PDP to acquire oil, telecoms licences to fund party

The Peoples Democratic Party is planning to acquire oil and telecommunication licenses to generate revenue for the party.

This was part of the revenue generation and investments strategies of the party, which was prepared by its National Financial Secretary, Mr. Bolaji Anani.

Anani, in a memo entitled, “Revenue generations and investments” to the National Chairman of the party, Dr. Bamanga Tukur, said it would be easy for the party to get the needed concession and operator’s licence.

Anani wrote under the sub-head “Major Sectors,” in the memo 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 (the) needed concession and operator’s licence with some measure of ease.”

It was not clear those that the party were targeting as fronts in this regard.

Our correspondent, however, reports that the party was already talking to some known oil markers, especially those known to be its financiers.

Other areas where the party hopes to generate funds include real estate and the establishment of print and electronic media companies.

Anani further wrote, “The establishment of PDP Holding Company Ltd is to hold and negotiate the interests of the party in all investments and business arrangements.”

On loans, the party said it planned to “raise short, medium and long term loans from financial institutions to fund the party’s investments and programmes with minimum risk.”

Meanwhile, the party is expecting the sum of N140.97m as annual contributions of the Senate President, Senator David Mark; Speaker of the House of Representatives, Alhaji Aminu Tambuwal and other members of the National Assembly.

Each of the 71 senators produced by the party is expected to pay the sum of N45m which represents five per cent deduction from their basic salaries. Mark and Tambuwal are expected to pay more because they earn more.