Processes In Top Gear For Sale Of Four Moribund Assets In C’River
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The Boki and Nsadop Oil Palm Estates, Fish Hatchery in Ugboro, Bekwarra Local Government Area, Durafoam Industries in Ikom Local Government Area, and Ibonda Fish Hatchery in Odukpani Local Government Area owned by the Cross River State government are now up for sale.
The state’s privatization council has already initiated the processes for the sale, with a technical bidding session which was conducted at the Cross River Bureau of Public Procurement (BPP) office, where investors expressed satisfaction with the bidding procedures.
During the event, Chief Bassey Okon, Chairman of the Cross River State Privatization Council, underscored the council’s dedication to meticulous evaluation of bids received, according to the statement from the state government.
“We will carefully assess your technical expertise and capability to efficiently manage the companies to achieve the objectives of this privatization initiative,” he stated.
The Privatization Council Chairman informed that after the bid evaluation, successful bidders will be invited to inspect the companies they are interested in and subsequently submit their financial proposals.
Okon reassured participants that the process is designed to be transparent and adhere to due process, essential for upholding trust in the privatization exercise.
Highlighting the government’s broader vision, Okon emphasized that the state is committed to creating a conducive environment for investors, saying “the privatization aims to enhance operational efficiency, create employment opportunities, and boost the state’s revenue base.
“We are confident that the communities hosting these assets will benefit significantly in terms of employment and infrastructure development once the privatization is completed,” he remarked.
He commended the state governor, Sen. Bassey Otu, for approving the privatization the moribund industries and noted that previous administrations had attempted but failed to privatize these assets.
Mr. Sunday Ekeke, Chief Executive Officer of Sunfil Goldenroll Nigeria Ltd, a bidding company, commended the council for its transparency throughout the technical bidding process. He expressed confidence in the council’s commitment to transparency throughout the bidding process.
