NOSAK GROUP PLANS TO INVEST IN AGRIBUSINESS
Nosak Group of companies, an indigenous conglomerate with interest cutting across agribusiness, financial service, manufacturing, real estate and retail business held its Annual Group Management Retreat in Lagos, recently to review its activities in 2018, sets a new agenda for the New Year and leveraged on its comparative advantage.
With the theme: “Strengthen the chain through the customer”, the firm promised to boost the nation’s economy and create more jobs through the importation of oil palm seedlings required for the backward integration for the Nosak Famili Vegetable oil business.
In his welcome address, Chairman of the Group, Dr. Toni Ogunbor commended the management team for surmounting the challenging business environment and contributes to the growth of the nation’s economy. He said: “2018 was a more challenging year compared to 2017 but we are happy that the challenges didn’t overwhelm us. This is the result of hard work and dedication.’’
Dr. Ogunbor also challenged the Federal Government on the increasing activities of smugglers on the nation borders, which he said has caused huge loss of revenue and poses a threat to the economy.
“Government should put in competent hands that will ensure the right things are done to oversee the border. A secured border will help to put an end to or ameliorate the current unholy price war experienced by local manufacturers”. He said.
To accomplish the set objectives, the Group said it has acquired over 10,000 hectares at Igieduma, 7,000 hectares and another 5,000 hectares of land respectively at Evbueghae all in Edo state for plantation purposes and served three of its subsidiaries: Nosak Farm Produce Limited, Saturn Farms Limited and Nosak Distilleries Limited.
Speaking on the topic, ‘Executing your next growth agenda – what ERGP has for you’, Dr. Effiong Essien, Senior Special Assistant to the President on ERGP Implementation (Agriculture and Transportation) said, “In the execution of your growth agenda, the Economic Recovery and Growth Plan (ERGP) recommends driving innovations to boost the economy of Nigeria as a collective responsibility of the private sector operators, government and tertiary institutions. The intersection of these segments would accelerate capacity development to drive agriculture innovations”.
