Kogi Mulls Selling Of Govt Properties To Address Infrastructural Deficit

As part of the efforts to tackle the infrastructural challenges bedevilling it, The Kogi government on Wednesday said it was considering selling some dormant assets of the state to raise funds for infrastructural development.

The state government disclosed this in a statement issued by its commissioner for information and communication, Kingsley Fanwo.

Fanwo also aid the government is also considering “divesting from business ventures.”

He said the government will hand over some businesses such as hotels and transportation to the private sector to focus on creating conducive and enabling environment for businesses to grow.

He added that the prevailing circumstances require that the state adjust its policy direction so as to enable complete projects and start one.

The government, Fanwo added, is “evolving a policy to systematically ease herself out of business ventures that are not critical needs of the people and which could be better managed by the private sector.”

“The present administration is working on a plan to concentrate on infrastructural development and create a conducive environment for businesses to thrive,” he said.

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“Over the years, certain businesses such as Hotel Management and Transportation have been mismanaged by Government. This administration will not follow that path.

“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 create a conducive environment for economic prosperity.

“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.”

Fanwo added that the current realities require the state to “reorder our priorities and look into how we can complete our ongoing projects as well as initiate new impact ones.”

“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,” he said.

“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.”