Delta State seeks investments in Oil Palm Value Chain, as Okwuehi confirms policy readiness

The Governor of Delta State, Ifeanyi Okowa, has called for more investments in the state’s oil palm value chain to create job opportunities and economic development.

He made the statement after inspecting an Oil Palm Plantation and Refinery under construction at Akwukwu-Igbo, Oshimili North Local Government Area of the state. The Governor also canvassed more investments in agricultural development initiatives to curb rising food insufficiency in the country.

“Four years ago, the management of Norsworthy Farms spoke to me when they were to commence, and I thought it a worthy venture to have the state government stay supportive and in partnership with them to develop this oil palm plantation, now with a mill already being installed”, he said. “Where we are now is quite interesting because we have had the opportunity to go around the one thousand four hundred hectares of land planted with oil palm seedlings that have grown so much; some are already producing”.

“As a state government, we believe in this worthy partnership because, beyond the fact that it will help to grow the economy of this environment and also help the immediate communities that are around here, we are very mindful of the fact that it is going to generate a lot of employment for our people.

“I have been told that on the average, 300 persons are working on a daily basis in this place and I believe that when the mill comes on stream, we are going to have more persons engaged,” said Governor Okowa.

He assured that the partnership would create more opportunities for out-growers, especially in the oil palm development value chain, while urging indigenes of the state to leverage the opportunity to improve livelihoods.

Speaking on the development, the Senior Special Assistant to the Governor on Special Duties, Okwuehi Ogboi, emphasised the commitment of the state government to diversifying the economy by identifying and leveraging existing strengths, attracting businesses and industries that align with its capabilities and resources, and expanding the state’s economic activities and sectors.

“The global palm oil market is a $7 billion industry, with extensive opportunities for local stakeholders to participate in international trade and export activities”, he said. “We have introduced programs and policies to make the process easier, and we have the resources to provide the necessary for investors ready to leverage the opportunities available in the market and respond to the rising demand in the marketplace”.

From being the world’s leading producer and exporter of palm oil in the 1960s, Nigeria has fallen to being a net importer to meet the growing domestic demand. The household primarily drives demand consumers who prefer to consume technical palm oil (TPO) because of its flavour profile. Though domestic production is nearly 900,000 tons, Nigeria has an estimated overall gap of between 150 and 300,000 tons of TPO.