Kwara State House of Assembly has expressed dissatisfaction over the operations of the State owned Harmony Holdings since its inception, which it accused of operating in shrouded secrecy.‎
The Speaker, Dr. Ali Ahmad made the allegation in Ilorin during the 2016 Ministerial Budget Defence of Harmony Holdings before the House Committee on Finance and Appropriation.
He said the “Holdings was incorporated by the State Government as a company to ensure efficient running of all the state owned ventures to improve the internally generated revenue, IGR of the state. From 2016, the legislature would no longer appropriate any public fund to the Holdings.”
Dr. Ahmad further explained that the 8th Legislature under his watch, would continue to be people-oriented in its legislative duties and enjoined the hierarchy of the company to be innovative in its operations to enable Harmony Holdings properly harness the economic potentials of the state.
The Speaker also noted with displeasure that the state government had invested seriously in Harmony Holdings, stressing that the company was not generating enough IGR to justify the government’s colossal investment in it
Ahmad who counselled the management of the company on how to expand its capital base, disclosed that the House of Assembly would continue to interact with the management of the firm for accountability and improved performance to justify its existence.
He equally assured that the House of Assembly would continue to create enabling environment for effective service delivery by the company.
This, he said: “would be achieved by addressing issues hampering its effective operation, noting that. Harmony Holdings has the capability to surpass the performance of Odu’a investments in the South West and become an international outfit, if the management according to him was innovative, efficient and transparent in running the affairs of the Limited liability company.”
He therefore directed the Group Managing Director of the company, Mr. Tope Daramola, to produce credible information on release of funds to it, from 2013 to date, to further assist the legislators in the performance of their legislative duties.
Earlier, the Group Managing Director of Harmony Holdings, Mr. Daramola who had enumerated the activities and challenges confronting the company said the state government owns 100 percent shares in the company.
He further disclosed that the company has not taken full control of the state owned International Aviation College and Advanced Diagnostic Centre, thereby hampering its revenue generation to the coffers of the state government.

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