Home Delta State Delta, US Company Seal $40m Agric Deal

Delta, US Company Seal $40m Agric Deal

In line with its plan to inject over $40 million into its specialised agricultural project, the Delta State Government has signed a an agreement with Adventium Global Delta Consortium Limited, a subsidiary of Adventium Global Incorporation, USA, for the transformation of the Songhai Delta Farm at Amukpe, Sapele Local Government Area, into an Agro-Industrial Processing, Tourism and Training Park.

The Secretary to the State Government (SSG), Chief Patrick Ukah, who signed on behalf of the government, stated that the agreement was in tandem with Governor Ifeanyi Okowa’s vision of diversifying the state’s revenue base from over reliance on crude oil revenue and in strengthening the administration’s job and wealth creation programme.

While commending members of the steering committee for their commitment and timely delivering on the set goals, he charged 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 (PPP) arrangement with the state government.

Earlier, the Chief Operating Officer of the firm, Mr. Simeon Asaboro, who stood in for the Group Managing Director and Chief Executive Officer of Adventium Global Delta Consortium Limited, Mr. Isaac Oghogho, said the group’s investment in Songhai Delta was under a PPP agreement where the consortium would inject $40 million forty million dollars) into the project.

The consortium would also bring technical partners for effective management the transformation of the farm.

The project would have socio-economic and developmental impact on the state such as creating direct and indirect jobs for numerous unemployed and under-employed Deltans, particularly youths and women in the state, stir up development of several communities across the state where raw materials (crops and livestock) shall be produced on a large-scale commercial basis for feeding the processing plants at the Songhai Delta Farm, he assured.

“Moreover, the project will also generate revenue for the state, promote the tourism potentials in the state and project the investment opportunities in Delta State to the world,” Oghogho further said.

Nevertheless, he thanked the state government for the opportunity to partnership, assuring that all the Consortium will meet the terms of the agreement.

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