Delta State, American Firm Seal $40m Songhai Farm Deal

The Delta State Government has officially released its $40m Songhai Farm to an American incorporation, Adventium Global Delta Consortium Limited.

This is following an MoU signed between the firm and the State Government on the transformation of the farm at Amukpe in Sapele Local Government Area into an Agro-Industrial Processing, Tourism and Training Park.

Presiding over the handing-over ceremony on Wednesday in Asaba, Secretary to the State Government, Patrick Ukah, pointed out that by the terms of the agreement, there were certain conditions that must be met before closing the deal.

Speaking on the conditions, he said, “Conditions such as obtaining the approval of the Federal Competition and Consumer Protection Commission, all other necessary regulatory and government consent, and a resolution of the Delta State House of Assembly approving the agreement.”

“Both parties had passed a resolution of either the state Executive Council or a general meeting (as the case may be) approving the agreement and any other necessary third-party consent had also been complied with which now provided a basis for both parties to proceed to close the deal, which culminated in the formal hand-over of Songhai Farms to the Joint Venture Company.”

In his remarks, the Group Managing Director of the firm, Isaac Oghogho, assured the state that his firm will play its part in keeping to the terms of the agreement signed with the government.

Agro Nigeria