Following the resolve of the shared prosperity government of Gov. Hope Uzodimma to revitalize moribund and confiscated industries owned by the state government and his determination to ensure they become efficient, the state has taken the ownership of the Imo State Standard Shoes Company Limited from the Asset Management Corporation of Nigeria(AMCON), having paid all debts owed by the state through the previous administration on behalf of the company.
In a brief ceremony in Abuja to mark the official hand over of Standard Shoes Company to Imo State Government, the Executive Director of AMCON, Mr. Eberechukwu Uneze handed over all the assets, documents as well as the C of O belonging to the company to Gov. Hope Uzodimma.
Mr. Uneze explained that Standard Shoes Company Limited was marked for take over as the company continued to swim in debts running into billions of naira over the years and no government in the state has made efforts to clear either part or the whole debts. He added that he is happy that Gov. Hope Uzodimma has taken the bull by the horn by paying off the debts which only shows that he means well for his people and ready to industrialize his state.
Gov. Hope Uzodimma in his speech, reiterated that one of the ways to ensure shared prosperity in the State is to industrialize the state which will further create employment for youths and bring about development.
He maintained that his administration will continue to ensure that state owned companies that were illegally sold off or privatized by previous administrations will be recovered and he will work towards attracting investors that will help set up more companies through their investment as it will boost the economic growth of the state.
This is no doubt another win for the state as Imo Standard Shoes Company Limited will add up to the IGR of the state, create employment opportunities for Imo Youths and further bring about both economic and infrastructural development to the state.