In Osun State govt says its share of garment factory is only 14 percent

Alagbada revealed that government’s only contribution to the company was land, which secured for it, a 14 percent stake.

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Investments In Osun - Omoluabi Garments Factory

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Osun State says it owns just 14 percent equity in Omoluabi Garment Factory, located along Gbongan Osogbo road, Ede.

Jayeoba Alagbada, a former commissioner for Commerce, Co-Op & Empowerment, made the disclosure.

Alagbada is a commissioner-nominee in the State.

His screening held at the State House of Assembly on Tuesday.

Recall that a certain highly placed person in government was rumoured to own the garment making company using Sam & Sara Factory Limited as front.

But revealing the true status of government's stake in the company, Alagbada revealed that government’s only contribution to the company was land, which secured for it, a 14 percent stake.

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“Our only contribution to the company is land, nothing more,” Alagbada stated.

Explaining the role of the company in driving the O’Uniform policy, the commissioner-nominee stated that the state government acted as an off-taker for 750,000 school uniforms which was distributed for free to students across the state.

The arrangement ensured the building of the biggest garment factory in West Africa in the State of Osun.

Alagbada also said that the company has since moved beyond school uniform making in Osun.

“Omoluabi Garment Factory is a thriving Private Public Business Partnership between the government of the state of Osun and Sam & Sara Garments Limited. The company now produces uniforms for the Nigerian Military, Guarantee Trust Bank (GTB), Lagos Internal Revenue Service (LIRS), among several others.” Alagbada stated.

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