Concerned by the continued deterioration of its industries that have become moribund over the years, the Bauchi state government has decided to relinquish ownership of six of the industries through privatization to give them new life. blow it up and make it functional again.

The industries affected are the famous Bauchi Meat Factory that supplied meat all over the world in the 1990s; Bauchi Furniture Company which until now employed hundreds of young people and had its products all over the country; Bauchi State Fertilizer and Blending Company, as well as the Zaranda Hotels and Towers; Wikki Hotels and Tours and Gallambi Cattle Ranch, which was known for supplying bulls to the meat factory and producing fresh farm milk.

The disclosure was made by the state’s deputy governor, Senator Baba Tela, who is the chairman of the Bureau of Privatization and Economic Reforms, as he briefed journalists on the arrangements and progress made so far on Tuesday.

Speaking at Government House shortly after the closing of the financial bids for the six ailing companies, Baba Tela said the development was in the best interest of all stakeholders in the state to carry out the process.

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According to him, “the government is not only interested in selling the assets, but is interested in seeing them work because it realizes it is unable to manage them profitably.”

The deputy governor added: “If you look at all those places where they used to do well, but today, they’re in a very dire condition, so if you bring in someone who can make them look good, that would be fantastic.”

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He further explained that the state government would bring in people who have the financial and managerial capacity to resuscitate the six ailing companies, as the goal is to get them back up and running to generate employment and revenue for the state government.

He also said: “This is the first round. More industries and entities are planned and we will continue to do so as long as there are companies that need to be privatized.”

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Speaking after the opening of the financial bid, State Government Secretary Barrister Mohammed Kashim Ibrahim described the process as smooth and transparent in accordance with the due process of the State Procurement Act.

Kashim Ibrahim revealed that AY Shafa, one of the leading investors in the state, beat two others in the bidding to become the preferred bidder that the Bauchi Fertilizer and Blending Company would win after offering 80 percent shares at the price of N400 million.

He added that New Frontier was the preferred bidder to acquire 75 percent of Bauchi Meat Factory for N301 million, Galambi Cattle Ranch was acquired by H&Y Global Ventures for N150 million for the same amount.

The SSG also said that Zaranda Hotel and Towers was leased for a period of 25 years to the preferred bidder, Butfield, who bid the sum of N 1.2 billion, just as it also beat other bidders to win the wink for Wikki Hotels. offered on the amount of N200 million for a 25 year lease.

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In response to the development, Nigerian Labor Congress (NLC) state chairman Comrade Danjuma Saleh assured workers that the state government has included them in the process.

The state union leader expressed hope that the privatization of public assets in the state would not lead to the layoff of workers in the affected entities and appealed to the state government to allow workers who have worked for more than ten years to qualify come for retirement.

Attempts by successive state governments to revive the industries had failed due to a lack of political will to invite private participation for the survival of industries, leaving them moribund.

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