Nosak Group, a Nigerian industrial conglomerate with diversified interests in the Nigerian economy, over the weekend, hosted a team of Edo State government officials led by the secretary to Edo State government, Osarodion Ogie.
Chairman of Nosak Group, Toni Ogunbor, took the officials of the state on a facility tour of the company’s business outlets in Apapa and Amuwo Odofin Local Government. The facilities include Nosak Farm Produce, Nosak Distillers and Grand Petroleum. The company offers services in various sectors of the economy, which include: retails, manufacturing, logistics, finance, agriculture, haulage, real estate and petroleum.
Speaking during the tour, Ogunbor said the company was seeking partnership with the state in the area of investment. The company intends to open some business offices in Edo State as a way of supporting the Edo State Govt in the area of 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.
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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 his words “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.
On the projects being undertaking by Nosak Group, Ogunbor stated that it requires land for plantations. 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 are for about 60 years and the businesses that will be located in the communities will 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 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.
While rounding off the tour at the Group’s head office in Ogudu G.R.A, the Chief Operating Officer of Nosak Group, Thomas Oloriegbe, addressed the Edo state Govt officials and enjoined them to work towards the actualization of the projects. He stated that currently, Nosak Group has about 400 staff in Lagos and with their venturing into Edo state; it will help to create employment for the people in the state.
Oloriegbe also stated that Nosak Group presently have 11 strategic business units. Nosak Distillers have 3 plants for production; Grand Petroleum has 4 tanks that produce 1.5m litters per month which totals 6million liters per month, while Nosak Haulage has over 35 trucks. The Group also have ambitious plans for expansion in the near future.
In the words of Oloriegbe, “the next phase for Nosak Group is to cultivate 7,000 hecters of land for palm plantation in Edo State for Saturn Farms, Install 150,000 liters per day for Nosak Distillers, expansion of production capacity from 200 to 1,200 Metric tonnesper day for Nosak Farm Produce, expand to 4 other locations for CCD Super Stores – Yaba, Surulere, Lekki & Island in the next 3 years, and to procure additional 30 new trucks for the Haulage business.”
