Cross River set to privatize 34 government assets_ Council

The Cross River State Government says it is set to begin the privatisation of some State-owned assets in order to make them more functional.

The Chairman of Cross River State Privatization Council, Mr. John Odo said this while receiving the report of the Technical Committee on Referendum for the privatisation process in Calabar.

He said that the report which would be submitted to the State Governor was a tune-up to the privatisation.

He called on private investors from the State to indicate their interest in taking over some industries billed for privatisation in the State.

According to him, the Council would encourage local investors with the view to growing the state’s economy.

“We are going to encourage local content. So, I advise investors from Cross River to key into the exercise, once we are ready, ” he said.

The chairman stated that the report of the referendum would be submitted to the State Governor, having been adopted by the council.

According to him, the aim of the referendum was to consult widely to ensure, “accountability and transparency” in the whole process.

In his remarks, Chairman of the technical committee, Dr Jesophat Ogar said the Committee administered questionnaires to over 3000 respondents across the 18 Local Government Areas.

According to him, 34 assets belonging to the State were listed, adding that the results of the questionnaires showed that, 88 percent of respondents voted for privatisation.

“Twelve percent (12%} of the respondents indicated that privatisation should not be carried out on Government assets while 88 percent approved privatisation, ” he said.

He, however, said the Committee in its recommendations advised the council to convoke a larger stakeholders’ forum to continue deliberations on the best ways to go about the privatisation process for maximum result.

Speaking, the Permanent Secretary, State Ministry of Finance, Mr Gabriel Ikang commended the Technical Committee for a successful referendum.

Ikang said that the ministry was looking forward to successful privatisation, adding that the privatisation would add a lump sum into the coffers of the state.

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