In order to centralize operation and pursue better efficiency in his businesses, former Vice President of Nigeria, Atiku Abubakar has announced migration of all his business outfits into an umbrella brand known as the Priam Group.
Atiku, a business tycoon and industrialist is the founder of a number of businesses spanning several sectors of the economy including manufacturing, media, banking, logistics, agriculture, printing, education, eateries, beverages, real estate and animal food processing. He is also a principal shareholder in many more companies both within and outside of Nigeria.
Under the new arrangement, many of the business concerns wholly connected to Atiku Abubakar will come under one brand and one common management.
In a statement signed by his media adviser, Paul Ibe, Priam Group will take over assets and liabilities of the existing companies including, more especially, staff emoluments and other welfare.
“Atiku believes that this process of restructuring will bring operating efficiency, cost control and good corporate governance to the group companies and will also allow it to focus on future growth opportunities.
“To this end, Priam Group has completed its feasibility study for the construction of a rice milling company by the River Benue in Adamawa and has plans to (by June 2020) commission its Abuja animal feeds factory after some delays in getting the factory equipment.
“The group is also looking to actively expand its bottling capacity to cover whole of north and is investing in expanding its logistics fleet to service the future capacity expansion. The future plans also entail having a larger footprint of its chicken cottage brand and wider reach for its Television channel by going on Satellite.