The Gombe State Government has formally handed over the assets of the now-defunct Gombe State Investment and Property Development Company to four strategic institutions, marking a major step in the state’s ongoing economic and institutional reforms.
The official handover ceremony took place on Friday, May 30, 2025, and reflects the administration’s commitment to sound economic governance, efficient public resource utilization, and the repositioning of state-owned enterprises for improved service delivery and investment promotion.
The transition followed a directive by Governor Muhammadu Inuwa Yahaya, CON, who has consistently pushed for reforms aimed at strengthening governance frameworks and enhancing operational efficiency within public institutions.
Assets formerly managed by the liquidated company have now been transferred to four key state institutions: the Gombe State Investment Promotion Agency (GOSIPA), the Gombe Revenue Optimization Company Limited (GROCOL), the Gombe State Housing Corporation (GSHC), and Gombe Securities.
Speaking at the ceremony, the Commissioner for Finance and Economic Development, Muhammad Gambo Magaji, who chaired the event, said the handover marks the end of a critical reform process and the beginning of a new era of strategic asset management.
“This exercise reflects the state government’s resolve to ensure that public assets are put to better use, serving the people and stimulating economic growth,” he said.
The assets were formally received by the heads of the respective agencies: Farouk Ibrahim Daudu for GOSIPA, Abdulkadir Usman for GROCOL, and Arc. Habu Shinga for GSHC. Representatives for Gombe Securities were also present.
The process was coordinated and executed by Muhammad Bello Kumo, the appointed liquidator of the defunct company and Permanent Secretary in the Ministry of Water, Environment and Forestry.
Also present were the Permanent Secretary, Ministry of Finance, Ahmed Yunusa Mohammed; Director of Administration and Finance, Musa M. Babaji; Director of Finance and Accounts, Yusuf A. Goje; a representative from the Debt Management Agency, Abdulkadir Abubakar Bello; and Barrister Alhassan Muazu from the Ministry of Justice.
Financial and management consultants from Sokson Consulting, Dr. Bala Auta and Haruna Hassan, who provided technical support throughout the process, were also in attendance.
