The Tropical General Investment (TGI), a conglomerate of companies in agriculture, fishing and processing, chemical extractions, oil among others has concluded plans to expand its investment in Ogun state with about N5 billion, investing in poultry farming, food processing and chemical extractions.
TGI, a conglomerate of companies, including Chi Farms, Chi Retail, WACOT, Cormart, Fludor, Romson Oil Field Services Limited, ORC Fishing and Processing Limited among others, had earlier injected N5 billion in Ogun state’s economy through one of its subsidiaries – West African Cotton Company Limited (WACOT), engaging in cotton production and processing.
According to Jerome Shogbon, Chairman, Tropical General Investment (TGI), the group has created about 30,000 direct and indirect jobs and increased Ogun state economic base in few years of its presence in the state through the West African Cotton Company Limited (WACOT) N5 billion investments in cotton production and marketing of cotton lint to textiles mills.
Speaking during a working visit to Governor Ibikunle Amosun at Oke-Mosan Governor’s office in Abeokuta on Tuesday, Jerome Shogbon, Chairman, Tropical General Investment (TGI) said that though WACOT had already invested N5 billion in cotton production and created 30,000 jobs in the state, it however, planned huge expansion of its investment in agriculture and chemical extractions.
Shogbon, who revealed that the group had secured an expanse of land at Flower Gate, Sagamu interchange, along Lagos-Ibadan expressway, noted that the company was set to widen its scope of operation and investments by exploring various Agricultural value chain, including poultry farming, milling, food processing and chemical extractions to create more wealth and jobs.
He said, “We have got investments of N5 billion and 30,000 direct and indirect jobs already in Ogun state.
We are here in Ogun state as part of efforts to expand our investment. We want to thank His Excellency for helping us secure land at Flower Gate – We have already acquired land there and we are coming back soon for more land.
“Right now, through Chi Farms, we are investing in poultry farming and food processing, and we also investing in chemical extractions.”
Responding, Governor Ibikunle Amosun, who received management team from Tropical General Investement (TGI) being led by its Chairman in Abeokuta, said the investment in the state economy was in consonance with government’s desire to make the state private sector – driven and raise revenue to run the state aside from the monthly Federal allocation.
While assuring the investors of total support of its administration, Governor Amosun said, “We need more of your presence in Ogun state. The only way to go is to have the state to be private sector-driven actually.
“With the dwindling Federal allocation, I am one of those that never believed in waiting for the Federal allocation to run the state. I know that the way to go is to be self-sustaining, create wealth and employ youths by creating employment opportunities.”
RAZAQ AYINLA
