Balewa University establishes new firms to boost IGR

AS part of efforts to boost internally generated revenue in the institution, Abubakar Tafawa Balewa University (ATBU), Bauchi State, has revamped the moribund ATBU Trust Investment Company, with the establishment of new business outfits.

The newly established outfits include a community micro-finance bank, a hotel, a bottle water manufacturing factory and a printing press.

Vice chancellor of the university, Professor Abdulrahman Ibrahim, who disclosed this to newsmen ‎in Bauchi, said the steps were taken to augment overhead allocations.

He said, “We have revamped our moribund ATBU Trust and Investment Company through the establishment of the four revenue sources in the Institutions.”

Also speaking, the General Manager, ATBU Trust and Investment Limited (ATIL)‎, Auwal Bala Aminu, said the establishment of the business outfits were to generate more funds for the institution to use in boosting the financial strength of the University
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He said that the bank was established by ATIL as part of development and expansion plans undertaken by the university’s management in order to reposition the institution, in line with the changing times and challenges.
Aminu, who said that the bank has already started operations with attractive products and services for prospective customers, added that it commenced operations with a share capital of N32 million.

He also added that the hotel, which is nearing completion has so far gulped about N155m on the Construction, adding that the printing press and the bottle water factory were already working and generating revenue for the institutions