By Marie-Therese Nanlong
In order to increase its revenue base and create opportunity for improved students’ practical, University of Jos (UNIJOS) has acquired 75% shares of the Naraguta Bricks and Clay Company Limited recently privatized by the Federal Government which had divested its interest in the company.
The company, located in Naraguta community of Jos North local government area, the neighbourhood of the permanent site of the university, had been commissioned in 1979 with the objective of producing bricks and building materials of different kinds. The Federal Government, before divesting its interest, had 75% of the shares while Plateau State government had 25%.
The university has now acquired the Federal Government’s share while the state government, through one of its agencies, the Plateau State Property and Investment Company, PIPC, maintains its 25% of the shares.
Addressing the investors while handing over the company’s certificate to UNIJOS, the Director-General of the Bureau of Public Enterprise, BPE, Mr. Alex Okoh, congratulated the university, being the new investor, and urged all partners to work diligently to resuscitate the company which has been redundant for over a decade.