Kwara PDP Raises Alarm Over Alleged Plan to Liquidate Harmony Holdings, Demands Transparency

The Kwara State chapter of the Peoples Democratic Party (PDP) has called on the state government to urgently clarify reports suggesting a possible move to liquidate Harmony Holdings, a key state-owned investment company.

In a press statement issued on April 30, 2026, and signed by its State Publicity Secretary, Olusegun Olusola Adewara, the opposition party said it had received multiple reports from concerned citizens indicating that the administration of Governor AbdulRahman AbdulRazaq may have begun processes linked to the disposal of the state asset.

The PDP noted that while the reports remain unconfirmed, their consistency and gravity warrant immediate public clarification, especially given what the party described as a “troubling history” of asset management under the current administration.

Describing Harmony Holdings as a collective economic asset of the people, the party stressed that it is not a private entity that can be restructured or disposed of without due process and public engagement. It argued that any decision affecting the status of the company—whether liquidation, concession, or restructuring—must be subjected to transparency and legislative oversight.

The party raised several questions it said require urgent answers from the state government. These include whether a liquidator has been appointed, the legal framework guiding such a decision, and whether the Kwara State House of Assembly has been duly informed or involved. It also demanded clarity on measures in place to prevent public assets from being transferred into private hands under unclear arrangements.

The PDP linked its concerns to what it described as a pattern of declining public asset value in the state. It cited the collapse of the Kwara Express transport system, once a major contributor to mobility and economic activity, alleging that buses under the scheme were sold without transparent accounting to the public.

Against this backdrop, the opposition party urged civil society groups, labour unions, and professional bodies across Kwara State to demand accountability and safeguard public assets.

“Public assets are not personal estates to be managed in secrecy,” the statement read, emphasizing the need for openness and due process in decisions affecting state-owned investments.

As of the time of filing this report, the Kwara State Government has not issued an official response to the allegations.