From Abdul Ardo
After being inactive for over fifteen years,
the Bauchi State Government has paid one point five billion naira to take full ownership of the long-abandoned Steyr Nigeria Limited, with the aim of reviving the industrial facility to boost the state’s economic development.
The State Governor Bala Mohammed who disclosed this during the formal handover of the facility at Government House Bauchi He said that the state has also cleared all outstanding entitlements owed to the Bank of Industry BOI.
Governor Bala lamented that the company which formerly regarded as a beacon of industrial growth in Nigeria had deteriorated into a hideout for criminal activities and immorality due to years of neglect and mismanagement
The Governor said that discussions are ongoing with investors who have expressed interest in manufacturing agricultural machinery, CNG buses, electric vehicles, and solar-powered tricycles at the facility.
Governor Bala Mohammed,, described Steyr as once a beacon of industrial success that deteriorated due to mismanagement
He decried the decay and misuse of the facility and thanked the Bank of Industry and the Federal Government for their support in reclaiming the asset.
Governor said that the state Government paid ₦1.5 billion to secure full ownership and has cleared all obligations to the Bank of Industry. The government also committed to settling ₦615 million owed to former staff by next month.
He announced plans to transform the site into a multi-purpose industrial hub, attracting credible investors to assemble agricultural machinery, CNG buses, electric vehicles, and solar tricycles. He vowed transparency and ruled out land speculation.
Governor Bala sent his Deputy Awwal Muhammad Jatau to the company and collected all the documents
Chairman of the committee set up by the Governor to reclaim back the company Alhaji
Farouk Mustapha, Commissioner for Special Duties , praised Governor Bala Mohammed’s vision and leadership, crediting him for steering the acquisition process and prioritizing Bauchi’s economic future.
Mustapha confirmed that while documentation is ongoing, full control of the facility has been handed over.
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