Bauchi company seeks N1bn loan to restart operations

The Board of Directors of the Bauchi Publishing and Printing Company (BPPC) has unveiled plans to revive its two flagship newspapers, Trumpeter and Kakaki, which have been out of circulation since 2005 following the company’s closure.

The decision was announced during the company’s 5th Annual General Meeting (AGM) held in Bauchi on Thursday.

Chairman of the Board and State Commissioner for Information, Usman Shehu Usman, briefed journalists after the meeting, revealing that the management is in talks to secure a N1 billion loan aimed at acquiring modern digital printing equipment.

According to Usman, the digital upgrade would enable the company to deliver high-quality prints and attract premium clients nationwide.

He stated, “The loan would attract only nine percent interest rate.”

Usman emphasized that the move follows a careful evaluation of the commercial potential of printing services, noting that both the state government and private shareholders have identified various opportunities the company can leverage for revival.

He disclosed that BPPC, jointly owned by the Bauchi State Government and private investors, plans to increase its share capital from N30 million to N250 million. The chairman also reassured potential investors of future returns.

The AGM was attended by the company’s Managing Director, Aminu Muhammed Danmaliki, along with other directors.

“On behalf of the Board and Management l sincerely apologise to our shareholders who have invested in the company since 1995 without getting any return,” Usman said.

“Unfortunately, the company was closed down since 1995.

“As a result of the long closure of the company four key shareholders have sold their shares valued at 10,000,000, they are: Gombe State Government, Fama Development Ent. Nig. Ltd, Satellite Engineering Services Nig. Ltd, and Alauwara Nig. Ltd.”

He went on to name the current shareholders of the company, which include several individual investors, Media Need (Nig) Ltd, the Bauchi State Government, and the 15 Local Government Areas of the state.

Usman said the company is now prepared to resume publication of Trumpeter and Kakaki to enhance public access to information. He also outlined plans to diversify into commercial printing and related ventures.

“The company is viable and can be a major source of revenue for its shareholders,” he stated.

“The problems facing it is simple, ‘instability which was caused by government’s action or inactions.

“”Even though the production of newspapers is a social service function, it is our intention to continue producing.

“The Trumpeter and its stable mate Kakaki. This is is because there exists a very real need for a newspaper for Bauchi State.

“While news from the state may get favourable coverage in other papers, this can never be enough. Since there is the need to boost and harness the awareness of the people of Bauchi and mobilise them to participate fully in the government’s development programmes and the dire need for bridging the communication gap between the government and its people, a state own newspaper is the best placed medium to achieve this.

“Indeed, there is the need to maintain an organ for projecting the image of the state, the views of its people along with their achievements and problems to the outside world. Therefore, views and comments that will appear on the pages of The Trumpeter will be in consonance with yearnings and aspirations of the people of Bauchi State in particular and the country in general. Since there is no one who will do all this for us, we have to blow our own Trumpet, so to speak.

“To ensure unhindered production and the attainment of this objective, the Board will request Bauchi State Government to do three things for the company: –

“That a standing instruction be passed to all Ministries, Parastatals and Local Governments to the effect that they should produce a two-page quarterly progress report on their achievements to be published on supplement basis by the two papers at a specially reduced rate.

“That all Ministries and Parastatals subscribe at least 15 copies each of the two papers weekly.

“Patronage of the commercial printing aspect of the Company.

“The benefit that the government will drive from this publicity arrangement is that the citizens of the state and beyond will be more aware of the government programmes since the publication will be the most authoritative and comprehensive document on the state and a viable publicity and reference material for the world to see.

“Finally, may I thank you for coming for the AGM, please be assured in the next AGM shareholders will be happy as it is possible that return of investment will begin to be realized,” he said.