By Yahaya Idris, Lokoja.
Kogi Investment And Properties Limited (KIPL), the One-Stop Shop for Investment initiation and registry, wholly owned by the Kogi State Government, established by the COMPANY AND ALLIED MATTER ACT (CAMA) and regulated by it’s Memorandum of Association and Articles of Association (MEMAT) registered with Corporate Affairs Commission (CAC).
Hajiya Aisha Suleiman is the Managing Director and Chief Executive Officer, Kogi Investment and Properties Limited, (KIPL). She has in different ways demonstrated capability to transform the Investment house to better status.
Under her watch, KIPL have witnessed positive changes and huge success in the areas of robust administration, attract investors (both local and Foreign), positive innovations to mention but a few.
For optimal performance, she engaged competent hands and reform the administrative structure of KIPL to reflect a Limited Liability Company. By this move, KIPL own and pay her staff salaries.
In the light of the developmental agenda of the present administration of His Excellency Alhaji Yahaya Adoza Bello, the Executive Governor of Kogi State, the Company was granted autonomy; this resulted in the Governor’s approval to remove the Company from the State‘s Treasury Single Account (TSA) and recapitalize it with some of the State Assets worth over N2Billion.
There was an accumulated unpaid statutory fees (billed over N200,000 Million from 2011) at Federal Inland Revenue Service (FIRS). At the Corporate Affairs Commission (CAC), KIPL was almost delisted because over time, the Company profile was not updated.
Similarly, the office building has been renovated to create a conducive environment for staff and attract/gain the confidence of Investors; and there has been tremendous improvement in the internal operations.
In her dedication to duty, She retrieved some landed properties of the State in private hands (with their documents), regularize and entrusted them with capable agents for proper management. In addition, some properties whose ownership were claimed by individuals were retrieved through legal actions.
There were State properties without proper documentation and security, these properties were regularized and their security ensured for development.
In another phase, Kogi Investment Properties Limited rolled out plans to build hostels in some selected tertiary institutions across the 36 States of the Country including FCT. So far, it has acquired some plots of land at Ahmadu Bello University Zaria (Samaru Campus) and effort is on-going to acquire land in the Federal Capital Territory, Abuja.
However, with the little resources available through Internally Generated Revenue, there has been investment in property development (shopping plaza, Lokongoma Phase 2 Lokoja). Again, there has been investment in transportation for inter-state businesses.
The MD, KIPL sourced for investors and revive the Confluence Fertilizer Company along Ayingba road. They are at the moment testing production; hopefully, before the end of the year 2022, full operations will commence.
All these journeys so far, were not without challenges, bedeviling the progress.
Paucity of funds have derailed the success of some of her intended projects/programs.
The MD, KIPL Hajiya Aishat Suleiman says it was part of her program to boast revenue generation through the application of the digital economy and compete vigorously with principles in the contemporary economic hurdles going forward, particularly as the drive for State IGR takes a toll.
For an economy to thrive and perform better, there is always the need to inject enough capital and create stimuli.
Just like every other sister state Investment Houses, KIPL is the business representative and Investment arm of Kogi State, the One-Stop Shop investors initiate and register there Businesses with the State Government.
She also pray that her office; KIPL is improved to a befitting edifice like other sister Investment Houses and including but not limited to official mobility.