Cross River Set To Privatise Forty-Six Industries

In Breaking News, Business & Economy

By Emma Unah, Vanguard News

Forty-six industries and companies established by Senator Ben Ayade, the Cross River State Governor between 2015 to 2021 have been earmarked for privatisation.

These industries include high-profile ones like the multi-billion naira Cocoa Processing Industry at Ikom, the Rice Processing factory at Ogoja, the Cally Airlines, a pharmaceutical company in Calabar among others.

An aide to the Governor on Privatization, Mr. John Odo, who made this known on Tuesday while inaugurating a seven-man technical committee to collate and analyse results of the referendum organised to sensitise and seek the opinion of the public on the privatisation exercise said, unlike previous administrations which carried out the sale of Government companies and assets without seeking public opinion, the Ayade Government is raising the bar by asking the people to have a say on the exercise.

“There are three options in the questionnaire and these are complete privatization, Government/private sector partnership, and Government complete ownership of our industries. I call on people of the State who are interested in owning any of these industries to form cooperatives or engage technical partners to take ownership of the industries which are our commonwealth.”

He said extensive sensitisation has been carried out by reaching out to traditional institutions, religious organisations, trade unions, organised labour, and student bodies with large volumes of responses being received both online and print from members of the public.

“The privatisation council has extended an invitation to our Advisor, KPMG and relevant MDAs namely, Due Process and Price Intelligence Bureau, State Auditor General, State’s Bureau of Statistics and Investment Promotion Bureau and Public-Private Partnership to witness and as well monitor the exercise.”

John said the privatisation exercise will be very transparent and the public would be kept informed of development regularly to clear any grey areas.

“We will follow due process and observe right privatization methods to ensure our core investments are not abandoned post-privatisation so that generations yet unborn can benefit from our resources.”

He called on the technical committee to speed up the process for the collation, analysis, and submission of the survey results.

Since You Are Here, Support Good Journalism


CrossRiverWatch was founded on the ideals of deploying tech tools to report in an ethical manner, news, views and analysis with a narrative that ensures transparency in governance, a good society and an accountable democracy.

Everyone appreciates good journalism but it costs a lot of money. Nonetheless, it cannot be sacrificed on the altar of news commercialisation.

Consider making a modest contribution to support CrossRiverWatch's journalism of credibility and integrity in order to ensure that all have continuous free access to our noble endeavor.

CLICK HERE

New Feature: Don't miss any of our news again.Get all our articles in your facebook chat box.Click the Facebook Messenger Icon below to subscribe now

Text Advert by CRWatch :Place Yours

Will You To Learn How To Make Millions Of Naira Making Special Creams From Your Kitchen?.Click Here


Expose Your Business And Make More Sales. Advertise On CrossRiverWatch.com Today

You may also read!

Despite Ailing Airline Deal And Privatization Agenda, Ayade Announces Plans To Buy Ships

By Jonathan Ugbal Cross River Governor, Benedict Ayade on Monday announced plans by the State to purchase seagoing vessels

Read More...

Capacity Chairman: Vena Jibes Former PDP Chair Edim, Rejects Sobriquet

By CrossRiverWatch Admin The Chairman of the People’s Democratic Party (PDP) in Cross River State, Venatius Ikem Esq. has

Read More...

Ex-Agitators Barricade Governor Ayade’s Office Over Unpaid 3 Years Stipend

By Ike Uchechukwu, Vanguard Former members of Bakassi Strike Force, BSF, numbering about 150 in the early hours of

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu

Share this now