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EDO: Investors have committed N100bn into our oil palm sector, says Obaseki

IN an effort to boost the economy of the state, Governor Godwin Obaseki has signed a Memorandum of Understanding worth about N100bn with seven oil palm investors under the Edo State Oil Palm Programme Investors Group.

The plan is to boost oil palm production and rejuvenate the sector for global competitiveness, according to a statement issued yesterday by the governor, in which he promised that his government would sustain reforms and policies to ensure an enabling environment for businesses to thrive.

The governor said, “We thank all of you for the interest you have in partnering us to fulfil our mandate under the ESOPP, designed to boost agricultural production in Edo State.

“This exercise today, which involves the signing of 45,000 hectares of land to seven companies for the purpose of cultivation of oil palm will make Edo one of the largest, if not the largest oil producing state in Nigeria. This is the first phase. And the second phase, which we hope will be concluded this year, will be about the same size of land.

“At the end of this programme, when our investors may have cultivated over 100,000 hectares, we will be providing over 200,000 jobs at a minimum.”

“Our focus is to ensure that Nigeria becomes self-sufficient in no distant time in palm oil production,” he said.

Some of the investors include Agroallied Resources Limited, Agripalm Limited, Saturn Farms Limited; Saro Oil Palm; Fayus Nigeria Limited and Farm Forte Agro Allied Limited.

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