Delta State Government, weekend, signed a N23.2bn shareholders agreement with Adventium Global Delta Consortium Limited, a subsidiary of Adventium Global Incorporation, USA, for the upgrade of agricultural activities at Songhai Delta Farm in Amukpe, Sapele Local Government Area of the state into Agro-Industrial Processing, Tourism and Training Park.
The fund, under Public Private Partnership (PPP) arrangement, would be raised in a joint venture between the state government and the consortium to achieve set goals.
The Secretary to the State Government (SSG), Patrick Ukah, who signed on behalf of the state government, stated that signing of the agreement between the government and the consortium was an affirmation of Governor Okowa’s vision for jobs creation for youths in the state and diversification of the state’s revenue base from over-reliance on crude oil.
The SSG commended members of the committee set up to drive the process for delivering on the set goals at the stipulated time.
He called on the consortium to ensure that terms of the shareholders agreement are observed to achieve the goals of the PPP arrangement with the state government.
The Chief Operating Officer of the firm, Mr. Simeon Asaboro, who spoke on behalf of the Group Managing Director and Chief Executive Officer of Adventium Global Delta Consortium Limited, Mr. Isaac Oghogho, said their investment in Songhai Delta was under a Public Private Partnership agreement where the consortium would inject N23.2 billion (approx. US$40 million) into the project, incorporate technical partners to ensure the desired transformation of the farm.
He also stated that the project would have socio-economic and developmental impact on the state, such as creating jobs for the unemployed, under-employed youths and women in the state; ensure development of communities across the state, especially for production of crops and livestock on a large-scale to feed the processing plants at the Songhai Delta Farm.