The Bauchi State Government has disbursed N1.5 billion to acquire complete ownership of the long-neglected Steyr Nigeria Limited, aiming to rejuvenate the industrial site for the advancement of the state’s economic development.
Bala Mohammed, the State Governor, revealed during the official handover of the facility at Government House Bauchi that the state has also settled all outstanding entitlements owed to the Bank of Industry (BOI).
Farouk Mustapha, the Chairman of the Reclaiming Committee and Commissioner for Special Duties and Rural Development, praised the Governor’s choice to reclaim the company, highlighting its economic potential and advantages for the people of Bauchi State. The governor expressed sorrow that, due to years of neglect and mismanagement, the company had declined from being seen as a symbol of Nigeria’s industrial advancement to a refuge for crime and vice. Mohammed mentioned that talks are currently taking place with investors interested in producing agricultural machinery, CNG buses, electric vehicles, and solar-powered tricycles at the site.
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