By Abuja Investment Company, Tamuno, Wike and the agenda of “Renewed Hope” of Tinubu

By Abuja Investment Company, Tamuno, Wike and the agenda of “Renewed Hope” of Tinubu

By Bolaji Afolabi

Founded in 1994 by the military administration of the deceased General Sani Abacha, the Abuja Investments Company Limited (AICL) is positioned as the investment company owned by the Government accused of the responsibility of guiding the economic development in the territory of the federal capital. Its main objective is to promote strategic investments and increase the realistic economic growth of FCT through different platforms and various approaches. The key functions of the AICL include business development; Investment and development; Public-private partnership; Management of structures; and development of infrastructure. The AICL has several branches and collaborators including Abuja Property Development Company, (APDC); Abuja Markets Management Limited, (Aml); Abuja Urban Mass Transport Company, (increase); Abuja Technology Village Free Zone; Abuja Film Village International Limited; PowerNoth/Aicl equipment leasing company. Others include ASO savings and PLC loans; Abuja Power Company Limited; Abuja leasing company; and Abuja Downtown Mall.

From 1994 until the military release from the National Governance in 1999, AICL recorded some results. During this period, the savings and loans were set up increased and ASO. With the dawn of the Democratic Government in 1999, the FCT, being an emerging federal capital, was expected, it will enormously draw the activities of the ICL. However, not much was obtained between 1999 and 2003 Under his watch, the Aicl was alive, recorded a certain visibility and attracted a positive public perception. Unfortunately, the AICL took a slide down from then on. None of the past ministers; Aliyu Modibbo Umar, Adamu Aliero, Bala Mohammed and Muhammed Musa Bello have provided the necessary political will and support for the ICL to reach full potential. In fact, it worsened between 2015 and May 2023 that many residents forgot that the company was still existing.

Many critical interested parties were worried about the depth of abandonment, static state and institutional damage to which the AICL was subjected. Modeling by similar agencies in some developing nations, in which measurable steps are obtained, the opposite occurred with the AICL, which has become a recurring causes of concerns and regrets for many people. Alhaji Aminu Mohammed, a former member of the FCTA staff, said: “It was shameful that the company remained largely inactive for many years”. Correbando, Gilbert Gyang, an investment expert based in Abuja, declared: “The AICL, especially during the last administration was probably in a coma. It simply existed on paper, there was no visible investment initiative oriented towards economic growth in the federal capital”. For Mrs. Winifred Anosike, former banker and development consultant, “it is painful that the company was practically inactive for years. Not only has it influenced economic growth in Abuja, but has had a negative impact on people and companies with initiatives guided by the results that wanted to actively contribute to the development of the capital.”

With the emergence and subsequent inauguration of President Bola Tinubu on May 29, 2023, the key actors of the investment sector hope that the AICL could breathe again. Many haveat their thoughts on the background of Tinubu and on the experiences in accounting, financing, investment, governance and leadership. Although with warnings; The choice of the FCT of the Minister of the WHO will be fundamental. Convinced that the AICL should be the “machine room” of the economic growth and the development of the capital, many hoped that Tinubu deployed the appropriate person to supervise the strategic ministry. Some interested parties have concluded that a wrong choice can deliver the AICL in the “wild nature of inactivity” and probable extinction. Somehow, the main actors in the investment sector, in different platforms and platforms have been optimistic that Tinubu will choose the right person, who hope that they open the way to allow the ICL to recover his Mojo.

In August 2023, the deployment of the lawyer Nyesom Ezenwo Wike as Minister of FCT; The eighth from the return of Nigeria to the Democratic Government has aroused public approval. Tinubu’s choice was largely celebrated by many interested parties, as it renewed optimism on the prospects of AICL that have revived its activities. Cognizant of the legendary waken results, as governor of the state of sparrows, where he undertaken a huge development of infrastructure and more, transforming the “treasure base” into the central investment center in the south of the south and emerging as second to the state of Lagos, many were confident that “the light will arrive” on the ICL. A similar series of enthusiasm and expectations was prevalent inside and around the ICL. Many staff members have also shared the positions.

The atmosphere in the District Offices of Gaki di Aicl on April 7, 2024 was enthusiastic when the news filtered in that Wike had appointed Dr. Maureen Tamuno as CEO of the group. A few hours later, he turned into frenzy after some Goggle members were carried out by some staff members to glimpse his profile. Impressed and satisfied with his multidisciplinary academic background and multifaceted careers, his appointment has been described as well weighted and very serious. The unanimity of the opinion was that, being a round pain in a round hole, the AICL will take advantage of its experiences and its exposures of large -reaching, ex -legislator, expert diplomat, public administrator and strategist of the Council room.

Aware and ready for the challenges to come, many staff members were visibly enthusiastic when Tamuno took the assignment the following day. Thus emerging as the first CEO of the ICL, since its 30 years of existence. Described as a skilled technocrats with identifiable results in leadership, strategy, diplomacy, administration and advice, Tamuno, in his inaugural speech confirmed the postulations of staff members. He stressed to her: “Commitment to politics open for all staff, exhorting everyone to operate according to the highest level of transparency, confidentiality, responsibilities and ethical commercial practices”. Continuing, he assured the staff members that his “strategic approach and philosophy focused on consumption will push the AICL to new successful heights”.

From the relationships, challenged by the enormousness of the task in sight, aware of the extremely unsuccessful potential of the AICL, supported by the political support of Wike and encouraged by the passion of staff members, Tamuno literally hit the ground. As a development, management and professional of commercial investments recognized globally, he approached his assignment with iron resolution and the precision of a surgeon. First of all, he embarked on critical reviews and panoramic AICL trajectory from the beginning; Identified germ problems; Evolved strategies for the repositioning of the company; Quickly won, short -term measures, medium term and long -term for development and some others. All of these were oriented to deliver (or overcome) the ministerial mandate and also guarantee that the AICL contributes to its share to the “renewed hope” agenda of Tinubu.

In fact, it is essential to note that the AICL, under the superintendent of Tamuno, literally pulled out water from the rocks; which was previously largely unthinkable. That the Amazon of soft and enterprising blade; And his team was able to have an evident impact within one year, he speaks of volumes on his ingenuity and the indomitable spirit. In a broad sense, these results include encouraging economic diversification; expand investment opportunities; explore exchanges of activities and investments; deepening of the collaboration of the branches; and promote diplomatic relationships

In practical terms, the AICL, through some reference initiatives, provided the platform for the promotion of trade and trade, as well as economic growth and sustainable investments in the FCT. It is essential to remember some of these praised and burning projects. A few days ago, the solar energy farmers market in the Utako district and the international market of Kugbo were commissioned by the Minister of State of the FCT, Dr. Mariya Mahmud. Speaking at the time that makes events, Mahmud eliminated Tamuno for completing the such projects that, “would offer job opportunities for a wide range of people in line with the” renewed hope “. By explaining that the projects are under the initiative of Public Private Partnership of the AICL, Tamuno has promised that” based on the build operated and transfer (BOT), the Government will combine with the private sector to create public work to create a public work sector profitable and sustainable. To underline Aicl’s commitment to the informal sector, the shops have been equipped to some work traders by all sixths of the FCT area.

In October 2024, the AICL organized a two -day business and investment summit with the topic: “Investment optimization through the partnership”. The event, oriented to the promotion of investment opportunities in the FCT, participated in the main stakeholders in finance, investments, manufacturing and other sectors. Participants have opened new alliances, partnerships and collaborations for new opportunities and innovations that will lead to the development of micro and macro. Tamuno, who by the way was the ambassador of Nigeria to Jamaica, exploits his diplomatic credentials and the net to reposition the AICL. He is regularly engaging and explores investment opportunities with foreign countries through their diplomats in Nigeria. Through his participation in the Maiden Nigeria-Kazakistan Conference that was held in Abuja, in 2024, there are advanced plans for the establishment of flights from city to city between the two countries, as well as collaborations in agriculture, education, technology, logistics and more.

Agreed, the journey is somehow far away, but the AICL, based on the new CEO, has shown an unbridled commitment and an inflexible fervor in raising the status and relevance of the company towards the generation of meanings growth and development of the FCT. Tamuno showed an implacable push and boundless energy to justify the trust placed in her by Wike. The publication of an encouraging relationship in a year deserves praise and encouragement. Mr. Olugbenga Okanlawon, an Abuja public affairs analyst, said “has shown that he is the right person for work. Considering what Aicl has achieved in a year, it is clear that more reasons will be covered in terms of growth and development”. A frequent caller for the AICL who preferred anonymity said: “The GMD brought a new life contract to the place and everyone absorbed his can-be spirit with a lot of pride and conviction”.

Bolaji Afolabi, a communications specialist for development, was at the public affairs office, the presidency, and writes from Abuja.