The Delta State Government has officially handover $40m Songhai Farm to an American incorporation, Adventium Global Delta Consortium Limited.
The State Government recently signed an MoU with the firm for the transformation of the Songhai Delta Farm at Amukpe in Sapele Local Government Area into an Agro-Industrial Processing, Tourism and Training Park.
However, Secretary to the State Government, Patrick Ukah, who presided over the handover on Wednesday in Asaba, stated that by the terms of the agreement, there were certain conditions that had to be met before closing the deal.
He said, “The 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 Adventium Global Consortium Limited, Isaac Oghogho, thanked the state government for giving the Consortium the opportunity to partner with the state.
He assured the state government that his firm will ensure that it plays its part in keeping to the terms of the agreement it signed with the state government”