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Uzodimma, host communities reach truce over N350b Adapalm investment

By Charles Ogugbuaja, Owerri
16 January 2022   |   2:47 am
Imo State Governor, Hope Uzodimma, has entered into dialogue with authorities of Roche Group and host communities as well as equity holders over the N350b Adapalm Company

Hope Uzodimma

Imo State Governor, Hope Uzodimma, has entered into dialogue with authorities of Roche Group and host communities as well as equity holders over the N350b Adapalm Company investment situated in Ohaji in Ohaji / Egbema Local Council of the state.

Speaking at the Government House, Owerri, yesterday, with stakeholders on the best option to maximise investment through the Public-Private Partnership (PPP), Uzodimma said his administration had amicably settled with the Roche Group’s management on agreement midwifed by the erstwhile Rochas Okorocha administration.

“ In the present arrangement, Imo State Government has an equity share of 14 per cent, while the host communities have five per cent. The board and management of the company will work out the remaining equity percentage to accommodate other interest groups,” Uzodimma said.

He noted that N350b invested by Roche Group was huge, advising that the company needed to reap from the investment with required profit and dividends, as equity holders are unhindered.

Other officials at the meeting were the Deputy Governor, Prof. Placid Njoku; the Chief of Staff to the Governor, Nnamdi Anyaehie and others.

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