Governor Bassey Otu
By Anietie Akpan
Cross River State Government has commenced the process of privatizing four of her moribund industrial assets.
The assets which have been moribund for years now, include the Boki and Nsadop Oil Palm Estates, Fish Hatchery in Ugboro, Bekwarra Local Government Area (LGA), Durafoam Industries in Ikom LGA, and Ibonda Fish Hatchery in Odukpani LGA.
A press release by the Chief Press Secretary to the Governor, Nsa Gill, dated September 8, said the summited technical bids have been opened already and this is part of efforts by the state government to stimulate economic rejuvenation and employment opportunities.
The opening of the technical bid session was conducted at the Cross River Bureau of Public Procurement (BPP) office, where investors expressed satisfaction with the bidding procedures.
Speaking at the event, the Chairman of the Cross River State Privatization Council, Chief Bassey Okon, underscored the council’s dedication to the meticulous evaluation of bids received.
“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 said after the bid evaluation, successful bidders will be invited to inspect the companies they are interested in and subsequently submit their financial proposals.
He reassured participants that the process is designed to be transparent and adhere to due process, essential for upholding trust in the privatization exercise.
Highlighting 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 commended the state governor, Sen. Bassey Otu, for approving the privatization of the moribund industries and noted that previous administrations had attempted privatizing these assets but failed.
Okon gave the assurance that as the open competitive bidding process progresses, the state government remains committed to ensuring that the privatization of these dormant assets will lead to sustainable economic growth and enhance the quality of life for its residents.
One of the bidders, the Chief Executive Officer of Sunfil Goldenroll Nigeria Ltd, Mr. Sunday Ekeke, commended the council for its transparency throughout the technical bidding process and expressed confidence in the council’s commitment to transparency throughout the bidding process.
