The Yobe state government has completed plans on the gradual privatisation of its seven commercial companies and industrial outfits, to enable each of them become self "accounting and efficient" in the production of goods and services, Deputy Governor, Abubakar D. Aliyu, has stated.
Aliyu, who doubles as the Commissioner of Commerce and Industry, spoke yesterday in his office at the Damaturu Government House, on the inevitability of privatising seven government owned firms and industries in the state.
He lamented that in spite of the huge investments made in the establishment of industries since the state was created, they are not producing the goods and services at their installed full capacities.
The organisations to be privatised include the Yusufari Soda Ash plant, laterite block-making factory, Sahel Aluminium, Doforga Water Bottling plant, Polythene and Woven Sacks factory, Damaturu Hotels and the Yobe Fertilizer Blending plant.
He said in the gradual privatisation process, the Yobe Securities Company is being recapitalised with N100 million.
According to the deputy governor, in completing the three-star hotel and Soda Ash plant, equity finance would be provided them, while working capital and equipment including spare parts would be made available in making the laterite block making, roofing sheets and woven sacks factories operational to achieve their respective installed full capacities.
He said the reactivation and recapitalisation of the seven industrial firms was to make them self accounting with increased managerial acumen, so that government would not need to interfere in their operations.
He added that in providing an enabling environment for local and foreign investors, the state government would award contracts for the renovation of the state hotels at Potiskum, Nguru and Gashua, 185 kilometres northwest of Damaturu, the state capital.
Besides, he said more towns and communities, he said, would be electrified by hooking them to the national grid, including the provision of solar-powered electricity to the 18.6 kilometre Damaturu ring road.
