Date: 2012-05-17

The Kwara State Government has incorporated Harmony Holdings Company with 21 subsidiaries and a projected One billion Naira share capital base as part of the drive to enhance economic activities in the State. The State Attorney General and Commissioner for Justice, Barrister Kamaldeen Ajibade announced this at a Press Briefing in Ilorin after the weekly State Executive Council meeting.

Barrister Ajibade explained that the Harmony Holdings Company will ensure fiscal and operational efficiency of the subsidiaries as they cut across all facets, including hospitality, transportation, Agriculture, Sports and Aviation.

The subsidiaries include Kwara Investment and Property Development Company Limited, Kwara Mall Development Company Limited, Harmony Transport Services Limited, Kwara State Waste Management Company Limited and Kwara State Football Academy Limited.

Others are Ministry of Finance Incorporated, Harmony Securities Limited, Kwara Insurance Brokers Limited, Midway Minerals Development Company Limited, Kwara Ethnix Designs Limited and Kwara Hotels Limited.

Also included are Satellite Motel Limited, Patigi Regatta Motel Limited, Shonga Farms Holdings Nigeria Limited, Kwara Advanced Diagnostic Centre Limited, Ilorin Cargo Terminal Company Limited, Kwara Paper Converters Limited, Erin-Ile, Kwara Cashew Nuts Processing Company Limited and Kwara Tourism Kitchen Company Limited.

The Attorney General added that some of the companies are fully state owned while it has different degrees of equity in others.

Barrister Ajibade also said that the new Holding Company would ensure that the subsidiaries are properly run to boost the internally generated revenue of the State.

To give the Harmony Holding Company further legal footing, the Commissioner said the State House of Assembly would be briefed for necessary legislative action.

17/05/201