₦airaland Forum

The Bayelsa State Government says it has concluded arrangements to commercialise some of its parastatals and agencies.

The measure is to enable the state to diversify the local economy in the face of dwindling revenues from the Federation Account, a Government House statement said on Thursday.

The statement quoted the State Chief Economic Adviser, Mr. Duate Iyabi, as saying the resolution was reached at the 59th Executive Council meeting of the state government in Yenagoa, as part of efforts to move away from its mono-economy.


According to Iyabi, the three key areas of the government’s focus will be on power generation, agriculture as well as land ownership and housing, as the administration can no longer sustain its recurrent expenditure from the federal allocation.

He explained that the government’s decision to commercialize the state-owned parastatals and agencies was born out of its inability to properly manage its businesses.

He stressed that the move would boost the internally generated revenue of the state.

On power generation, Iyabi described the sector as an area where the state has comparative advantage in, noting that arrangements were underway to attract power developers to set up their plants and sell power to the national grid.

On the provision of housing, he noted that the government had identified two key locations in the state where it would embark on the construction of low cost houses, medium and high-brow houses for the people under a public, private partnership.

Also, the Commissioner for Trade, Industry and Investment, Kemela Okara, said the commercialisation policy was targeted at realising the full potential of the agencies and the parastatals with a view to ensuring job creation, revenue generation and efficient service delivery.

Allaying the fears of workers, Okara explained that the government would carry out an audit exercise in such enterprises with a view to ascertaining their economic viability.

He said, “The primary objective is that we want to achieve the true economic potential of these enterprises because the idea behind setting them up in the first place was very good.

“The question is managing them effectively. So, the fate of the workers would be greatly enhanced; the objective at the end of the day is to increase the number of opportunities for jobs. So we must keep faith with the exercise.”

On the proposed industrial park, he said construction work on the first phase of the project would commence before the end of the year as a lot of “off taker companies” had shown interest in the project.

http://punchng.com/economic-hardship-bayelsa-plans-commercialise-parastatals-agencies/

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Hmmmm. Serious magana

Aphrygian:
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tot some pple here was abusing oyo state because they want to privatise education sector. Now see a state with the population of iwo road. Ah no fit laff.

Una don wake too? I think the reality has eventually dawn on all, that crude oil sales/a mono economy is a silly thing to rely on . . . and those NDA simpletons are still stuck in 2011.

Good development...

Aphrygian:
tot some pple here was abusing oyo state because they want to privatise education sector. Now see a state with the population of iwo road. Ah no fit laff.

Population of Iwo road? Privatising of public schools?

Naija need Jehova intervention

that my big for nothing yeye big lips governor , he is a true DICKson

If all state complain of fund it should not be bayelsa

This state should have a refinery
This state should have the largest rice Mill in the world
This state should distill and export 1 billion gallons of ethanol a year

But Jonathan, sylva, alams, and now the present governor mismanaged their funds. .. ..

Go to Bayelsa all u see are fine houses and bad roads....

The land is the best for rice cultivation (you can plant twice a year.. Without irrigation)

Plantain perform very well there
. Catfish is found in the bush (but now they import from ibadan


Bayelsa is an example of what I'd wrong with Nigeria

Trial and error

Rochas Okorocha said this since last year and people thought it was wrong. Without commercialization of parastatals our Government will remain father Christmas where more than 100% of the monthly allocation is used for payment of salary. The parastatals were created to be self sustaining and not as financial drain.

http://www.myfinancialintelligence.com/content/labour-imo-rejects-okorocha’s-policies-may-down-tools

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Abagworo:
Rochas Okorocha said this since last year and people thought it was wrong. Without commercialization of parastatals our Government will remain father Christmas where more than 100% of the monthly allocation is used for payment of salary. The parastatals were created to be self sustaining and not as financial drain.

http://www.myfinancialintelligence.com/content/labour-imo-rejects-okorocha’s-policies-may-down-tools

commercialization of government,that means we can have part time governors and legislature.