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FG To Support Okomu $75bn Oil Mill, Plantation Investment Expansion

Over the weekend, the Federal Government announced its plans to provide support to Okomu Oil Palm Company PLC to enable it achieve its planned structured investment of $75 billion to cover mill and plantation expansion of the company in the next four years.

According to Dr. Akinwumi Adesina, Minister of Agriculture and Rural Development, who disclosed this in Okomu, Edo State, the ministry has started discussions with Monitor Delloitte to clearly articulate the way forward in providing the much needed support for the company”.

He further disclosed that the ministry would work towards partnering Okomu Oil Palm Company Plc and other stakeholders to determine the feasibility of establishing a Staple Crop Processing Zone in Edo State and also to engage some partners to support mechanization, infrastructure and other agri-business needs of such a zone.

Adesina added that the Federal and Edo State Governments are  jointly working together to promote the production of oil palm in the state through the initiation of elaborate policies and careful implementation of the oil palm value chains activities.

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