About The Company
The Ado PolyVentures Limited was incorporated on 2nd May, 2001 as a private Limited Liability Company under the aegis of The Federal Polytechnic, Ado-Ekiti. The sole aim of establishing the company was to engage in business activities to boost the revenue earning capacity of the institution and make available to the general public the wealth of knowledge available in the Polytechnic community.
The principal units of the company presently includes:
1) The PolyVentures Head Office which manages and supervises all other units of the company and has three sub-units namely:
a) The Business Development/Marketing Unit
b) The Operations Unit
c) The Finance and Admin/Human Resource Management Unit.
2) The Prime Guest House –This is the hospitality service provider arm of the PolyVentures Limited. It also has three sub-units:
a) The Front Office Unit
b) The Food and Beverages Unit
c) The Accommodation Unit
3)The Poli Water Plant which produces and packages the poli sachet and table water duly registered with NAFDAC, SON and other government controlling bodies.
4) The PolyConsult – This is the consultancy, training and skill empowerment unit of the PolyVenture Ltd. Through this unit, the wealth of knowledge available in the Polytechnic community is made available to the general public. Some new training programs available at the PolyConsult include:
a) the Project Management Professional Training (PMP)
b) Graphic Design/Website Development Training
c) Short Courses leading to a certificate in the following:
i) Marketing and Sales (in partnership with Nigerian Institute of Marketing (NIM)
ii) Catering and Hotel Management
iii) Computer Studies
5) The PolyVentures Model Shop – which comprises the business centre, the meatshop and frozen chicken, drinks and snacks.
The company is the business outfit of the Federal Polytechnic, Ado-Ekiti commissioned to market its capabilities to the public in order to generate income that will enhance the internally generated revenueearning potential of the Institution.
Our core values are defined by the acronym RISE
Board of Directors’ Composition
1) Sir Remi Omotosho (A seasoned private sector administrator and director of many financial and business organizations) – Chairman
2) Rector of The Federal Polytechnic, Ado-Ekiti. - Member of the Board
3) A member of Council of the Federal Polytechnic, Ado-Ekiti. - Member of the Board
4) Registrar of The Federal Polytechnic, Ado-Ekiti. - Member of the Board
5) Bursar of The Federal Polytechnic, Ado-Ekiti. - Member of the Board
6) MD/CEO of the Company - Member of the Board
7) Representatives of the Polytechnic congregation. - Ex-officio Member
8) Representatives of the Alumni Association of the Polytechnic - Ex-officio Member
The objects and regulations for which the company is established are as contained in the Memorandum and Articles of Association of the company respectively and outlined below:
1a) To carry on consultancy services in the following areas: General Management; Accountancy and Finance, Civil, Electrical, Mechanical and General Engineering Works.
b) To carry on Computer Engineering Services, Training Software Development, Networking, Communication Services, Sales of Computers and Accessories.
2a) To carry on all or any of the business of transport, cartage and haulage contractors, garage proprietor owners and chatters of road vehicles, aircraft and tugs, ship, barges and boats of every description, lighter men, carriers of goods and passengers by road, rail, water or air, Carmen, cartage contractors and agents.
b) To carry on the business of oil and petroleum sales, marketing, store oil, petrol, gas, kerosene, operate filling stations and gas-filling plants, erect structures for that purpose and to carry on the business of petroleum merchants and all petroleum products.
c) To undertake and carry on all of the business of manufactures, installers, operators, repairers of and dealers in electrical and electronic appliance and apparatus of every description including but not limited to satellite communication equipment, cellular and other phones, computer networking, website development, cyber-café, e-mail internet, related business, telephones, telegraphs, satellite dishes and cable networking and to provide satellite and cable or radio, television services.
3) To carry out the business of Hotels, restaurants, café, road houses, motels, holiday camps, tourist centre, caravan site and apartment, house keeper, caterer and dealers in tobacco, liquor and other allied products and rental services.
4) To carry on the business of civil, mechanical and electrical engineering consultancy and construction services.
5) To carry on business as General Contactors, Supplier, General Merchants, Dealers in building materials, stationery and office equipment, and to act as manufacturers representative.
6) To carry on business as printers, publishers, and to engage in the production and marketing of printing and publishing equipment and materials.
7) To carry on the business of produce buyers and dealers in all kinds of produce including cocoa, cocoabutter, cocoa-cake, groundnut, flour, oil-palm, palm kernels, soyabeans, flax, cotton seed, castor seed, sugar, rubber, coffee, tea, gum Arabic, gingers, live animals and birds, animal by-products, skins, bones, boney, hooves grutta percha, kolanuts, cassava roots and other raw or partly processed materials.
8) To carry on the business of manufacturing, wholesale and retail chemicals, supermarkets pharmacist, and other related business.
9) To undertake the manufacturing, marketing, sales (wholesale or retail), repairs, and servicing of all kinds of goods, products and commodities, including food products associated with or ceramic, plastic and all other products associated with or auxiliary to the business of general manufacturers and dealers as afore-said, or for which the resources of the company as manufacturers may be conveniently used.
10) To carry on business as produce merchants and exporters.
11) To draw, make, accept, endorse, discount, execute and issue promissory notes, bills of exchange, bills of lading, warrants, and other negotiable and transferable instruments.
12) To carry on business as importers and exporters of all kinds of goods, products, and commodities, and to act as merchants, buy, sell, barter, exchange, pledge, make advance upon, or otherwise deal as wholesalers or retailers in hard wares, enamelware, household goods, building materials, cookery machines, motor vehicles, spare parts and other accessories.
13) To carry on the business of agriculture, growers and cultivators of rubber, palm produce, cocoa coffee, cashew and other produces of the soil, and to treat, process, prepare, package and render marketable, buy, sell and dispose of any such products, either in their raw or manufactured state, and any product or by-product derived there from.
14) To service, sell and maintain light and heavy vehicles, technical, scientific, agricultural and construction equipment and materials, viz: diesel, trucks, cars, tractors and vehicles of all kinds.
15) To carry on all business of manufacturer of, maker of, dealers and workers in cement, lime plaster, asbestos, whiting clay, gravel, reinforced concrete works, blocks, sand, mineral, earth, coke, artificial stones, marble, builders requisites and conveniences of all kinds.
16) To deal in service, sell, hire, let out and maintain light and heavy vehicles, earth moving equipment, tractors, trucks, trailers, cars, buses, excavators, agricultural plant and machinery, implements and various building and construction equipment.
17) To buy, sell, repair, exchange, deal in and finance the sale of scientific, electronic appliances, machineries, goods, materials, articles and clinical.
18) To acquire and deal with real estate and to purchase and hire out plants of all kinds.
19) To carry on the business of factors and warehousemen, of agents, and of any dealers in raw, intermediates or manufactured goods, general storekeeper, railway, shipping, clearing and forwarding agents, export, import and to carry on all or any of the foregoing business operations or activities in Nigeria or elsewhere throughout the world.
20) To establish and carry on business as real estate agent, rent and debt collectors and to buy, and deal in all kinds of landed properties and residential buildings, or otherwise.
21) To apply for, register, purchase or by other means acquire and protect, prolong and renew – whether in Nigeria or elsewhere – any patents, patent rights, brevets, invention, licences, trade marks, designs, protections and concessions which may appear likely to be advantageous or useful to the Company.
22) To carry on the business of manufacturers and dealers (whether by wholesale or retail) technical, electrical, electronic, chemical, and photographic materials, equipment or other apparatus.
23) To fit up, furnish and renovate any property for the purpose of letting same to visitors or guests, whether in single rooms, double rooms, suites, chalets, caravans, movable structures, cottages of otherwise.
24) To sell or otherwise dispose of any part of the undertaking of the Company either together or in portion, for such consideration as the Company may think fit, and in particular for shares, debentures, or securities, of any company purchasing the same.
25) To carry on business as warehousemen and store of goods, produce, wares and merchandise of every description whatsoever.
26) To manufacture, buy, sell or deal in mineral waters, wines codials, liquors, soup, broths and other restoratives of food, specially suitable or deemed to be suitable for invalids, and convalescents.
27) To carry on the business of manufactures of, and in anatomical, orthopaedic, and surgical applicants of all kind.
28) To manufacture and deal in toiletries, various products and other goods and things of such nature that can, in the opinion of the company, be conveniently manufactured or dealt in by the Company, in connection with any of the foregoing businesses.
29) To take or otherwise acquire and hold shares, debentures, debenture stocks or other securities in any other company having objects altogether or in part similar to those of this company, or carrying on a business capable of being conducted so as to directly benefit or enhance the value of this company.
30) To carry on business as an investment and holding company.
31) To lend or advance money, or give credit to persons, firms and companies, on such terms as may seem expedient and in particular to customers and others having dealing with the company. Further, to give guarantees or become security for any person, firms or companies as in the opinion of the Directors may be necessary or advisable for the purpose of the Company’s business.
32) To enter into contracts, agreement and arrangements with any other persons firms or companies, firms or persons and on behalf of the company, in any of the objects for which the company is formed.