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."
I specialize in investigative reportage across several subject matter and sectors but mainly focus on metro events and investigation. Do leave your thoughts and opinion on my reports to let me know what you think about them. Thank you
Posted: at 17-06-2012 08:42 PM (12 years ago) | Addicted Hero
interpo77 at 17-06-2012 09:38 PM (12 years ago) (m)
IT IS A GUUD IDEA IF ONLY THEY WILL DO IT WITHOUT PUBLIC FUND, ATLEAST THEY CAN OFFER JOB OPPORTUNITIES TO THE YOUTHS,BUT PLS THEIR ACTIVITIES MUST BE MADE TRANSPARENT
Posted: at 17-06-2012 09:38 PM (12 years ago) | Gistmaniac
Am not a Politician to i commend the new leadership of PDP for that initiative. As an entity it's a good thing for them go into commercial ventures because it can boost the economy of the nation and also create job opportunities...... but they don't have capitalize on that to steal public fund.
Posted: at 18-06-2012 04:46 AM (12 years ago) | Newbie
starlove1 at 18-06-2012 09:49 AM (12 years ago) (f)
Good luck your country is dividing and you are here planing to invest with the money that you will use to create more jobs for your people God will see you all.... i know you are doing all this because you know that you will not be the leader of Nigeriaagain
Posted: at 18-06-2012 09:49 AM (12 years ago) | Upcoming
imagine how ppl are being taken 4 ride yet the theives are being celebrated, naija shaaaa. well, since they're d ruling party, naija will soon be commercialized too including all of una.
Posted: at 18-06-2012 10:19 AM (12 years ago) | Upcoming
yvonneobas at 18-06-2012 11:29 AM (12 years ago) (f)
Na dis one b 9ja problem or one solve am?? dis na oder venue 2 tak steal frm d national money again., pple dy die,d country dy divide dy go still notin s bin done 2 resolve d issues at hand.,, D govts nd prido dy dere cos d problems no dy ever effect dem nd dere families so dm no dy border at al. WAT A PITY ND SHAME!
Posted: at 18-06-2012 11:29 AM (12 years ago) | Gistmaniac
steveoneal at 18-06-2012 12:03 PM (12 years ago) (m)
ANOTHER METHOD DEVISED TO STEAL AND LOOT THE COUNTRY S MONEY;;;; NAIJAAAAA; I HAIL OOOO;;; NA EVERYDAY THE WITCH DEY GIVE BIRTH TO FEMALE BABIES;;; THE THING CON DEY MULTIPLY AGGRESSIVELY;
Posted: at 18-06-2012 12:03 PM (12 years ago) | Gistmaniac
adewoye1 at 18-06-2012 12:54 PM (12 years ago) (m)
Planning 2 build a cartel of Corruption Incorporation nd using the clout of 'party in power' to dictate 2 any bank, company or ministry. It's a shame how corruption is burgeoning under GEJ government - woe unto u.
Posted: at 18-06-2012 12:54 PM (12 years ago) | Upcoming
TRENDING GISTS 
UK Police Recover Body Of 16Yr Old British-Nigerian Boy Who Drowned In A Lake
PHOTOS: Young Woman Brutally Murdered By Suspected Ritualists, Priv@te Part Removed In Ogun
Lovely Video Of Singer Davido And His Wife, Chioma Vibing To His Song
Woman Slams Her Husband For Allegedly Having Unprotected S3x With Random Girls After Publicly Apologizing To Her
Actress, Laide Bakare Crowned UN Ambassador Of Peace
Actress, Uche Montana Celebrates Birthday With New Stunning Photos
VIDEO: President Tinubu Conferred With a Chieftaincy Title in Anambra State
Passengers Killed, Vehicles Set Ablaze As Gunmen Attack Commercial Bus in Imo