Oyo State Government says it is ready to take appropriate steps on the state-owned moribund companies and other wasting assets to relieve government unnecessary expenditure.
Mr. Toye Arulogun, the State’s Commissioner for Information, Culture and Tourism, revealed that the moribund and wasting assets are being reviewed by a committee that will make recommendations for such assets under three main categories after a thorough determination of their current viability and prospects of future economic benefits.
Mr Arulogun said that the committee has been mandated to follow the principles of due diligence in discharging its responsibilities.
The three categories which the Moribund and Wasting Assets Committee is expected to recommend such companies for Concession, Public Private Partnership Arrangement and Outright sale. Some of the moribund companies and wasting assets being reviewed are Conpole Limited, Cultural Centre, Nigeria Paper Mill Ibadan, Trans Motel Jericho, Trans Motel Iseyin, Ado Awaye Lake, Bowers Tower, Cashew Industrial Limited, Fasola farms amongst others.
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