Following the glaring infrastructural development projects in the Federal Capital Territory, members of the House of Representatives’ Committee on FCT, led by Hon. Aliyu Muktar Betara has applauded the Minister of Federal Capital Territory (FCT), Nyesom Wike, urging him to keep up the good work.
The lawmakers who spoke during an interactive session with the Group Managing Director of Abuja Investment Company Limited (AICL), Dr. Moreen Tamuno applauded her ingenuity towards improved revenue generation since her assumption of office.
While presenting her scorecard and strategy adopted in the turnaround of Abuja Investment Company Limited to the Committee, Dr. Tamuno disclosed that AICL only manage the District markets not the entire markets across the territory.
According to her, Wuse markets is owned 90 percent by the individuals who bought the shops while AICL owns 10 percent.
“For example, Wuse market is owned 90 percent by the owners, we own 10 percent. What Abuja Management does for Wuse market is to manage the facility there through the toll taking which they do collect on our behalf and then they manage the facilities, they manage the refuse collections and they also work with the market association.”
She noted that AICL cannot increase prices like other privately owned markets across the territory, noting that the prices adopted by AICL are controlled by the government.
She added that the Company is also managing part of the leakages envisaged such as monitoring these system of fares collection which was initially collected manually.
This, according to her, will help to tackle the menace of revenue leakages and help to pay dividends to FCTA coffers.
While responding to question on Abuja Properties, she noted that AICL is saddled with the responsibility of owning properties on behalf of
“Before I got here, apart from two regimes of el-Rufai and Moddibo, the rest regimes, Abuja Property was dealing directly with the Minister. So, we did not have a control over what Abuja Property does suffice me to say. But with the incoming of the new Minister he has streamline the system that all of these people will have direct reporting line.
“So, what they do or what they are meant to do is to manage estates, different cadres of estates for the Middle Class, for the High Class and and different kind of people and also declare profits and pay dividends also which has never been done. But in the last discussion last month, because of the new process that has been set up, they are committed to making sure that they will do this year, to declare dividend to AICL.”
On Abuja Transport scheme, she noted that “the Abuja AMMCO has been a little epileptic really. Because as we speak I think they have only about 84 buses and then most of the buses are not working. Before I came, I heard they are meant to sell but on our finding, we found out that the calibre of buses we have ASHOK were very strong bus and there was no need to sell, we would see how we could use some of them to repair others and have them running.
“So, they’ve not been able to break even, there are some epileptic problems that we are looking at to see how we can help them.”
On the Abuja Films Village, she said: “we heard the story of Abuja Film Village, even before I became the Group Managing Director, but suffice me to say that for 24 years nobody went to see where is this place. But when I assumed office all I was hearing is don’t go there they kidnap and all of that. But we were able to weather the storm to get to the point in Guzaki. We have about 3,000 hectares of land there, which is being encumbered already, we have mining is taking place there. We are working with FCT fortunately I did a memo to the Minister which he has approved graciously and set up an Inter-Ministerial Committee to know where our boundaries are. I saw miners on the plot he was really a tough place to go to.”
She explained that the Committee is expected to come up with the report to secure the parameters around the land and see what AICL could achieve there.
While noting that the entertainment industry is a thriving Sector, she explained that AICL has met some Stakeholders including Actors Guild who are already partnering with the company, with a view to stimulate the economy and create employment.
She noted that the company which was established over 30 years ago has metamorphosed to become an Holding Company is an investment arm of FCT and a Limited Liability Company, hence not in the Federal Government budget.
According to her, the two administrations ago set up other subsidiaries that suppose to work under AICL namely Power Launch which is a Leasing Company and Abuja Urban Mass Transit Company, Abuja Property Development and Abuna Market.
She added that AICL also has other subsidiaries namely Aso Savings, Abuja Tech Village where AICL owns 20 percent equity, and 6 percent with Abuja Intercontinental Hotel formerly known as Sheraton Hotel. She however noted that during the meeting held with the Hotel’s management, that the Hotel has recapitalized and gone PLC, thereby AICL share has reduced to 3 percent.
While noting that AICL is still in talk with Abuja Intercontinental Hotel since 3 percent is not sufficient to be on the board of the Hotel because it’s a nominal shareholder and could only go to General Meeting, efforts are ongoing to improve the system with a view to regularize the percentages of investment.
She noted that efforts are also being made to ensure that the company’s staff are well motivated by embarking on a lot of capacity building and to drive them to ensuring that we return dividends to owners which is FCT.
Dr. Tamuno who assured that the present AICL under her watch cannot afford to “leave FCT the way it was,” disclosed that her team has developed a “revolution in AICL. If you’ve ever been to the office before my resumption and you come now, from the gate you would know that there’s a change.
“We definitely are building bridges, we definitely are looking at how to reposition AICL and making progress. We’ve not had it good, thank God for the responsive Minister who listens and who’s ready to work to recapitalize. We have the muscle to weather what we are faced with.”
While thanking the lawmakers for the support and trust reposed in her team, Dr. Tamuno said: “Thank you Mr. Chairman for this opportunity to be able to tell you what Abuja Investment is all about but I want to reassure you that as your Junior Colleague, you can be sure that coupled with the fact that women want to do what we have to do, so we can sleep well. I will be able to do the needful and make cintei to FCT and of course to the renewed hope agenda of Mr. President, that I will do.”
Speaking after the AICL Group Managing Director’s presentation, Hon. Betara said: “As discussed with the Committee, you see a lot of members not you, before coming into Abuja Investment, but for us with the discussion we did to your previous team I told you, I was disappointed. Now I realize why the Minister of FCT is bringing in new hands into FCT.
“We know you, with the little time you came in, revenue has come up and we hope you’re not coming down.
“And I will advise you anybody that you’re not ready to work with, remove the person so that you can work well. The Committee is ready to support you and support FCT in general.”
On his part, Hon. Timilehin Adelegbe (APC-Ondo) who showered encomium on the new AICL management team led by Mrs. Tamuno said: “I met her when she was an Ambassador to Jamaica. I think in the whole Pacific she transformed Jamaica she’s very aggressive.
“So, when she was reeling out her achievements I think we have just seen little. What we need as a House is to encourage her and also urge her to do a holistic audit of staff who may be dragging you back which is very very important.”
On his part, Hon. Kanice More (APC-Imo), who applauded President Bola Tinubu for being gender sensitive in the appointment of women into critical sector of the economy, underscored the need to encourage the AICL Group Managing Director to achieve more fears.
He said: “I thank His Excellency Bola Ahmed Tinubu for demonstration of gender sensitivity, inclusivity and friendliness in appointing a Lady, a Woman ans she has demonstrated capacity. I took time to study her, and I’ve listened to her, she started newly we should equally encourage her and I strongly believe that with more encouragement she will do more; and of course, to whom more is given, more is expected.”
Also speaking, Hon. Regina Akume (APC-Benue) said: “Madam, I want to thank you, before I’m seeing a spirit of its not my problem and it’s not my business, it’s government’s business, it’s not my business, that’s the spirit I’m seeing in here.
“And I want advise you all, that as long as you do not take property seriously, you cannot even make your own business because what a man sows he reaps.
“So, please government is for all of us. If you’re put there to do something, I know women are good managers, yes we women are good managers. So put all the broken pieces out them together and make us proud. That’s what I’m asking of you because there’s so much there that you can do. There’s so much laxity and it’s not right. The Chairman has said it, he net with you all, he will support them. But you must make him proud.”
While applauding the achievements recorded so far under the leadership of the FCT Minister, Hon. Betara said: “You have a Minister that’s a Lawyer, maybe that’s why you guys have improved.
“You guys need to improve. He doesn’t tolerate and if it is with law, he knows everything. So, for the Committee, if there’s anything we will require from you before we start the oversight, we are going to write you.”
