Kogi State Govt To Sell Non-Performing Assets To Raise Money for Infrastructural Development in The State

The Government of Kogi State has revealed it plans to sell some non-performing assets of the state to raise Money for infrastructural development in the State.

The development was disclose in a statement signed by the State Commissioner for Information and Communication, Mr. Kingsley Fanwo on Wednesday.

In his explanation, Fanwo said Kogi government is developing policy to systematically ease herself out of business ventures that are not seriously needed by Kogi people and which could be better managed by the private sector.

“We are looking at the assets of the state. There are some assets that government kept spending huge sums to maintain and they are not bringing any income to the state.

“The economic reality of today means that we have to reorder our priorities and look into how we can complete our ongoing projects as well as initiate new impact ones. “Economically, the world is going through a new normal and smart states like ours will have to cut costs and recharge our revenue generating batteries to ensure our people are served and served well,” he said.

He said all government activities in this regard will be “transparent, fair and in the best interest of the good people of Kogi state”, assuring the people of government’s commitment to improving infrastructure and stimulate the economy of the state. “The present administration is working on a plan to concentrate on infrastructural development and create a conducive environment for businesses to thrive.

“Over the years, certain businesses such as hotel management and transportation have been mismanaged by government. This administration will not follow that path. READ  In The Face of Uncertainties Between Bello and Dino

“Businesses like hotel management and transportation and others in that belt, are better managed by the private sector. Government has no more resources to waste on businesses rendering services that are better rendered by private concerns.

“The economic team of government has been charged to come up with plan that will gradually cede the major economic play to the private sector while government concentrates on regulating the economy and also creates a conducive environment for economic prosperity.”