Monday , July 13 2020

Dufil, Fayus lead other foreign investors to Edo oil palm programme launch Tuesday

BENIN CITY – Dufil Prima Foods Plc, makers of Indomie Noodles and California-based Fayus Inc., makers of the popular Ola Ola brand of instant yam flours, will be leading others in the long-list of international investors expected at the launch of the Edo State Oil Palm Programme (ESOPP), scheduled to take place tomorrow, Tuesday, December 17, at Protea Hotel, Benin City by 9:00 a.m.

According to a statement by Special Adviser to the Edo State Governor on Media and Communication Strategy, Mr. Crusoe Osagie, the N69bn intervention programme, is part of projects by the Godwin Obaseki-led government to expand the oil palm sector in the state for global competitiveness.

The programme, facilitated by the Edo State Government, the Central Bank of Nigeria (CBN) and the Plantation Owners Forum of Nigeria (POFON) will provide a platform to engage with stakeholders to chart a path grow the oil palm business.

Also, the two leading agribusiness companies listed on the Nigeria Stock Exchange market, Okomu and Presco will be at the high-stake event, which will further provide a platform for investors to tap into the palm oil rich heritage of Edo state.

Other investors expected at the ESOPP include Dangote Dansa Farms; Bruk Plantations Edo Limited; Saro Africa; FDGB Group (Malaysians); Ella Lakes Plc; Platform Capital; WACOT Limited; TGI Group; A and Hatman Ltd; Saturn Farms (Nosak Group); Agro allied Business (FMN); Farmforte Agro Allied Solutions and Masini Limited, among other domestic and international investors too numerous to mention.

Osagie added that the Obaseki-led administration is keen on diversifying the state’s economic base, with agriculture as a major lynch-pin, adding that the programme adds to the numerous other reforms implemented in the agriculture sector to boost food security.

He said, “The State Government in the last three years has pioneered projects that would redefine Edo State as an investors’ delight and we have closed a number of projects in this regard. The Edo State Oil Palm Programme (ESOPP) is the latest in the bag and the people of Edo State are happy about the incursion of investors to the state.

“We are specifically happy at the nature of this project because of its ability to boost commerce and drive investment. The unique feature of the programme is the ability to create a catalytic effect in the food, pharmaceutical, beauty and cosmetics sectors of the state, as these sectors utilize produce from the plantation as raw material for their products.”

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