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Nigeria: AC queries government on new glass company

The Action Congress (AC) in Nigeria has queried plans by the government to establish another multi-billion naira glass company in Ondo state to replace the debt-ridden Oluwa Glass Company, saying it w…

The Action Congress (AC) in Nigeria has queried plans by the government to establish another multi-billion naira glass company in Ondo state to replace the debt-ridden Oluwa Glass Company, saying it would amount to a waste of government resources. The chief of staff to the Governor, Femi Agagu, recently said that the state government was planning to establish another glass company following the huge debt burden left by the moribund Oluwa Glass Company at Igbokoda in the Ilaje area of the state, which had gone into liquidation. Agagu said that the new company would be private-sector driven, pointing out that the amount “required to revive the place was about NGN 3 billion, the amount that would establish two additional factories”. However, in a statement signed by the Chairman Publicity Committee, Prince Olu Adegboro, in Akure, the AC said the people of the state were not “informed about the status of Oluwa Glass Factory”. “Action Congress frowned on the matter. The state government had been dealing with the firms and other items of property handed down to the people by the founding fathers of the state.” “If the company is well refurbished and soundly managed, companies in the state such as Oluwa Glass, Igbokoda; Cocoa Industry, Ile Oluji; the Ceramic Company, Ifon and others would provide needed jobs for the teeming youths of Ondo state.” The party also said that some of the companies were sold out by the government of military administrator Olabode George, but were repurchased by Chief Adebayo Adefarati“s government. It also wondered why the democratically-elected government “has chosen to follow the footsteps of a dishonoured military government”.

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