ACN Demands Explanations On The Fate Of SUPABOD Stores From Amaechi


The Rivers State Chapter of the Action Congress of Nigeria, ACN, says the state of many Rivers State owned companies and business ventures has continued to be a source of worry to the people, particularly, since the present administration came into being.

A statement issued and signed by the publicity secretary of the party, Jerry Needam, said from all indications it appears that the Supabod Stores, a supplies outlet run by Pabod Supplies Limited, Port Harcourt, is gone forever, like other state owned enterprises which Governor Rotimi Amaechi-led government has sold off.

Jerry Needam recalled that Governor Amaechi in May 2011 announced the sale of Supabod Stores to an undisclosed private investor, who the governor revealed, “would bring his money and invest, and manage it for 30 years”.

Since 2011, Rivers people have waited so long in expectation of further details and clarification on the shaddy transaction with an obscure buyer, who only Amaechi knows, the ACN image maker regretted.

“Our concern is the fact that this business outfit, like many others, including RISONPAM Limited, used to be money spinners and boosters of the state treasury in terms of income generation. Again, it is particularly worrisome that the PDP government has under the guise of its privatization programme, outrightly sold out numerous state enterprises without considering the rights of the people at least to know what happens to their properties”, the party noted.

The ACN insists that the fact that Pabod Supplies Limited is one of several others on which Rivers people have ownership (Legal and social) rights, the government only acts as manager, demands that the government should explain details of its transactions as they affect the running of the business ventures.

This, according to the party therefore draws the imperative, as it would be at least good enough if Governor Amaechi discloses to the people who the buyer (private investor) is, if it is not himself (Amaechi). It will also do him well if information on the transaction cost and the financial benefits from the 30 years sales deal are disclosed to Rivers people.

“May we also ask why an outlet of the PABOD Supplies should be in private hands for that long (30 years) before it can regain full life, especially now that the government is obtaining a N120bn loan to finance projects and run its activities. These and many more are the questions begging for answers from the PDP led government in Rivers State”, the ACN concluded.

Jerry Needam, JP

Publicity Secretary

Action Congress of Nigeria

Rivers State.

March 01, 2013




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