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Kogi Govt Considers Selling Off State Assets To Raise Money

SAEAN
By SAEAN | self meida writer
Published 7 months ago - 4029 views

Kogi State government led by Governor Yahaya Bello is considering selling some state assets to raise money for infrastructural development of the state.

Speaking on behalf of the state state government on Wednesday in Lokoja, the state Commissioner for Information and Communication, Kingsley Fanwo, said the intention of Yahaya Bello's administration is to sell some of the business ventures to fiance ongoing projects. 

The commissioner said the state government will give up some of the businesses like hotels and transportation to private sector to raise money for the state.

According to him, the state government is already evolving a policy to systemically ease herself out of business ventures that are not critical needs of the people of Kogi State which could be better managed by the private sector. 

He noted that, “The present administration is working on a plan to concentrate on infrastructural development and create a conducive environment for businesses to thrive,” he stated. 

He added that over the years, certain businesses like Hotel Management and Transportation have been mismanaged by government, adding that Yahaya Bello's administration will not follow that path.

He explained that the Economic Team of the state Government has been charged to come up with plan that will gradually cede the major economic play to the private sector while the Kogi State government concentrates on regulating the economy and create a conducive environment for economic prosperity. 

The Commissioner for Information and Communication stressed that businesses like Hotel Management and Transportation and others in that line are better managed by the private sector, adding that Kogi State government has no resources to waste on rendering services that are better rendered by the private investors.

He concluded that the present reality in Kogi State informed the decision of Governor Yahaya Bello to look into how the government can sell some of the state assets to complete ongoing projects in the state.

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