KIIC unveils poverty alleviation plans

Odidison Omankhanlen, Lagos

An offshore oil platform in the Atlantic Ocean

A modern private sector investment company, Kajola Integrated Investment Company Limited has concluded plans to respond to the opportunities in the various sectors of the economy with a view to creating wealth and reducing the level of poverty of the people.

Addressing newsmen in Lagos, the company’s chairman, Professor Wale Omole, observed that the gap between the abundant resources in the country and the various states against the level of poverty could not be defended, hence the decision of his organisation to intervene through various instruments.

Omole explained that Kajola, which means commonwealth, was one of the products of the Economic Summit that took place in Osun State in 2005, stressing that it was purely formed by various experts and professionals without government input. “Our company, Kajola Investment, means commonwealth. It is formed for the concern of the people. It will serve as a vehicle to create wealth and eliminate poverty from the land. We observed that the level of poverty in the midst of abundant resources in the country cannot be defended. We are set to address this issue through various instruments. And I must state here that there is no government interests,” he said. He said the company which had commenced business with initial take off capital of N100 million, would later embark on private placement to raise the capital to about N2.5 billion, stressing that they would tap into the opportunities in “ agriculture and agro-allied business, financial services that includes an effective micro finance institution that will touch the lives of small and scale operators within the shortest possible time, leisure and tourism, real estate, mining, oil and gas, among others.”

Omole, a former Vice Chancellor of Obafemi Awolowo University, Ile-Ife, Osun State, explained that arrangements had been concluded to establish a microfinance bank in the state, while hotels would be built in Lagos, Abuja and Port-Harcourt, adding that food commodity trading would be sited within four hours drive location to prevent spoilage and wastages. “This is a global company and we will do business allover the country. For a start, we have concluded plans to establish a microfinance bank in Osun State, mortgage financing aimed at targeting both Nigerians at home and in the Diaspora, build hotels in Abuja, PortHarcourt and Abuja and also the food commodity market is essentially to create wealth for the local farmers. They will be sited close to where the produce is,” he stated.

The company which will be formally presented to the public on Thursday has credible and tested technocrats who have made indelible marks in business and academics as board members.

Imo Council seat: Egypt may vote for Nigeria

Dele Aderibigbe, Lagos

The North African maritime giant, Egypt, may have thrown its weight behind Nigeria ’s bid for the International Maritime Organisation’s (IMO) Council seat. The Director, Candidature Unit of Egypt ’s Ministry of Foreign Affairs, Counsellor Naglaa El Zawahri, specifically told the Nigerian delegation to Cairo on Monday, last week, that her country would vote for Nigeria at the IMO Council election billed to hold within the next few days.

“There has always been collaboration between Nigeria and Egypt. In this regard, there has been cooperation between Nigeria and Egypt since May concerning this issue. So I don’t see any problem with that. It is really our pleasure to support Nigeria,” she said.

She lauded the growing influence of Nigeria in the international scene, remarking that her country would only be too happy to support the country in furtherance of such dreams, and she called attention to the need for synergy between her country and Nigeria.

Leader of the Nigeria delegation that visited Egypt, Captain Adamu Bui, had earlier reminded the Egyptians that Nigeria had a long standing mutual relationship with Egypt and which should be enhanced.

Captain Bui, who is also the Chief Executive Officer of the Nigerian Shippers’ Council, also assured that Nigeria would back Egypt to represent North Africa on the IMO Council.

“Traditionally, Egypt and our country have been collaborating in several ways such that we have had Egyptian pilots for several years in our country. The collaboration between these two countries has been in existence for a very long time. What we are trying to do is to enhance it.

“The benefits of such collaboration for us as individual countries and for the African continent cannot be over emphasised,” he stated further.

Other countries who have thrown their weight behind Nigeria in its realisation of securing the IMO Council seat include Ghana , Benin Republic and South Africa.

Members of the Nigerian delegation to Egypt included Mallam Abdulsalam Mohammed, Managing Director, Nigerian Ports Authority (western Ports), Mrs Toluwase, Assistant Director, Maritime Services, Federal Ministry of Transportation, Mrs Juliana Gunwa of Nigerian Maritime Administration and Safety Agency (NIMASA), Captain Iheanacho Ebubuegu of Nigerian Ports Authority and Mr. Bolaji Akinola of Ships & Ports .