3rd April, 2017
The Oyo State Government has started the review of state-possessed moribund assets and different resources to relieve the government of unnecessary expenditure and excessive liabilities.
The Commissioner for Information, Culture and Tourism, Mr Toye Arulogun, made this known in an announcement in Ibadan on Sunday,
The moribund companies and assets being reviewed are: Conpole Limited, Cultural Centre and Nigeria Paper Mill Ibadan.
Others are, Trans Motel Jericho, Trans Motel Iseyin, Ado Awaye Lake, Bowers Tower, Cashew Industries Limited, Fasola ranches among others.
Arulogun said a board taking care of the review of the advantages would make proposals after an intensive assurance of their present feasibility, prospects and future financial advantages.
He said that the board was relied upon to revies them under three principle classifications and suggest them for Concession, Public Private Partnership (PPP) Arrangement or Outright sale.
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The commissioner clarified that the activity was in accordance with the aim of the administration’s 2017 Budget of Self-Reliance, he noted that these assets costs the state government huge expenditures regardless of their doomed state.
He said that government was more worried on the benefits yielding income instead of being source of waste of government funds.
“The Oyo State Government’s conviction is that instead of having these moribund assets lie idle across the state, we want to revamp those that can be revamped; concession some, put some on the PPP platform and sell others out rightly,“ he said.
He said that government would not hurry into making any decision on the moribund assets, including that contribution of pertinent partners, shareholders and the overall population would be required.
“The committee is consulting widely and still open to more contributions,” the commissioner said.
Arulogun said that the committee has been tasked to take after the standards of due determination in discharging its duties.
He clarified that the hopeless resources would be subjected to appropriate stock, examination and valuation before moves are made on them.