Nigeria: Edo to Access $250m for Oil Palm, Cassava Value Chain
The Edo State governor, Godwin Obaseki, has disclosed that the state will benefit from a United States government’s $250 million for oil palm and cassava value chain development, special agro-processing zones and renewable energy infrastructure.
Obaseki said this at the Fayus oil palm plantation expansion ribbon-cutting ceremony in Ewan Usi community, Uhunmwonde Local Government Area of the state.
He promised a conducive environment for investors in the state as part of concerted efforts to diversify the state’s economy and provide jobs for the teeming youths.
Represented by the head of service, Anthony Okungbowa, the governor said the state was keen on providing necessary incentives to investors in the oil palm and cassava value chain.
He added that the state government had set up the Edo State Oil Palm Programme (ESOPP) to create the necessary interface to harness its arable land in driving economic activity and creating wealth.
Also speaking, the chairman of Fayus Nigeria Limited and Fayus Inc, Sacramento, California, Fatai Yusufu, said the company had invested in oil palm plantation, milling, refinery and cassava processing facilities in the state.
According to him, the company has an oil palm nursery and plantation expansion plan in Ewan Usi community and an oil palm plantation project in Owan West Local Government Area, with financing support from the United States government.
On his part, Dr Tunji Bello of Shine Bridge Global Inc, Chesapeake, Virginia, said a $250million facility was driving the investment in Edo, adding that the investment would improve the livelihood of people in the state.
By Daily Trust.
