The Cross River State government has launched the privatization process for four of its non-functional industries, officially opening the bidding process.
The industries up for privatization include the Boki and Nsadop Oil Palm Estates, the Fish Hatchery in Ugboro (Bekwarra Local Government Area), Durafoam Industries in Ikom Local Government Area, and the Ibonda Fish Hatchery in Odukpani Local Government Area.
According to the State Privatization Council, these assets are fully owned by the state government and carry no liabilities.
The Cross River Bureau of Public Procurement (BPP) has successfully completed the technical bidding phase for these industries.
Chief Bassey Okon, Chairman of the State Privatization Council, emphasized the council’s commitment to thoroughly evaluating all bids. He assured participants that the process would be transparent and adhere strictly to due process, maintaining public confidence in the privatization effort.
