Bauchi leases out Zaranda Hotel at N1.2bn, sells meat factory, cattle ranch, fertilizer blending, furniture companies to generate revenue

Worried by the continuous dilapidation of its industries that have remained moribund over the years, the Bauchi State government has decided to hand off the ownership of six of the industries through privatisation in order to revive and make them functional again.

The affected industries are the famous Bauchi Meat Factory which in the 90s supplied meat across the globe; Bauchi Furniture Company which hitherto employed hundreds of youths and had its products across the country; Bauchi State Fertiliser and Blending Company as well as the Zaranda Hotels and Towers; Wikki Hotels and Tours and Gallambi Cattle Ranch which was noted for its supplying bulls to the meat factory and production of farm fresh milk.

The disclosure was made by the State Deputy Governor, Senator Baba Tela, who is the Chairman of, the Bureau for Privatisation and Economic Reforms while briefing Journalists on the arrangements and progress so far made on Tuesday.

Baba Tela was speaking at Government House shortly after the close of financial bidding for the six ailing companies, saying that the development was in the best interest of all stakeholders in the state for the process to be carried out.

According to him, “Government is not just interested in selling the assets off but interested in seeing them work because it has realised it’s incapacitated to run them profitably.”

The Deputy Governor added that “If you look at all those places they were doing well before now, but today, they are in a very sorry state, so if you bring in somebody who can make them look good that will be fantastic.”

ALSO READ FROM NIGERIAN TRIBUNE

• Soyinka To FG: ‘Why Proscribe IPOB And Not Miyetti Allah?

• FG Introduces Rotavirus Vaccine To Avert Death Of 110,000 Children

• ASUU Strike: Students Call For PPP To Fund Universities, Recount Losses

He further explained that the state government would bring in people who have the financial and managerial capacity to resuscitate the six ailing companies because the aim is to get them functioning again to generate employment and revenue for the state government.

He also said that “This is the first round. More industries and entities have been slated for and we will continue to do it as long as there are those enterprises that need to be privatised.”

While speaking after the financial bid opening, Secretary to the State Government, Barrister Mohammed Kashim Ibrahim described the process as smooth and transparent in line with the due process of the state procurement law.

Kashim Ibrahim disclosed that in the bidding, one of the leading investors 8n the state, AY Shafa beat two others to emerge preferred bidder to clinch the Bauchi Fertilizer and Blending Company after offering 80 per cent shares at the price of N400 million.

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

The SSG also said that Zaranda Hotel and Towers was leased out for the period of 25 years to the preferred bidder, Butfield which offered the sum of N1.2 billion just as it also beat other bidders to get the nod for Wikki Hotels offered at the sum of N200 million for a lease of 25 years.

Reacting to the development, State Chairman of the Nigeria Labour Congress (NLC), Comrade Danjuma Saleh, assured workers that the state government has carried them along in the process.

The State labour leader expressed the hope that the privatisation of public assets in the state would not lead to the sack of workers in the affected entities and appealed to the state government to consider workers who have worked for over a decade to be considered for pension.

Efforts by successive administrations in the state to revive the industries had failed due lack of political will to invite private participation for the survival of industries thereby making them moribund.

Start Preparing Your Kids For Resumption Now

Bauchi leases out Zaranda Hotel at N1.2bn, sells meat factory, cattle ranch, fertilizer blending, furniture companies to generate revenue

Abducted Humanitarian Worker Released After 20 Months In Boko Haram’s Den

Bauchi leases out Zaranda Hotel at N1.2bn, sells meat factory, cattle ranch, fertilizer blending, furniture companies to generate revenue