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Borno to inject N1bn to revitalise Maiduguri Flour Mills

20 January 2014, 20:56

Maiduguri - Governor Kashim Shettima of Borno said the state government plans to inject about N1 billion to revitalise the Maiduguri Flour Mills.

Shettima stated this while receiving a delegation of the state chapter of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) in Maiduguri.

He said that the government was negotiating with owners of the company and would be ready to inject between N500 million and  N1billion once they reached an agreement.

“The Maiduguri Flour Mills is very dear to us, as it is the only functional factory in the state for a very long time.

“We were disturbed about the shut down, so we wrote a letter to the Board of Directors on our intention to intervene.

“We have made inquiries in the company and we found out that the machines are in good shape.

“What is lacking is the inputs which can only be sourced with capital,'' Shettima said.

He said however that owners of the company must agree to the government terms before it injects the fund.

“The shareholders structure must change with the government’s intervention, so that we can have a certain control to safeguard our funds.

“Once this is agreed upon, we will go ahead to release the fund, as our priority is to get the company back in operation, the governor said.

Earlier, the NLC Chairman, Comrade Titus Abana commended the state government for its numerous developmental projects.

“As partners in the Borno project, the generality of the state workforce have observed with keen interest your efforts in transforming the state in spite of unimaginable obstacles, he said.”

Maiduguri Flour Mills, a subsidiary of the Flour Mills of Nigeria, was shut down in August 2013 due to shortage of operating capital.



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