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Akwa Ibom investments in companies hit N4bn

18 February 2014, 17:30

Uyo - The market value of Akwa Ibom’s investments in equity of companies as at December 2013 is worth over N4 billion.

Nse Ekefre, the Permanent Secretary, state Ministry of Finance, stated this in Uyo at the presentation of the progress report to the "Forum of Permanent Secretaries”.

Ekefre said as at the period, the Ministry had earned dividends of N82 million from its investments in equity.

He also announced that the state government had saved N250 million, following verification by the Funds Monitoring Unit of the ministry between January and December 2013.

Ekefre announced that in 2014, the state government would acquire right issues in companies that it had substantial investments and give loans to workers to purchase shares.


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