Abia State government has moved to revive four moribund Industries in Aba, which include Afro Beverages, Aba Textile Mills, International Equitable Association, and Ken Biscuits.
The commissioner for Information, Okey Kanu, said this at a press briefing on this week’s executive council meeting, which Governor Alex Otti chaired in Umuahia, the state capital.
His words, “This is in line with the government’s economic policies of revitalising moribund companies and selling the same to serious and capable investors.”
He said the overarching interest of the government in doing this is to ensure that such companies will create job opportunities and internally generated revenue for the state
Kanu also said the government had received a letter of approval from the Asset Management Corporation of Nigeria to own and revitalise the moribund Star Paper Mill in the town.
”Our stake in the company, when fully operational, will be minimal, but enough to ensure that the state remains well-positioned to monitor the company’s activities.
According to the commissioner, this ensures that the government and the people of the state are not shortchanged in any way or manner.”
