Many have wondered why shooting and killing has ebbed in the industrial town of Eleme near Port Harcourt in recent times, only to hear that Elano Investments Limited has stepped in with multifaceted approaches. The revelation came on Monday, December 30, 2019, at the end of year address issued at a dinner organized by the company in Port Harcourt.
Elano is an investment company created to receive and manage the 7.5 per cent equity granted the host communities of Indorama Eleme Petrochemicals Limited. Elano is said to have raised about N3Bn from a commercial bank at a time no bank was ready to lend such an amount to a community to buy shares and when the Bureau of Privatisation and other arms of government were not ready to give the shares as a handout as the communities previously expected.
Elano was thus formed as a special purpose vehicle to raise funds, acquire the shares, and manage it on behalf of the host communities. They signed deals share out part of the dividends and use part to do development projects in the host communities while also using part to pay back the loans and to run the company.
Now, Elano has become a huge intervention firm, solving many problems of the host communities far ahead of any government agency, since the first tranche of N14Bn accumulated dividends, the taste of which raised eyebrows and evil eyes.
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Now, Elano has gone beyond provision of infrastructure and empowerment schemes to intervene in security as Eleme area was becoming a killing field where high and low personalities were killed on regular basis. The result has been a lull in gun fights and end to killing.
Revealing the strategy, the chairman of Elano, the chief, Gomba Okanje, said in his end of year address to stakeholders that the firm had to intervene in the deteriorating situation. He said: “Our interventions and partnerships in restoring security in Eleme local council area and neighbouring communities has started paying off with the improved security in the land. We supported the police, the newly created Eleme Area Command, other security agencies and the youth council with patrol vans.”
Insiders said this has been achieved with patrol vans for rapid response, better training and higher motivation added to the support of the youth council who seem to form a community policing layer to the secondary layers. Information and surveillance seem to be part of the strategy.
On this score, the chairman said 2019 has been very eventful for Elano Investment Limited, the company mandated to mobilise resources to acquire and manage the community’s 7.5 per cent shares in Indorama Eleme Petrochemicals Limited (IEPL). “Not only have the shares of your investments in IEPL been yielding good dividends, the dividends of investments in education, infrastructure, healthcare, security and estate development has been bearing fruits.
“The 10 students sponsored to pursue master’s degree programmes in top universities in the UK have completed their courses. The 45 youths that the company sent to the Maritime Academy of Nigeria at Oron in Akwa Ibom State to acquire specialised skills have graduated and have been provided with starter packs. It is the same with the 12 women that were trained in catering and hospitality management at the University of Port Harcourt. More than 300 students benefited from the first phase of our bursary scheme for students in tertiary institutions. The second batch of the awards is being processed and very soon the authenticated recipients will receive their alerts.
“In the area of infrastructure, all the host communities have received the touch of Elano Investments Limited. We have since gone beyond the first phase of the construction of community roads after successfully constructing 15 km of asphalted roads concretized with drainages. We have since completed work on the inner section of Nyade Road and School Road, both in Aleto; the Craft Centre in Agbonchia, Okerenwa Road linking Ogale, Agbonchia, Njuru and Okerenwa communities.
“The number of families enjoying the Elano Health Insurance Scheme has increased from the initial 400 to 1,300. This means that the number of members of host communities benefiting from the free health insurance of the company has increased to 7,200.
“We have collaborated with other organisations like Ofalarun Eleme USA and O-E’la Obor Eleme and most recently Hope Charity Foundation to support Eleme people in need. For these and other efforts, we have been recorgnised with multiple awards, not only in Nigeria but also in Africa.
“We successfully held our 2018 Annual General Meeting in Calabar at which major resolutions an decisions that will see to the growth of the company were taken. On a sad note we lost three directors who were with us from the beginning. New ones have however joined the board.
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In his address, the chief said the evening was not to discuss the hard facts and figures of business but to relax the body and mind after a hectic year of achievements. He said: “We have done well. It is time to do the pleasure side.
“We have learnt the importance of true loyalty, sacrifice and faithfulness. I say, thank you. You were all carefully chosen because you have demonstrated care for not only the company but the host communities.
“Today is not a speechmaking day, so I will let you settle down to your meals and drinks. I pray the Almighty to continue to bless our company and the host communities and our critical stakeholders.”
The occasion was graced by carefully selected men and leaders in the area including a board member, the professor of economics, Walter Ollor, who was said to have pumped huge experience and intelligence into the running of Elano. Other board members with untiring contributions were mentioned to the huge applause of the audience; such as Hon Ngofa, Chief Godwin, Caska Ogosi, Fineman Olugwe. The chairman said God gave Eleme a big gift and Satan also gave his own. He said it is left for the Eleme people to choose which to accept, but observed that the crisis that rocked the place has ended, giving room for peace and development.
