The Governor of Edo State, Godwin Obaseki, has disclosed the intention of the state to double down its oil palm production efforts.
According to Obaseki, who shared this with journalists in Benin City, Edo State capital, the oil palm economy could attract more than $20 billion annually for Nigeria.
He said that the state government would support investors by making available land and a “business-friendly environment” to boost investment.
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He said, “The Nigerian oil palm economy has the capability of earning over $20 billion for our country yearly just for cultivation and production.
“This is why in Edo State, we have taken the bold step of increasing the production of oil palm by supporting investors through the provision of land and a peaceful, secure and business friendly environment to boost their investment.”
He added that to “effectively and efficiently encourage investors, the state launched the Edo State Oil Palm Programme (ESOPP) in partnership with other private sector stakeholders including the Central Bank of Nigeria (CBN).
“Under the programme, the CBN committed about N69 billion to support investors who invested in oil palm in Edo State, in line with the federal government’s determination to diversify the economy.”
