Following Governor Hope Uzodinma’s Shared Prosperity Government’s resolution to revitalize the moribund and confiscated industries owned by the state government and its determination to ensure their efficiency, the state took ownership of the Imo State Standard Shoes Company Limited of the Asset Management Corporation of Nigeria (AMCON), having paid all debts owed by the State through the previous administration on behalf of the company.
In a brief ceremony in Abuja to mark the official handover of Standard Shoes Company to the Imo State Government, AMCON Executive Director, Mr. Eberechukwu Uneze handed over all assets, documents as well as the C of O owned by the company of Governor Hope Uzodimma.
Mr Uneze explained that Standard Shoes Company Limited was about to be taken over as the company continued to swim in debts amounting to billions of naira over the years and no state government had made efforts to clear some or all of the debts. He added that he was happy that Governor Hope Uzodimma took the bull by the horns by paying off the debts, which only shows that he means well for his people and is ready to industrialize his state.
Governor Hope Uzodinma in his speech reiterated that one of the ways to ensure shared prosperity in the state is to industrialize the state which will create more jobs for the youths and foster development.
He said his administration will continue to ensure that state-owned companies that were illegally sold or privatized by previous administrations are recovered and that he will work to attract investors who will help create more companies through their investment, as this will stimulate economic growth. of State.
This is undoubtedly another victory for the state, as Imo Standard Shoes Company Limited will add to the state IGR, create employment opportunities for Imo youths and bring more economic and infrastructural development to the state.
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