Following the acquisition of 17,954 hectares of land from the Edo state government for Palm oil cultivation, Dufil Prima Foods Plc, makers of Indomie Noodles have embarked on a crop compensation payment for 1,628 farmers across 14 communities in Ovia North-East local government area of Edo state.
The payment exercise according to the Chief Operating Officer of Dufil Prima Foods Plc, Mr. Madhukar Khetan, commenced on Monday, April 8, 2019 and would continue for three weeks. The exercise he also said is being overseen by the Ministry of Agriculture.
According to Khetan, the project, which he described as laudable, would bring about massive investment to the region; create job opportunities for indigenes of Edo state as well as help cut the importation of oil palm.
He explained that the project marks a significant milestone in Dufil’s commitment to attaining a further backward integrated and self-sustaining system that supports the Nigerian economy by creating employment opportunities, reducing importation and doing so in a sustainable manner.
The crop compensation exercise which marks another achievement in the oil palm plantation project, he said, will include installation of an integrated palm oil mill.
“The move which crystallizes Dufil’s backward integration drive, particularly with respect to oil palm cultivation, is also in line with the federal government’s drive for increased activities and revenue from agriculture.”
“In addition to this crop compensation to farmers, the next step after the compensation exercise is Environmental Impact Assessment (EIA) as well as the Roundtable on Sustainable Palm Oil (RSPO) mandatory assessments and development of nursery,” he said.
He therefore commended Edo state government’s commitment to ensuring a sustainable venture.
It would be recalled that the governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele while speaking in a meeting with stakeholders in the Palm Oil Value Chain, noted that loans would be granted through the Anchor Borrowers’ Programme (ABP) and Commercial Agriculture Credit Scheme (CACS) at no more than nine percent interest per annum to identified core investors.
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