Nigerian-born entrepreneur, Dozy Mmobuosi, builds $1,6bn food factory in Delta

Tingo Foods has performed the ground breaking of the first of its kind multi-million Tingo Foods Processing factory sited in Onicha-Ugbo, in the Aniocha North Local Government Area of Delta State.

The event, hosted by Nigerian born UK serial entrepreneur, Dozy Mmobuosi, was attended by the minister of Agriculture and rural Development, Dr. Mohammad Abubakar, the monarch of Onicha-Ugbo host community, HRM Obi Chukwumalieze 1, President General of Onicha-Ugbo Patriotic Union, Peter Kogolo and other captains of industry.

Tingo Foods, a subsidiary of Tingo International Holdings Incorporation, in a recent statement by the founder of Tingo International Holdings, Mmobuosi, noted that the project which costs $1.6bn would save Africa from paying foreign exchange to import finished food products.

He added that the initiative would aid the export of made in Africa foods to the world, enhance inter Africa trade via the Africa Continental Free Trade Agreement and sell high quality and nutritious food products in Nigeria.

Mmobuosi, an iconic tech guru is making the massive investment as a way of giving back to his birth place, Delta, as he has vowed to revolutionise the African Food Industry and create direct employement for the teeming youths in Nigeria by providing a significant boost to the Nigerian economy and contributing to the United Nations’ Sustainable Development Goals.

The statement said Africa’s farmers and agribusinesses could create a trillion-dollar food market by 2030 if they could expand their access to more capital, electricity, better technology and irrigated land to grow high-value nutritious foods.

It added that African governments could work closely with agribusinesses to feed the region’s fast-growing urban population, according to a new World Bank report.

The formal foundation laying of the project took place in Ishiekpe village Onicha-Ugbo, Aniocha North local government area of Delta State.

The factory is expected to begin operations in the next 18 to 24 months.

Mmobuosi noted that the facility was the first phase of a multi-billion dollar investment that Tingo International Holdings planned to make in the African food industry.

He said, “The company will decongest the labour market with the creation of no fewer than 12,000 direct employments with the setting up of its food processing facility in Delta State.”

The statement added that “iconic Dozy Mmobuosi is close to buying English Football League club Sheffield United at a £90m.

According to The Times, the 43-year-old who co-founded Tingo Mobile, an Agri-Fintech company that aims at helping African farmers, will be subject to the EFL’s Owners’ and Directors’ Test.

“Sheffield United have faced a great financial crisis but Mmobuosi who is valued at $7.6 billion can complete the acquisition of the club after making a larger deposit of the money.”