and Investment, Prof. Tersoo Kpelai, said on Thursday.
At a press conference in in Makurdi, Kpelai listed the companies to include Benue Links Transport Company Ltd., Makurdi Modern Market, Taraku Mills, Mega Foods and Beverages Processing Company Ltd., Benfruit Nig. Ltd. and Benkims Plastic Nig. Ltd.
According to the commissioner, the others are: Katsina Ala Yam Flour Factory, Agricultural Development Corporation (ADC) Ltd., Fertilizer Blending Company Ltd., Otukpo Burnt Bricks and Benue Roof Tiles Ltd.
He said that the privatisation decision was taken by the Benue State Council on Privatisation and Commercialisation of Public Enterprises in order to revive the moribund and unprofitable companies.
He said that an advertisement for the privatization was published in the Nation newspaper of April 10.
“It may interest you to know that all the 11 enterprises listed for privatisation were established for over a decade but most of these enterprises have not been operational in the last six years.
“Even the ones that are operating sparingly do so by incurring losses without making any profit.
“Privatisation has, therefore, become the only option since government currently has developmental challenges with slim resources,” he said.
According to him, privatising the enterprises will bring efficiency as investors will bring capital, new technology, skills and better management.
“These enterprises, if run profitably, will provide job opportunities for our teeming youths, create wealth, boost internally-generated revenue and create value chain across the diverse sectors of the Benue economy,” he said. (NAN)
– Apr. 12, 2018 @ 13:53 GMT |
Tags: Commissioner for Industry Prof. Tersoo Kpelai Trade and Investment
