Edo plans to privatise ailing industries

Edo State government says plans are underway to privatise or resuscitate its ailing industries across the state.

BusinessDay reports that the state governor, Adams Oshiomhole, gave the hint at the opening of the 2014 Edo State Trade Fair in Benin City with the theme, “Great People, Bountiful Resources, and Boundless Opportunities.”

The trade fair is put in place by Mactstacoprime Partners Limited, in partnership with the Benin Chamber of Commerce, Industry, Mines and Agriculture (BENCCIMA), and the Edo State Ministry of Commerce and Industry.

Oshiomhole, who was represented by Julius Ihonvbere, secretary to the state government, said the decision that would commence next financial year was geared towards giving boost to the state government’s drive for job creation and building of a sustainable economy.

The state government has concluded plans for the construction of industrial, furniture and specialised market for industrial goods, he said, saying the state government has also concluded arrangement through micro-finance banks to grant interest-free credit facilities to market women and micro business operators in the state.

While assuring government continued support to private sector initiatives, he promised to provide more enabling environment for investment to flourish, adding that the state government would periodically adjust its policy framework in order to meet global standards.

He posited that as part of measures to attract investors, the state government had in the last few years reformed the process of land acquisition for investment and economic purposes, and disclosed that “the process of land documentation at the moment takes within 48 hours to complete, while the processing and issuance of certificate of occupancy take within 30 days.”

Earlier in a welcome address, Andy Edobor, president of BENCCIMA, commended the state government for organising the fair, which he noted, was last held about six years ago.

Edobor opined that the fair would provide a proper avenue to re-launch the state trade fair, provide opportunity for entrepreneurs to exchange ideas and break new grounds that would translate into commercial and industrial growth in the state in particular and Nigeria in general.

He however called on the state government to address the deplorable infrastructural decay in the permanent site of the state trade fair complex.

Austin Atakpu, chairman of the trade fair steering committee, called on manufacturers, entrepreneurs and Small and Medium Enterprises (SMEs) operators across the country to invest in the state as a result of good enabling environment provided by the government.

IDRIS UMAR MOMOH