Abuja Investments Company
 | |
| Company type | Holding Company (Government owned) |
|---|---|
| Industry | Economic development |
| Founded | 1994 |
| Headquarters | , |
Key people | Abubakar S. Maina, GMD/CEO |
| Services | Diversified Investments |
| Revenue |  US$ (2009) |
| (2009) | |
| Total assets | (2009) |
| Total equity | (2009) |
Number of employees | 58 (2010) |
| Parent | Federal Capital Territory Administration |
| Subsidiaries | 7 Active |
| Website | abujainvestments |
Abuja Investments Company Limited (AICL) is a Nigerian development and investment company for the Federal Capital Territory Administration (FCTA), based in the city of Abuja. It provides investments for economic development for the Federal Capital Territory region in Nigeria.
History
AICL was incorporated in 1994 as Abuja Investment and Property Development Company (AIPDC).
The firm has undergone a number of restructuring processes and functions as an interface between the government and investors interested in operating within the Federal Capital Territory.
AICL was created and is wholly owned by the Federal Capital Territory Administration (FCTA) with the vision to build capacity in public private partnership administration and asset management for sustained development. AICL was conceived to be a publicly owned yet privately funded Limited Liability Company to act as the FCT's Holding Company. As of 2009[update], it had over $100M under management AICL and had grown to become an investment firm with a diversified portfolio to include investments in transportation, technology and real estate.
| Year | Achievements |
|---|---|
| 1993 | Commenced Operations under the FCT as Abuja Investment & Finance Company Limited |
| 1994 | Incorporated and Change of Name effected to Abuja Property & Development Company |
| 1995 | Established Subsidiary Aso Savings & Loans Limited |
| 1995 | Established Subsidiary Aso Property & Investment Management Limited |
| 2004 | Established Subsidiaries Abuja Leasing Company Ltd and Abuja Markets Management Limited |
| 2005 | Assumed management of Abuja Urban Mass Transport Company Limited |
| 2006 | 1st Corporate Restructuring Exercise - Changed Name to Abuja Investments Company Limited |
| 2006 | Established Subsidiary Abuja Property & Development Company |
| 2006 | Established Subsidiary Abuja Technology Village |
| 2006 | Established Subsidiary Abuja Connect Limited |
| 2008 | Established Subsidiary Abuja Film Village Int |
| 2009 | Established Subsidiary PowerNoth-AICL Ltd |
| 2009 | 2nd Corporate Restructuring Exercise - Business Repositioning |
Holdings
The following are subsidiaries and business affiliates under AICL:[1]
Subsidiaries
- Abuja Property Development Company Limited (APDC) 100%
- Abuja Urban Mass Transport Company Limited (AUMTCO)] 100%
- Abuja Market Management Limited (AMML) 95%
- Abuja Technology Village Free Zone (ATVFZ) 51%
- Abuja Film Village Ltd 50%
- Gas Farm Project 50%
Affiliates
- Abuja Leasing Company (ALC) 20%
- PowerNoth AICL Equipment Leasing Company 20%
- American Hospital 20%
- ASO Savings & Loans Plc 10%
- Abuja Power Company Ltd 10%
- Capital Hotels (Sheraton Hotels and Towers Abuja]) 6.51%
- Abuja Downtown Mall 5%
Business Services
AICL in its capacity as a Quasi-governmental organization has been in the business of structuring public-private partnerships. In this vein the company offers the following services:[2]
- Business Development
- Financial Advisory
- Investment Management
- Project Management
- Real Estate Development
- Venture Capital
Sector Growth
Banking & Finance
AICL helped structure Aso Savings & Loans Plc the foremost Mortgage Banking institution in the Capital City.
Commerce
AICL's subsidiary Abuja Markets Management Limited (AMML) provides facility management services to almost all markets in the capital, Abuja.
Energy
The company has structured various platform companies for the economic development of the FCT in the energy sector, a couple of such companies are:
- Gas Farm Project
- Abuja Power Company
Entertainment & Hospitality
AICL has strategic holdings in Capital Hotels (Sheraton Hotel & Towers, Abuja) and is parent company to Abuja Film Village
Environment
In partnership with the Abuja Environmental Protection Agency (AEPB), AICL has made huge investments in this sector especially in the provision of waste disposal trucks through the incorporation of PowerNoth AICL Equipment Leasing Company for the clearance of waste from the city center.
Health
AICL has worked on incorporating the American Hospital, a project that has been underway since 2009.
Real Estate & Infrastructure
AICL holds investments in:
- Abuja Property Development Company Limited (APDC)
- Abuja Downtown Mall
Technology
In line with the Federal Capital Territory Master Plan, AICL set up the following companies to create increased capacity in the technology sector and improve existing automotive services in the region:[3]
- Abuja Technology Village Free Zone
- Abuja Automotive Village
Transportation
AICL has contributed to the transportation sector of the economy through the establishment of two key subsidiary companies: Abuja Leasing Company (ALC) and Abuja Urban Mass Transport Company (AUMTCO).
ALC provides a platform for individuals and companies to purchase vehicles for taxi services under a PPP structured arrangement tagged 'Abuja Green Cab Scheme'. This scheme provides lease finance to qualifying Nigerians over a tenure of up to four years for the purchase of Cabs.
AUMTCO provides subsidized transportation services to all inhabitants in the Federal Capital Territory (FCT). The company has over 150 buses which ply designated routes in the capital city and provides ad hoc transportation services to satellite towns which provide most of the workforce to the Capital City.
Partners
Over the years Abuja Investments Company Limited has been noted to work with the following companies:
- Abuja Environmental Protection Board[4]
- African University of Science & Technology[5]
- Aso Savings & Loans Plc[6]
- Churchgate Group[7]
- Craft Technologies Limited[8]
- Kakara Rapid Development[9]
See also
- Nigerian Investment Promotion Commission
- Federal Ministry of Industry, Trade and Investment (Nigeria)
- Economy of Nigeria
References
- ^ [1], Holding Company for the FCT.
- ^ [2] Archived 2012-03-25 at the Wayback Machine, AICL Business Services.
- ^ [3], Project Overview.
- ^ "Archived copy" (PDF). Archived from the original (PDF) on 2011-07-24. Retrieved 2011-06-20.
{cite web}: CS1 maint: archived copy as title (link), AICL sets the pace for AEPB. - ^ "Our Sponsors & Partners | African University of Science & Technology". Archived from the original on 2011-08-17. Retrieved 2011-06-20., AUST: Sponsors-Partners.
- ^ "ASO Partners - ASO Savings & Loans, PLC". Archived from the original on 2010-12-11. Retrieved 2011-06-20., Aso Savings: Partners.
- ^ [4] Archived 2011-09-03 at the Wayback Machine, AICL signs MOU with Churchgate Group.
- ^ [5], Nigeria at 50 anniversary promo.
- ^ [6], AICL Partners with Kakara.