Makinde Hands Over State’s Moribund Fruit Juice Company To Investor

Oyo State governor, Engineer Seyi Makinde, on Thursday, officially kickstarted the process of reviving the moribund Pacesetter Fruit Processing Company, Oko, when he handed it over to AGVEST Limited.

The event, which took place at the premises of the company in Oko, Surulere South Local Council Development Area, was attended by government functionaries, traditional rulers and chairmen of all local governments and local council development areas in Ogbomosoland.

While performing the handover ceremony, Governor Makinde maintained that the revival of the company will bring economic development to the state.

He said: “I am happy to be here in Oko this afternoon. When I was in Tampa, Florida, earlier this year to preach Oyo State to the world, I stated that there are big opportunities in Oyo State and it was not an exaggeration.

“Oyo State is truly blessed with an abundance of human and natural resources. “So, our job, quite frankly, is to annex the abundant resources for the benefit of our people.”

A statement by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, indicated that the Governor Makinde administration has embarked on massive resuscitation of moribund state-owned companies and other facilities through Public-Private Partnership arrangements and concessionaires.

The statement noted that the resuscitation of the Pacesetter Asphalt and Quarry Limited, Ijaiye, the handover of moribund Agbowo Shopping Complex, Ibadan, which will now be turned to a state of the art commercial real estate facility and a 4-star hotel were among some of the steps already taken by the government to expand the economy of the state.

Speaking during the handover, the governor said that his administration has been getting results in terms of economic expansion, because it has created a conducive environment for businesses to thrive.

He said: “Today, we are here to welcome another investor into our midst. We are bringing to life another company that has been moribund for almost a decade, Pacesetter Fruits Processing Limited. This company was established during the administration of former governor, Senator Rashidi Ladoja in 2007.

“However, it never commenced operation. And as I have always stated, government is a continuum and our administration will ensure that people in Oyo State benefit from abandoned or moribund projects to which the funds of the state have been committed.

“They did not use anybody’s father’s money. They used Oyo State money to set this up. So, the state must derive value from the money they have put into this.

“The state government has no business in running businesses. Businesses should be left in the hands of corporate organisations who know how to run them and make a profit. The role of government is to create an enabling environment so that more of the private entities will be attracted to the state. And this is exactly what we are doing in Oyo State. As you can see, we are getting results.