OrderPaperToday – Kwara State House of Assembly has disclosed that due to their dissatisfaction with the operations of the state-owned Harmony Holdings since its inception in 2013, public funds will no longer be appropriated to it this year, adding that it’s activities should not be secret.
Speaker of the House Ali Ahmad stated this in Ilorin during the 2016 Ministerial Budget Defence of Harmony Holdings before the House Committee on Finance and Appropriation.
He said Harmony Holdings is a company incorporated by the Kwara State Government to ensure efficient running of all the state-owned ventures and improve the Internally Generated Revenue (IGR) of the State Government; and so it’s activities should not be immersed in secrecy.
Ahmad explained that the 8th Legislature under his watch would continue to be people-oriented in its legislative duties and “enjoined the hierarchy of the Holdings to be innovative in its operations to enable company properly harness the economic potentials of the State”.
According to him, “the Holdings is not generating IGR to justify the government’s colossal investment in the limited liability Company”, despite the huge funds invested into it.
The Speaker also directed the Holdings’ Group Managing Director Mr. Tope Daramola “to produce credible information on release of funds to it from 2013 to date by the State Government.”
At the session, Daramola enumerated the activities and challenges confronting the Holdings and maintained that the State government, not any individual owns all the shares of the Company.


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