Thursday, May 21, 2015

Borno Investment Company Collapse 

In a nation that intends to develop socially, economic and politically there must have a sound and viable industries that would improve its economic base. Borno state is one of the ancient states in the North East sub-region of Nigeria which has a lot of viable industries enterprise and cottage industries which are still lagging behind industrially.

Due to its dormancy, Borno Investment Company limited was incorporated in February 1981. As private limited liability company is which is fully owned by the Borno State Government, the organization which started operation of its business in April 1987 which was aimed to stimulate the promotion of both private and public investment in order to hasten the industrial growth and development of the state.

Main while Borno Investment Company formally commenced business with an authority capital of N3-5 million. It was however established among others in promoting Financial and implementing viable small medium and large scale project in manufacturing commercial financial and service sector of the nations. It’s economic through equity and loan investment. Borno Investment Company vested with the responsibility of monitoring state owned companies which include metal shoe state hate, Maiduguri international hotel, wire and nail factory as well as soda ash industry among others. Among the scope of operations government investment in public companies corporations, provide for the financial and technical advises to private individuals and companies in form of feasibility studies.

Which has not been given due priority is now dormant. Right from other successive governments. The viable companies owned by Borno state government only on operational the three neighboring countries to the stouts Chad, Niger, Cameroon would no doubt patronize out products which are produced by these companies when adequately monitor Borno state governments being the owner of such companies should courage investor by leasing such viable industries for proper management and have its share of the company or instead the government should inject more money in to the companies and engage the services of experts who can run them for the benefit and economic base of the people and government.If these companies are put in place the problem of unemployment in the stateWould improve drastically.Borno state government under the able leadership of his Excellency Kashim Shettima the executive governor of Borno state should look into the issue of reviving the dormant industries so as to boast the economic of the state.


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