An indigenous industrial conglomerate, Nosak Group, has partnered the Edo State Government to boost job creation in the state.
The group disclosed this during a facility tour of the company’s business outlets in Apapa and Amuwo Odofin local government areas with a team of Edo State government officials led by the Secretary to the State Government, Osarodion Ogie.
The Chairman of Nosak Group, Toni Ogunbor, who noted that the company was seeking partnership with the state government in the area of investment, disclosed that the company intended to open some business outlets in Edo State as a way of supporting the state government in the area of job creation.
He added that the company had negotiated with three communities for land lease and crop compensation at mutually agreed terms.
He further stated that the leases were for about 60 years and the businesses that would be located in the communities would bring development closer to the people.
He said, “In the past three years, the group has fine-tuned its investment strategy and wants to focus more on the agro-allied sector. Consequently, the group has chosen to rapidly grow three of its subsidiaries: Nosak Farm Produce Limited – palm oil plantation, milling and refining; Saturn Farms Limited – palm oil plantation and milling; and Premier Plantations Limited/Nosak Distillers Limited – cassava plantation and conversion to ethanol.
“Nosak Group has negotiated with three communities for land leases and crop compensation at mutually agreed terms. They are Obagie Community – 10,000 hectares, Igieduma Community – 7,000 hectares, and Evbueghae in Orhionmwon local government – 5,000 hectares.
“This measure is aimed at embracing Backward Integration Policy as a way of reducing costs of production while ensuring efficient utilisation of the Nosak Group’s resources.”
The Chief Operating Officer of Nosak Group, Thomas Oloriegbe, who noted that the projects would create employment for the people of Edo State, urged the state government to work towards actualising the project.
In his remarks, the secretary to the state government, Ogie, commended the management of Nosak Group for inviting them on a tour of their facilities.
He stated that the project was a laudable objective which deserved support from both the government and people of Edo State.
He said, “The Edo State government will do its best to support Nosak Group in acquiring more lands in Edo state for the ultimate benefit of Edo people.”
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]