No going back on privatisation of moribund industries, says Bauchi govt

Bauchi State Government has disclosed that the decision to privatise some moribund industries is to the best interest of the state.

This was stated by the Secretary to the State Government, SSG, Barrister Ibrahim Kashim while briefing newsmen over the weekend where he declared that, there is no going back on the privatization of some moribund industries, saying the process is aimed at improving the economy of the state as well as to prevent the total collapse of the industries.

Barrister Ibrahim Kashim said the state government will not be intimidated by the mischievous attack by the opposition party on the ongoing privatization of the industries.

According to him, the opposition All Progressives Congress (APC) in the state should have condemned first, the privatization exercise of industries by the federal government rather than attacking the state government on its privatization exercise that is based on the interest of the state.

The SSG who was a former Director in the Bureau of Public Enterprises, denied the allegations that these industries were privatized to the friends and associates of the governor, saying the financial bidding was conducted in a transparent manner.

He noted that, the industries enlisted for the privatization are in a stage of collapse and all their equipment are obsolete hence the need for the state government to seek for their privatization for the best interest of the state.

“It is not a new thing for the government to allow the private sector to take over businesses in an event that it will not be able to manage them well. Government is convinced with the economic advantage of the arrangement and we have examined the investors’ level of commitment and what they offered for the value stake in the proposed companies, so we are appealing for understanding and support from the people of the state, as the Administration of Governor Bala Mohammed is determined to protect their interest in all its policies and programmes”, he said. 

The SSG stated that, the establishment of the Bureau for Privatization and Economic Reforms is to serve as the policy and decision making body with regard to the privatization and economic reform of state enterprises, transfer the management of all such enterprises to the Bureau in the first instance and remove the interference in the Management of State enterprises from line Ministries thereby ensuring transparency and to avoid conflict of interest in the affairs of enterprises.

He mentioned some of the functions of the Bureau to include, advising government on the capital restructuring needs of enterprises to be privatized in order to facilitate good management of the enterprises, determined the political, economic and social objectives of privatization of state enterprises and recommend to government the legal and regulatory framework for assets of state enterprises to be privatized.

Nigerian Pilot recalls that the state government has announced the privatization of 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.(Nigerian Pilot)