Bauchi Eyes Revenue Increase As Statutory Earnings Plummet | Tellwell Newspaper
• Constructs Ultramodern Markets with Private Sector Partnership
Tellwell Newspaper, Abuja – Nigeria:
From Ahmad Saka, Bauchi
As the statutory allocations from the federation account continue to shrink, putting states in financial strains, Bauchi State government has begun exploring avenues for more internally-generated revenue (IGR) to augment its earnings.
One of such avenues is the reconstruction of township markets under a Public Private Partnership (PPP) arrangement with investors.
The state government has allocated 219 hectares of land for the reconstruction of Azare Ultra-modern market in partnership with Messrs Modern Shelter System and Services Limited with 648 shops targeted in the project.
At the ground breaking ceremony for the commencement of the reconstruction, the state governor, Senator Bala Mohammed, said the new IGR drive was necessitated by the need for the state government to look inward to generate revenue to reduce dependence on federation allocation for the execution of develooment programmes and projects.
He said the Azare ultra-modern market would comprise lock-up shops, open stalls, warehouses, poultry section and cold rooms, as well as the provision of fire service and security outpost, among others.
Governor Mohammed said the idea of constructing ultra-modern markets in various parts of the state is part of the deliberate policy of his administration to improve the economic fortune of the state.
The governor explained that the Azare Central Market, Bauchi Central Market and Muda Lawal Market, Bauchi have been pencilled down for upgrading to ultra-modern market status under the PPP arrangement.
“Today’s occasion marks a milestone in the economic development of not only Katagum Local Government but Bauchi State at large,” he stated, adding, “Since we came on board as a government in 2019 we have been making efforts to find ways and means of revitalizing and diversifying the economy of the State which will allow the government to concentrate on other areas such as health, education and security.”
He said the state government had offered various incentives to create an enabling environment for businesses to thrive, in addition to various activities to promote trade, industries and investments through the state’ Ministry of Commerce and Industry.
