Nosak Group, a Nigerian industrial conglomerate with diversified interest, recently hosted a team of Edo State Government officials.
The government delegation was led by the Secretary to Edo State Govt, Mr. Osarodion Ogie.
A statement explained that the Chairman of Nosak Group, Dr. Toni Ogunbor, took the officials of the state government on a facility tour of the company’s business outlets in Apapa and Amuwo Odofin local government.
The facilities included Nosak Farm Produce Limited, Nosak Distillers Limited and Grand Petroleum Limited.
The company offers services in various sectors of the economy which includes: retails, manufacturing, logistics, finance, agriculture, haulage, real estate and petroleum.
Speaking during the tour, the Chairman of Nosak Group stated that the company was seeking partnership with Edo State in the area of investment.
The company, according to him, intends to open business offices in Edo State as a way of supporting the state in job creation.
“With unemployment rate rising in the country, Nosak Group hopes to play its own part by replicating its successful business venture in Lagos to Edo state,” the statement added.
Speaking further, Ogunbor stated that Nosak Group has a total direct investment of about N30 billion, mostly in Lagos and partly in Edo state.
“In the past three years, the Group has fine-tuned its investment strategy and wants to focus more on the agro allied sector,” he said.
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.
On the projects being undertaken by the Group, Ogunbor stated that it required land for plantation.
According to him, “Nosak Group has negotiated with three communities for land leases and crop compensation at mutually agreed terms. They are: Obagie Community – 10,000 hecters, Igieduma Community – 7,000 hecters and Evbueghae in Orhionmwon local government – 5,000 hecters.”
He further stated that the leases were for about 60 years and that the businesses that would be located in the communities would bring development closer to the people.
On Ethanol production, Ogunbor stated that recently, the Group embarked on a tour of China, Thailand and Vietnam to learn how those countries were able to convert cassava to ethanol.
This measure was aimed at embracing Backward Integration Policy as a way of reducing costs of production while ensuring efficient utilisation of the Nosak Group’s resources.
In his remarks, Ogie, thanked the management of Nosak Group for inviting them on a tour of their facilities.
“The Edo state Govt will do its best to support Nosak Group in acquiring more lands in Edo state for the ultimate benefit of Edo people,” he said.
He commended Ogunbor for the good work he was doing.