Edo: Oil palm Investment Attracts $531.2 Million

The Commissioner for Agriculture and Food Security in Edo State, Stephen Idehenre says the state oil palm programme has attracted about $531.2 million from nine firms in the oil palm sector.

Idehenre made this known during the inauguration of the year 2022 farming season and the FOARE Mushroom Production Centre in Benin.

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He says, the state oil palm programme was created to provide opportunities for large, medium and small investors in the oil palm sub-sector.

He added that 62,000 hectares of land had been allocated to investors under the programme.

“The programme is expected to create more than 200,000 jobs across the oil palm value chain and would add more than 1,000,000 metric tonnes to local production of oil palm by 2030.

“No fewer than 22,272 jobs were created from crop enterprise in 2021 while, the project activities in 2021 supported about 1,093 rice, cassava and catfish farmers.

“1,050 hectares of land was also developed for the farmers. This number will be scaled-up in the 2022 farming season”. he says .

According to him, Edo state is making steady progress in agriculture, which will lead to the sector serving as one of the major economic pillars for job creation and wealth creation.