Delta State Signs $40m Agreement With American Firm to Transform Songhai Farm
The Delta State government has signed a Memorandum of Understanding (MoU) with Adventium Global Delta Consortium Limited, a subsidiary of Adventium Global Incorporation, United States, for the transformation of Songhai Delta Farm at Amukpe in the Sapele Local Government Area into an Agro-Industrial Processing, Tourism, and Training Park.
Speaking at the event of the MoU signing in Asaba, the Secretary to the State Government, Patrick Ukah, said the agreement between the state and the consortium was part of Governor Ifeanyi Okowa’s ambition of creating jobs for youths in the state and diversifying the state’s economic base away from crude oil revenue.
He said, “I commend members of the committee set up to drive the process as they were able to deliver on the set goals within the stipulated time. The management team of the consortium should ensure that they keep to the terms of the shareholders’ agreement to achieve the goals of the Public-Private Partnership arrangement with the state government.”
Earlier, the Group Managing Director and Chief Executive Officer, Adventium Global Delta Consortium Limited, Mr Isaac Oghogho, represented by the firm’s Chief Operating Officer, Mr Simeon Asaboro, said the consortium’s investment in Songhai Delta was made under a Public-Private Partnership agreement in which the consortium will invest $40 million, bring in technical partners, and manage the farm’s transformation.
He noted that the initiative would have a socio-economic and developmental impact on the state, including the creation of jobs for the state’s many unemployed and underemployed adolescents and women.
Agro Nigeria
