CBN PARTNERS OGUN STATE GOVERNMENT IN MASSIVE PALM OIL PRODUCTION

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NoThe ongoing agricultural revolution in Ogun State has received a boost as the Central Bank of Nigeria, (CBN), is ready to partner the Ogun State government towards the massive production of palm oil to improve on its economy

The Commissioner in charge of ministry of Agriculture, Dr Adeola Odedina made this known on Thursday during the inspection of Lomiro palm oil processing Mill with the officials of the Central Bank of Nigeria, CBN at Ogun water side local government .

According to him, the lomiro processing mill which was established in 1957 would serve as an avenue to increase the state Internally Generated Revenue (IGR) and provide employment for the youths if well utilised

The Commissioner explained that with the intervention provided by the apex bank to rebuild the oil mill, the state would bounce back as one of the largest palm oil producers in the country

The mill according to him which occupied 1,462 hectares of land has the capacity to produce a minimum of 3,000 litres of palm oil per day that can be increased if all the existing abundant opportunities in the oil mill are properly put into use

While calling on both local and foreign investors to partner the Governor Dapo Abiodun- led administration in revamping the agricultural sector as a means of youth empowerment and state development,he informed that government has put in place workable policies and programmes that would help investors to get a bountiful harvest in return for their investment

In an address, the head, Development Finance Office, CBN, Abeokuta, Mrs Oluyemisi Olukoya promised that the apex bank would assist the state government in ensuring that the oil mill are put to proper use in line with the determination of the current administration in running the affairs of the state through Public Private Partnership, PPP, initiative.


 

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