Taraba State sets to Privatize Mambilla Beverages Nig. Ltd.
On September 10, 2012, Mambila Beverages Nigeria Limited was established as a private limited liability company to manage the assets that the Taraba State Government had purchased following the collapse of the 1982-founded Nigeria Beverages Production Company Limited. To conduct the business of cultivating, producing, and marketing tea, coffee, and other types of beverages, it was incorporated.
The Taraba State Government owns all shares of the company. The company's headquarters are in Kakara, in the Nigerian state of Taraba's Sardauna Local Government Area. The head office is made up of an estate, a 615-hectare tea plantation, and a factory with an installed capacity of 1.6 million kilograms of tea per year. The marketing offices are situated in Gembu, Jalingo, Gombe, and Kano.
The wings of tarabans have been flying so high about the privatization of the Mambilla Company for the benefit of the incumbent governor Arch. Darius Dickson Ishaku. However, this took a new twist after the Managing Director Taraba Investments and Properties Limited clarified tarabans on the needs and reasons for such privatization.
SENSITIZATION ON THE PROPOSED PRIVATIZATION OF MAMBILA BEVERAGES NIGERIA LIMITED
The general public is hereby invited to note that, Mambila Beverages Nig. Limited is solely owned by the Taraba state Government.Accordingly, in order to improve profitability, productivity, efficiency and job opportunities for the benefits of Tarabans, the state Government is proposing to privatize the company to ensure proper and efficient management devoid of Government interference and bureaucracies.The state Government shall also ensure that the internet of the workers and the host community are adequately protected within the confines of the Law in the privatization process.Finally, the general public is also advised to disregard any rumours that Mambila Beverages (Nig) Limited belongs to a particular community.These are rumours by mischief maker's aimed at creating dissatisfaction and raising unnecessary tension amongst members of the unsuspecting public.27/06/2022
Group Managing Director/ CEOTaraba investment and properties Limited
Prior to now, The Nigerian Agricultural and Co-operative Bank (NACB) supplied the primary financing for the development of the Tea Estate, the construction of the Tea Factory, and the procurement and installation of the Tea Factory Machines.
The European Economic Union provided the company with a financial grant between 1993 and 1996, which led to the expansion of the tea hectares to 600, the construction of a 10.26 million cubic meters irrigation dam, the modernization of some machinery in the factory, and the building of a 14 km tarred road from Nguroje to Kakara.
Sales of tea were used to fund the company's financial activities starting in September 2012. The Taraba State Government provided loans to the Company in 2014 to assist in modernizing the factory and enlarging the farm.