The Bauchi State Government has officially taken over Steyr Nigeria Limited, a once-thriving industrial facility, with a promise to revive it into a hub for manufacturing and job creation.
Speaking during the handover ceremony, Governor Bala Mohammed announced that the Bauchi State Government paid N1.5 billion, the book value of the facility, to secure full ownership and has already cleared all entitlements owed to the Bank of Industry.
The Governor lamented the collapse of the company due to mismanagement and neglect by previous owners, which led to the facility falling into disrepair and becoming a hotspot for criminality and immoral activities.
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