Reps applaud Wike, Tamuno, over AICL’s improved revenue, infrastructure
Members of the House of Representatives’ Committee on FCT, led by Hon. Aliyu Muktar Betara, have applauded the Minister of Federal Capital Territory (FCT), Mr Nyesom Wike, over ongoing infrastructural development projects across the nation’s capital city.
The lawmakers who spoke during an interactive session with the Group Managing Director of Abuja Investment Company Limited (AICL), Dr. Maureen Tamuno, also applauded her ingenuity in improving 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 manages the district markets not the entire markets across the territory.
According to her, Wuse Market is owned 90 per cent by the individuals who bought the shops, while AICL owns 10 per cent.
“For example, Wuse Market is owned 90 per cent by the traders, we own 10 per cent. 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 charges like other privately owned markets across the territory, noting that the charges adopted by AICL are controlled by the government.
She added that the company is also blocking some of the leakages such as digitising fares collection which was initially collected manually.
This, according to her, would help to tackle the menace of revenue leakages and help to pay dividends to FCTA coffers.
“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 control over what Abuja Property does suffice me to say. But with the incoming of the new Minister he has streamlined 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 them of, 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 repair some of them to 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 heard that 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 it 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 stimulating the economy and creating employment.
She noted that the company which was established over 30 years ago has metamorphosed to become an Holding Company as an investment arm of FCT and a Limited Liability Company, hence not in the Federal Government budget.
According to her, previous administrations set up other subsidiaries that were supposed 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 per cent equity, and 6 per cent with Abuja Intercontinental Hotel formerly known as Sheraton Hotel.
She, however, noted that during the meeting held with the hotel’s management, the hotel has recapitalized and gone public, thereby AICL holding has reduced to three per cent.
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 regularising 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 capacity building and to drive them to ensuring that dividends are given to the owners, the 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 so 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.”
She thanked the lawmakers for the support and trust reposed in her team.
Speaking after the AICL Group Managing Director’s presentation, Hon. Betara said: “Now, I realize why the Minister of FCT is bringing in new hands into FCT. Before you came on board, many people felt disappointed the way the place was run. We know you, within the short time you came in, revenue has gone up and we hope you will keep it up.
“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 Tamuno said: “I met her when she was an Ambassador to Jamaica. I think in the whole of the 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 sectors 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 the demonstration of gender sensitivity, inclusivity and friendliness in appointing a lady, a woman and 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 much is given, much is expected.”
Also speaking, Hon. Regina Akume (APC-Benue) said: “Madam, I want to thank you for your dedication and commitment. And I want advise you all, that as long as you do not take government business seriously, you cannot even take your own business seriously because what a man sows he reaps.
“So, please government is for all of us. I know women are good managers, yes we women are good managers. So put all the broken pieces together and make us proud. That’s what I’m asking of you because there’s so much that you can do.”
The committee members showered encomium on Tamuno and her team, urging them not to relent.
