By; SANI ALIYU, Zaria
NAERLS Suites and Conference Centre has made a profit of N63 million annually.
The hospitality company is owned by Ahmadu Bello University and four other shareholders, all agriculture-based institutes belonging to the university.
The other shareholders are National Agricultural Extension and Research Liaison Services (NAERLS), Institute for Agricultural Research (IAR), National Animal Production and Research Institute (NAPRI) and Division of Agricultural Colleges (DAC).
Chairman, Board of NAERLS Suites and Conference Centre, Prof. Mohammed Khalid Othman, disclosed this when he led members of the board on a courtesy visit to Vice-Chancellor, Ahmadu Bello University, Prof. Kabir Bala in his office.
The Board Chairman, said the visit was primarily to brief him on the state of the hotel, describing the company as one of the successful investments in the university.
“We are glad to state that the hotel yields an average net operating profit of N63 million annually.
The total claimable share dividends from 2013 to 2017 was N205,169,333.96”, he said.
Professor Khalid Othman said the hotel became operational since 2012 and has a total of 54 rooms of different categories, with kitchen, restaurant, conference hall, administrative offices, stores and other essential facilities.
The Chairman also stated that as a result of high patronage, the facilities were always overstretched, a development that prompted the shareholders to consider it expedient to expand the place.
The expansion project, according to him, had reached 25 per cent completion which has gulped about N180 million and requires an additional N1.1 billion for total completion.
Prof. Othman explained that no kobo was borrowed or collected from within or outside for the expansion as the financing of the project was made through capitalization of the yearly dividends.
He then called on the Vice-Chancellor for his intervention to help complete the project by persuading some of the identified units and centres of the university as well as in-house unions to buy shares of the hotel.
Responding, the Vice Chancellor, Prof. Kabir Bala expressed satisfaction with the hospitality business.
Prof. Bala also pledged to look into the board’s prayers with a view to mobilizing the needed financial resources to complete the second phase of the project.
The Chairman was in company of some members of the board that included the Executive Director, Institute for Agricultural Research (IAR), Prof. Muhammad Ishiyaku; Executive Director, National Animal Production and Research Institute (NAPRI), Prof. Abdullahi Kolo Mohammed and Director, Division of Agricultural Colleges (DAC), Prof. Musa Abdullahi Mahadi.
Others on the entourage were the board’s Secretary, Barrister Samaila Abdullahi Barau; Managing Director, Blissy Hospitality Services, Mr. Badaki Aliyu; and the Board’s Assistant Secretary, Aisha Jummai Mohammed.