Lagos State House of Assembly has taken the second reading of a bill for a law to provide for the establishment of Ibile Holding Corporation.
Hon. Mojeed Fatai stated that the agency would enable the Government to know the number of investments which will help in determining returns in the State and also provide business opportunities in the country.
Hon. Abiodun Tobun reiterated that the Agency would protect the investment portfolio of the State. He also opined that there was need for executive briefing on some grey areas of the bill.
Contributing, Hon. Yishawu stated that this bill is apt, as such there should be an agency that can handle our investment and act as repository of all investment in the State.
He added that “I suggest that the five divisions of the State should be considered for the Board”.
“Ibile Holdings is known as the investment profit for the government and it will not be out of place to have an investment arm that will coordinate the government investment. I appeal that this bill should be passed to appropriate committee for further actions” Hon. Rotimi Abiru stated.
The Speaker, Rt. Hon. Mudashiru Obasa emphasized on the need for the Bill saying “ it is to set an investment vehicle in motion for the State”. He however committed the bill to House Committee on Finance for necessary actions to report back to the House in eight weeks. He implored the Committee to seek the counsel of necessary authorities to shed light on grey areas.