What is the ownership structure of Akwasol Nigeria Limited and how did the company come on stream?
The idea of setting up the company came about after the visit of a trade delegation from Barbados. After series of meetings with officials of the Akwa Ibom Industrial and Investment Promotion Council, AKIIPOC, I was formally invited alongside other Nigerian shareholders by AKIIPOC and the [state] Chamber of Commerce, to come on board. As we related with them, we told them that this was a novel product and asked to partner them and produce locally. Initially, the idea was to manufacture in Barbados and sell here but we insisted and AKIIPOC supported the idea because their focus was on industrialisation. We decided to put down the factory here and produce this thing locally and that was where we all decided to come up with an MOU, which led to the formation of a Special Purpose Vehicle. The result was the formation of a company called Akwasol Nigeria Limited. I recall that the name of the company of the man that led the trade delegation from Barbados is Aquasol Components Limited of Barb
