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Kaduna to privatise 5 companies

20 January 2014, 20:56

Kaduna - The Kaduna State government on Monday said it would privatise its companies to boost commercial activities in the state.

Joshua Uchissa, the state’s Commissioner for Commerce and Industry, said this in an interview with the News Agency of Nigeria (NAN) in Kaduna.

The affected companies include Ikara Food Processing Company, Kachia Ginger Food Company, Kafanchan Food and Flour mills, Zaria Pharmaceutical Company and Zazzau Dairies.

Uchisa said the companies were not operational due to lack of working capital, adding, "that’s why government wanted to privatise them''.

The commissioner said an enabling law had been put in place to guide the privatisation programme.

He said a committee had been set up with the Commissioner for Finance as coordinator while that of commerce and industry would be among the members.

Uchisa said some investors had since indicated interest to take over the companies.

The commissioner particularly said that the transfer of ownership of Ikara Food Processing Company to ITCC would soon be processed.

He said ITCC would take over 78.15 per cent of the company’s equity holdings, while the state government would retain 22.85 per cent.

-    NAN


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