We’re Deliberating On Selling State Assets That Are Not Bringing Income So We Can Have Fund For Infrastructure – Kogi Govt

The state government of Kogi has said it is contemplating laying off some non-performing assets of the state to raise capital for infrastructural development.

In an official statement released on Wednesday, Kingsley Fanwo, Kogi commissioner for information and communication, said that the government is also envisaging “divesting from business ventures.”

The commissioner stated that the government will give up some businesses such as hotels and transportation to the private sector in order to concentrate on establishing enabling environment for businesses to blossom.

Fanwo said the government 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.

“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.”

The commissioner further said the current realities compel 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.”