Benue Govt Plans Privatization of 11 Companies
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Loading ...From Msughshima Andrew, Makurdi
The Benue Government has concluded plans to privatize 11 companies owned by the state.
The companies include Benue Links Transport Company Ltd, Makurdi Modern Market, Taraku Mills, Mega Foods and Beverages Processing Company Ltd, Benfruit Nigeria Ltd and Benkims Plastic Nigeria Ltd.
Other companies are Katsina Ala Yam Flour Factory, Agricultural Development Corporation (ADC) Ltd, Fertilizer Blending Company Ltd, Otukpo Burnt Bricks and Benue Roof Tiles Ltd.
Commissioner for Industry, Trade and Investment, Prof. Tersoo Kpelai disclosed this yesterday, in Makurdi, while briefing newsmen.
Kpelai stated that the decision to privatize the companies was taken by the State Council on Privatization and Commercialization of Public Enterprises in order to revive the state moribund companies and those that were performing below average.
According to him, advert for the privatization of the companies was published in the Nation Newspaper of April 10, 2018.
Je explained that all the 11 enterprises listed for privatization were established for over a decade and expressed displeasure that most of the enterprises are not operational in the last six years.
”Even the ones that are sparingly operational do so by incurring losses without making any profit.
”Privatization has therefore, become the only option since government currently has developmental challenges with slim resources,” he said.
He e pressed confidence that privatization of the companies would bring efficiency and effective performance as investors would bring capital, new technology, skills and better management expertise.
According to him, the companies if run profitably will provide robust job opportunities for Benue’s teeming youths.
“It will aslo create wealth, boost the state Internally Generated Revenues, IGR, and create value chain across the diverse sectors of the Benue economy,” he said.
