Ekiti State Governor, Dr.Kayode Fayemi, has approved the establishment of Fountain Holdings Limited (FHL) as the investment vehicle to drive economic activities of the state.
Under the new arrangement, Fountain Holdings Limited would be responsible for managing and supervising all companies owned by the Ekiti State government such as Ire Burnt Bricks Limited, Fountain Aggregate Company Limited and ROMACO. Others are Fountain Hotels Limited in Ado Ekiti, Fountain Newspapers and Publishing Company Limited, Fountain Solid Mineral Development Company Limited, Ikogosi Warm Spring Development Company Limited and their subsidiaries.
The company will also represent the commercial interests of Ekiti State under Private Public Partnership (PPP) and manage the various investment portfolios of the state government.
Fountain Holdings Limited is also saddled with: Facilitating and generating employment opportunities through the small scale sector industries to the state; stimulating efficient management of the state investment Portfolio and assisting in facilitating the diversification of the economy of the state from dependence on production and enterprise.
The governor has also approved the appointment of Mr Olusegun Osinkolu, a seasoned investment banker as the Managing Director of Fountain Holdings Ltd.
Osinkolu is a graduate of Accounting and a post graduate MBA degree holder in Financial Management from the University of Wales.
He has worked in reputable organisations such as HSBC Bank, United Kingdom, United Bank for Africa Plc, First City Merchant Bank Plc, Oando Petroleum Plc.
Until his appointment Osinkolu, who was the Managing Director/CEO Habitat Oil and Gas Ltd was a Senatorial candidate in Ekiti North under the Action Congress of Nigeria (ACN).
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