The Delta State Government has signed a shareholders’ agreement with Adventium Global Delta Consortium Limited, a subsidiary of Adventium Global Incorporation, USA, for the transformation of the Songhai Delta Farm at Amukpe in Sapele Local Government Area into an agro-industrial processing, tourism and training park.
The secretary to the state government, Chief Patrick Ukah, who signed on behalf of the government, said the project was a testament of Governor Ifeanyi Okowa’s vision for creating jobs for the youths in the state and diversifying its revenue base from over reliance in crude oil revenue.
He commended members of the committee set up to drive the process as they were able to deliver on the set goals within the stipulated time.
He called on the management team of the consortium to ensure that they kept to the terms of the shareholders agreement to achieve the goals of the public-private partnership arrangement with the state government.
Earlier, the chief operating officer of the firm, Mr Simeon Asaboro, speaking on behalf of the group managing director and chief executive officer, Mr Isaac Oghogho, said their investment in Songhai Delta was under a public- private partnership agreement.
He disclosed that the consortium would inject US$40 million into the project, bring technical partners and manage the transformation of the farm.
He further stated that the project would have socio-economic and developmental impact on the state, such as creating jobs for the teeming unemployed and under-employed youths and women in the state.
The initiative would ensure the development of several communities across the state, where raw materials (crops and livestock) shall be produced and bred on a large-scale commercial basis to feed the processing plants at the Songhai Delta Farm, he added. .
He also said the project would generate revenue for the state, promote tourism potentials and project the investment opportunities in Delta to the world.
