Bauchi publishing firm to inject N1b to revive publishing of newspapers
By Ahmed Ahmed
The Board of Directors of the Bauchi Publishing and Printing Company (BPPC) has unveiled plans to relaunch its flagship newspapers, Trumpeter and Kakaki, with N1 billion which have been off the stands since 2005.
Mr Usman Shehu, Chairman of the Board and State Commissioner for Information, disclosed the development while briefing journalists at the end of its 5th Annual General Meeting (AGM) on Thursday in Bauchi.
He announced that the management is negotiating a ₦1 billion loan with a low interest rate of 9 percent to procure modern digital printing equipment aimed at boosting production quality and attracting premium clients nationwide.
Usman said BPPC plans to raise its share capital from ₦30 million to ₦250 million to attract fresh investments.
He assured shareholders of the company’s viability, despite past setbacks that saw the firm closed since 2005, leading four major shareholders to divest stakes worth ₦10 million.
He expressed regret to longstanding investors for years without returns, pledging a turnaround that will yield profits soon.
Usman emphasised that the newspapers will play a vital role in bridging communication gaps between government and citizens, promoting state development efforts, and projecting Bauchi’s image to the world.
The Board plans to request the state government to mandate all ministries and local councils to produce quarterly progress reports for publication, subscribe to copies weekly, and patronize BPPC’s commercial printing services.
The Chairman assured stakeholders that by the next AGM, they should expect returns on their investments as the company regains stability and profitability,,” She said
