Sokoto Govt, Turkish Investors Partner To Revive Moribund Factory

 Head of investors team, Resul Aslan during inspection

Sokoto state government says it is partnering with investors from Turkey to revive the moribund state-owned furniture company.

Conducting the visiting investors round the factory, Managing Director of Sokoto Investment Company, Aliyu Bala Sokoto, said government is determined to bring the company back to its former glory.
Team Leader of the MUSIAD Group, Resul Aslan, said a comprehensive report on the status of the company will soon be presented.
According to him, his Group is delighted with the collaboration, and expressed optimism that the factory will soon return to full production.
Though important to Sokoto economy in the 80s and 90s, a downturn in the fortune of the Sokoto Furniture Company led to its closure and despite provision of loan by the Asset Management Company of Nigeria (AMCON) in efforts to revive it, not much was achieved.
At its peak, Sokoto Furniture was one of the largest furniture companies in the North, employing more than 10,000 workers and serving clients from as far as neighbouring Niger Republic.

Governor Aminu Waziri Tambuwal in 2015 cleared the N1.5 billion AMCON debt and took back possession of the company, with a promise to revive it in partnership with private partners.

Donate to Precision


Please enter your comment!
Please enter your name here