Benue to privatise 11 companies — Commissioner

The Benue Government said on Thursday in Makurdi that it had identified 11 state-owned companies for privatisation.
Prof. Tersoo Kpelai, the state’s Commissioner for Industry, Trade and Investment, disclosed this while briefing newsmen.
Kpelai identified the companies as: Benue Links Transport Company Ltd; Makurdi Modern Market; Taraku Mills; Mega Foods and Beverages Processing Company Ltd; Benfruit Nigeria Ltd; and Benkims Plastic Nigeria Ltd.
Others are: Katsina Ala Yam Flour Factory; Agricultural Development Corporation Ltd; Fertilizer Blending Company Ltd; Otukpo Burnt Bricks; and Benue Roof Tiles Ltd.
He said that the decision to privatise the companies was taken based on recommendations by the State Council on Privatisation and Commercialisation of Public Enterprises.
According to him, privatisation will help to revive moribund companies in the state and those performing below average.
He said the advertisement for the privatisation of the companies was published in a national newspaper of April 10.
Kpelai said: “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.”
According to him, privatising the enterprises will ensure efficiency and effective performance as investors will invest funds, introduce new technology, skills and better management expertise.
He said: “These enterprises, if run profitably, will provide job opportunities for our teeming youths, create wealth, boost the state internally generated revenue and create value chain across the diverse sectors of the Benue economy.”