Oil palm expansion with central bank of nigeria will create job opportunities, says odedina

Yanju Uwala in Abeokuta

The Ogun State Commissioner for Agriculture, Dr. Adeola Odedina, has said that the proposed collaboration between the state government and the Central Bank of Nigeria (CBN), towards Oil Palm expansion will create employment for youths, as well as enhance other opportunities.

Penpushing report that the Commissioner made this submission during the inspection tour of Lomiro Oil Palm Plantation in Ogun Waterside Local Government Area, where another oil palm processing mill is located, in company of delegates from Central Bank of Nigeria (CBN), maintained that oil palm is a huge employment generation sector.

“We are looking at ways of boosting oil palm production in the state. This is a huge employment generation venture, the value chain for employment generation is very high, it is one of the things we are going to be using in Ogun as value chain opportunities”

Penpushing further reports Odedina, added, that with Central Bank of Nigeria(CBN) intervention and government’s desire to boost oil palm production, interested farmers can also venture into any aspect of oil production which he noted has lots of economic advantage.

“Oil palm value chain is very wide and vital. That is why CBN has come to help in Ogun because we want this place to be a model for individuals and organizations. We also want our youths to establish oil palm estates such as this”, he added

The commissioner  eulogised the General Manager, Ogun State Agricultural Corporate (ADC), Femi Soremekun and the Estate Manager, Mr Ganiyu Omitogun for their foresight at replanting more palm trees in replacement of diminishing ones, and for raising a healthy nursery seedlings.

Penpushing also reports that the Head, Development Finance, Central Bank of Nigeria(CBN), Abeokuta Branch, Dr (Mrs) Oluyemisi Olukoya, in her remarks, expressed deep satisfaction at the rate of operations at the Estate.

The bank boss  said the apex bank was ready to make oil palm, a more flourishing business in Ogun State, through rehabilitation, replication and expansion.

“We are particularly impressed because we can see the entire Oil Palm value chain being represented and well established and on ground in this estate right from nursey, production, marketing as well as processing.

“We are also looking at its suitability for investment in the Oil Palm development initiative of the CBN because it is one of our focal commodity and we are also looking at collaborating​ with the state government in terms of rehabilitation and expansion of the Oil Palm business in Ogun State”, Olukoya disclosed.

Penpushing reports that, the Lomiro Oil Palm plantation, established in 1957, is sited on a 1,462 hectares of land with an average production capacity of 3,000 litres of palm oil per day and has over 200 staffers in its employ.