The national leadership of the Peoples Democratic Party (PDP) has concluded arrangements to take bank loans and become a commercial entity.

The party's National Working Committee (NWC), chaired by Bamangar Tukur, hopes to raise short, medium and long term loans from financial institutions to fund party investments and programmes with minimum risk. The party plans to invest in various sectors of the economy; and the NWC is to establish a holding company which will help negotiate the interests of the party in all investments. The party's Peoples Democratic Institute will also be placed under a holding company.


These steps are part of recommendations presented to the NWC by the party's National Financial Secretary, Bolaji Anani.

"The establishment of the PDP Holding Company Ltd is to hold and negotiate the interests of the party in all investment and business arrangements," stated Anani. "The party will engage in merchandise commodity trading and cooperative activities, especially during festivals, and generate funds for the party and provide for the welfare of members."

Areas of investment listed out include real estate, oil, and telecoms. "The party can venture into the oil and telecommunication sectors through ‘friendly’ operators," he said. "With a high degree of anonymity, we can earn reasonable short and long term returns if the venture is properly structured. We should be able to get needed concession and operator’s licence with some measure of ease."

Source: Daily Times

Dats like a regulator also acting as an investor..double standard and unfair advantage if you ask me

fraud go kill the venture!.. what happened to Transcorp?

damola1: fraud go kill the venture!.. what happened to Transcorp?

Transcorp is picking up! Even d shares is improving

billante: Dats like a regulator also acting as an investor..double standard and unfair advantage if you ask me

I had long expected this sort of move from smaller parties but was surprised even the 'mighty' party was the one that made this move.

A Political Party needs to find avenues to generate money independently rather take taking out money from the Federal or State accounts to finance a political party as it is done in this part of the world.

But don't get surprised at this decision becase the party's current chairmen is one of the biggest and richest men in Nigeria.

Bamangar Tukur's business accumen spans way back in the 1950s. That man thinks, sleeps, and breaths business.

The problem is rathan than putting technocrats and professionals to run the business entity, they will politicize it again which will bring out thesudden death of the 'political company'

billante:

Transcorp is picking up! Even d shares is improving

How is it picking up? By adding a few kobos to its stock price?

Don't forget this people buy back shares to make the prices go up.

Transcorp is a walking corpse. They can't name one single operational business they have.

acidtalk:

How is it picking up? By adding a few kobos to its stock price?

Don't forget this people buy back shares to make the prices go up.

Transcorp is a walking corpse. They can't name one single operational business they have.

Dude dat kobo u are talking about is money! Like I said they are trying to pick up! By changing political appointments with technocrats! I think they just bought an oil block and is also investing big in agriculture! Not forgetting transcorp hotel

Good thoughts from the "nest of killers". Other political parties should start thinking like this. The more money you have, the more likely you are to get power since we still run money politics in Nigeria.