Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills - Politics (2)

Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills (5857 Views)

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Re: Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills by BarrNosaEsq: 10:29pm On Sep 17, 2024

Munzy14:
This will encourage maize cultivation in massive way in Enugu.

Re: Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills by MasterTeeUSA: 11:30pm On Sep 17, 2024

He is doing what has stopped some regions from progressing. It is OUR land is now a thing of the past. If every part of Nigeria adopts this and allows business to thrive in every nook of the nation, we will be like the West. ENUGU is truly open for business, and this Gov is one of the top-performing Govs among equals.

adamusuleiman3:
https://www.vanguardngr.com/2024/09/enugu-state-govt-jelfah-group-sign-n40bn-deal-to-revitalise-moribund-sunrise-mills/amp/

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Re: Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills by Ttipsy(f): 11:37pm On Sep 17, 2024

Good news

Re: Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills by Arostar2023: 2:15am On Sep 18, 2024

sulaak:
The investment is in a moribond flour mill that has never been functional due to IBB's useless IMF SAP policies that removed investment in local investment to a culture of importation.

These are the investments that the state needs to be making. Revamp old projects and bring them back to life.

I wonder who will invest in a 1983 flour mill with concrete silos, that has been moribund since 1985. All these government I don't trust them...deals like this are sometimes conduits for money laundering. Time will tell.

Re: Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills by sulaak(m): 5:56am On Sep 18, 2024

Arostar2023:
I wonder who will invest in a 1983 flour mill with concrete silos, that has been moribund since 1985. All these government I don't trust them...deals like this are sometimes conduits for money laundering. Time will tell.

Working with existing infrastructure is cheaper and faster, but starting fresh will require significant investment in rehabilitation and new electronic systems.

What the governor is doing to rehabilitate existing infrastructure is the right path; unfortunately, the governor is untrustworthy.

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Re: Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills by VanuatuWycombe: 10:30am On Sep 19, 2024

adamusuleiman3:
https://www.vanguardngr.com/2024/09/enugu-state-govt-jelfah-group-sign-n40bn-deal-to-revitalise-moribund-sunrise-mills/amp/

It will still go moribund, so long government’s stake is up to 40%.

Reduce government’s stake to just 10%. This will be easy to manage and fund and may be be seeing as non-viable for successive governors.

40% is a controlling interest, in accounting, which could give the government to exercise significant influence on the company.
This may lead to state government putting inexperienced people on the Board and other Executive positions etc.

On a lighter note, is the Mill ready to compete with those Indian mills scattered all over Nigeria?

Those ones can play balls. If you know, you know.

Re: Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills by lawani(m): 12:12pm On Sep 19, 2024

VanuatuWycombe:
It will still go moribund, so long government’s stake is up to 40%.

Reduce government’s stake to just 10%. This will be easy to manage and fund and may be be seeing as non-viable for successive governors.

40% is a controlling interest, in accounting, which could give the government to exercise significant influence on the company.
This may lead to state government putting inexperienced people on the Board and other Executive positions etc.

On a lighter note, is the Mill ready to compete with those Indian mills scattered all over Nigeria?

Those ones can play balls. If you know, you know.

There are still some companies functioning properly owned by the Oodua group of companies

Re: Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills by VanuatuWycombe: 12:48am On Sep 20, 2024

lawani:
There are still some companies functioning properly owned by the Oodua group of companies

Check the % of ownership.

Other than Wema Bank, Oodua Group’s remaining subsidiaries are performing below average.

A reduced stake in those subsidiaries, by government, would have enhanced their performances.

You can imagine Visa Phone, Starcoms etc that were even owned (majorly) by private investors died. Where is Ooduatel?
Where is Cocoa Industries? Where is Epe Plywood? I can continue mentioning them.

Wemabod Estate is not dead yet because of housing shortage in Lagos and in Nigeria.

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Re: Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills by lawani(m): 6:06am On Sep 20, 2024

VanuatuWycombe:
Check the % of ownership.

Other than Wema Bank, Oodua Group’s remaining subsidiaries are performing below average.

A reduced stake in those subsidiaries, by government, would have enhanced their performances.

You can imagine Visa Phone, Starcoms etc that were even owned (majorly) by private investors died. Where is Ooduatel?
Where is Cocoa Industries? Where is Epe Plywood? I can continue mentioning them.

Wemabod Estate is not dead yet because of housing shortage in Lagos and in Nigeria.

I agree that government should concentrate more on governance rather than majority stakes in business visions but they are free to take risks too.

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Re: Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills by VanuatuWycombe: 8:03am On Sep 20, 2024

lawani:
I agree that government should concentrate more on governance rather than majority stakes in business visions but they are free to take risks too.

Yes. They are. It’s not even that they can’t take more risks but you see the level of corr.uption, NEPOTISM, bigotry, tribalism going on in public service ehn, it won’t allow government to operate, optimally, in any business it ventures into the moment such government has significant influence/control on such companies.
That’s what killed all government businesses that d.ied.

Fear civil servants before you fear Satan.

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Re: Enugu, Jelfah Group, Sign ₦‎40 Billion Deal To Revitalise Moribund Sunrise Mills by lawani(m): 9:40am On Sep 20, 2024

VanuatuWycombe:
Yes. They are. It’s not even that they can’t take more risks but you see the level of corr.uption, NEPOTISM, bigotry, tribalism going on in public service ehn, it won’t allow government to operate, optimally, in any business it ventures into the moment such government has significant influence/control on such companies.
That’s what killed all government businesses that d.ied.

Fear civil servants before you fear Satan.

Most start ups fail, whether owned by government or not. Government should focus on governance but there is nothing wrong in taking risks once in a while too.

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