WorldStage Newsonline— The Benue Government has announced plan to sell 11 enterprises that have become unprofitable to the state.
The State’s Commissioner for Industry, Trade and Investment, Prof. Tersoo Kpelai stated this at press conference in Makurdi on Thursday.
The companies include Benue Links Transport Company Ltd., Makurdi Modern Market, Taraku Mills, Mega Foods and Beverages Processing Company Ltd., Benfruit Nig. Ltd. and Benkims Plastic Nig. Ltd.
According to the commissioner, the others are: Katsina Ala Yam Flour Factory, Agricultural Development Corporation (ADC) Ltd., Fertilizer Blending Company Ltd., Otukpo Burnt Bricks and Benue Roof Tiles Ltd.
He said that the privatisation decision was taken by the Benue State Council on Privatisation and Commercialisation of Public Enterprises in order to revive the moribund and unprofitable companies.
He said that an advertisement for the privatisation was published in the Nation newspaper of April 10.
“It may interest you to know that all the 11 enterprises listed for privatisation were established for over a decade but most of these enterprises have not been operational in the last six years.
“Even the ones that are operating sparingly do so by incurring losses without making any profit.
“Privatisation has, therefore, become the only option since government currently has developmental challenges with slim resources,” he said.
According to him, privatising the enterprises will bring efficiency as investors will bring capital, new technology, skills and better management,” he said.
