…To Consolidate On Comparative Advantage
Senior management of Nosak Group, an indigenous Nigerian industrial conglomerate chaired by Dr. Toni Ogunbor, convened recently at a serene location in Lagos for her Annual Group Management Retreat to review 2018 and to chart objectives for 2019 leveraging on the Group’s comparative advantage. The theme of the retreat was “Strengthen the chain through the customer”.
Nosak Group operates companies in key economic sectors of Nigeria cutting across agribusiness, financial service, manufacturing, real estate, and retail business with a unifying mission to foster an environment of success that supports each subsidiary in becoming the dominant player in the sector of operation.
In his welcome address, Dr. Toni Ogunbor, Chairman of the Group commended the management team for surmounting the challenging business environment to achieve results contributing to the growth of the Nigeria economy. “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”, he said.
In regards to importation in Nigeria, Dr. Ogunbor called on the Federal Government to checkmate the increase in smuggling activities, which is huge loss of revenue for the government and lack of accountability in the Customs thereby serving as damage to the economy. “Government should put in competent hands who 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”.
In his presentation 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”.
From the retreat, Nosak Group has set goals to further boost the economy and increase job creation through importation of oil palm seedlings required for the backward integration for the Nosak Famili Vegetable oil business. This will take off in the course of the year starting with the nursery. Also, the Group 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. These will enable the Group 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 to serve as Cassava Plantation and Conversion to ethanol for Nosak Distilleries Limited.
The Group has pledged to intensify efforts to increase market share of voice for all her brands including Nosak Famili Vegetable Oil and Palm Oil, Atlantic (Ethanol in Drums), CCD Superstores and Nosak Haulage services to become first choice for any buying decision maker in Nigeria.