Gov. Ajimobi In N500 Million Breach Of Contract Mess! … Details Of How Olateru-Olagbegi Drags Him To Court For Damages

Dateline April 9 2010, the Oyo State government, headed by former governor Adebayo AlaoAkala, entered into a memorandum of understanding (MOU) for the establishment of a waste organic fertilizer/Energy and recycling plant for the development of 860 megawatt Electricity and production of 250 tonnes of organic fertilizer with Mogoke Ventures.
The first phase of the plant which was supposed to generate full employment for at least 700 Nigerians has been thrown to the dustbin going by the refusal of the Ajimobi-led government of Oyo State to honour the terms of the MOU which was duly signed with the state government.
Prince Adegoke Olateru-Olagbegi, Mogoke’s managing director, explained how the deal was struck in a statement on oath he deposed to at the High Court, Ibadan. It states in part: “Our proposal to partner with the Oyo State Government on the project was accepted. This led to the execution of the MoU dated April 9, 2010. Under the agreement, the Waste Recycling and Fertilizer Company Ltd (WRFC), was jointly incorporated.
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