The Yobe Government on Friday said it had sold its hotel in Gashua to ONY Architects Ltd, Abuja at the cost of N80 million.
The government said that the move was part of efforts to woo investors to the state.
Alhaji Barma Shettima, the state Commissioner for Commerce, Industry and Tourism, disclosed this in an interview with the News Agency of Nigeria (NAN) in Damaturu.
He said the company approached the state government with the intent to take over the state-owned hotel and develop it into a hotel and resort.
“After following all due processes, government considered the offer and signed a takeover agreement with the representative of ONY Architects Ltd, Mr. Samaila Birma-Ali, on July 7.
“Under the agreement, the company will not use the facility for anything other than a hotel and resort,” the commissioner said.
Shettima disclosed that the company paid N80 million for the hotel which had been shut down for long and in dilapidated condition.
According to him, the investments will impact positively on the state and its people.
“The place has not been in use for so long; it is dilapidated and not habitable.
“We believe that the takeover will boost our revenue profile, create jobs for our youths and enhance tourism and hospitality in the area.
“We will continue to attract investors, both home and abroad, to acquire and add value to similar facilities in the state for the overall benefit of our people,” he said.(NAN)