In a landmark move to revive Bauchi State’s industrial base and boost employment, Governor Bala Abdulkadir Mohammed has announced the successful recovery of Steyr Nigeria Ltd by the state government.
Governor Mohammed made the disclosure while unveiling his administration’s vision for the facility’s redevelopment, describing Steyr as a once-vibrant industrial asset that declined over the years due to poor management.
He commended the Bank of Industry and the Federal Government for their collaboration in facilitating the handover, stating that Bauchi State had committed over ₦1.5 billion to acquire the company and clear all outstanding liabilities.
“This is a strategic investment aimed at repositioning Bauchi for industrial growth, job creation, and technological advancement. We are grateful for the cooperation we received throughout the recovery process,” he said.
The Governor also revealed that his administration has earmarked ₦615 million to settle outstanding entitlements owed to former staff of the company, with payment expected to commence next month.
Outlining future plans, Governor Mohammed said the state government would transform the Steyr premises into a modern industrial hub. Proposed ventures include the production of agricultural machinery, compressed natural gas (CNG) buses, electric vehicles, and solar-powered tricycles.
He assured the public of transparency in the redevelopment process and warned against land speculation and encroachment around the facility.
Speaking at the event, Chairman of the Handover Committee and Commissioner for Special Duties, Hon. Farouk Mustapha, praised the Governor’s leadership and vision. He confirmed that although documentation is still ongoing, operational control of the company has officially been handed over to the state.
The recovery of Steyr Nigeria Ltd is seen as a major milestone in the administration’s broader strategy to industrialize Bauchi State and attract sustainable investments in manufacturing and technology.
