Ekiti State Governor, Mr. Biodun Oyebanji, has inaugurated the Boards of Fountain Holdings Ltd (FHL) and Ekiti Development and Investment Promotion Agency (EKDIPA) in a bid to reposition the state’s investment agencies.
The inauguration, which took place at the Exco Chambers, Governor’s Office in Ado-Ekiti on Monday, January 22, 2024, saw the appointment of professionals with proven track record in investment and business management to help revitalize the state-owned companies.
In his address, Governor Oyebanji highlighted the importance of repositioning the investment agencies to accelerate the journey towards his administration’s shared prosperity agenda.
He praised the previous management for their efforts in turning around the moribund companies under their mandate and emphasized the need for the new boards to further build on this progress.
The governor expressed his ultimate dream of seeing Fountain Holdings become a major player in both the Ekiti business arena and Nigeria’s investment ecosystem.
He emphasized the critical role of the Holdings in the state’s job and wealth creation mandate, stating that increased business operations would lead to direct returns in profits, taxes, and opportunities for job creation and economic growth.
The Ekiti state helmsman charged the new chairman of the board, Mr. Jide Ogundare, and the entire team to ensure that Fountain Holdings becomes a major source of profitable and taxable income for the state.
He also urged the Holdings to expand its current portfolio, invest in businesses that address the needs of the people, and promote economic empowerment in line with the local content agenda.
The governor equally stressed the importance of synergy between Fountain Holdings Ltd and the Ekiti Development and Investment Promotion Agency, as both agencies share the common goal of promoting business opportunities for the benefit of the people of Ekiti.
Oyebanji highlighted the need for EKDIPA to be more strategic and ambitious in attracting foreign and local direct investment to the state.
The governor expressed gratitude to the members of the newly inaugurated board for accepting to serve the state, assuring them of his support.
Responding on behalf of others, the reappointed Chairman of the Fountain Holdings, Mr Jide Ogundare assured the people of the state that they would serve with all their capacities in changing the business narrative of the state.
