Multi-Billion Naira Farm UNDERWAY In Rivers …AS RSG, Israel Sign MoU

Rivers State Government, has finally signed a Memorandum of Understanding (MoU) with an Israeli-based firm, LR Group Limited for a multi-billion naira 2000-hectare farm in Etche Local Government.

Rt. Hon. Chibuike Rotimi Amaechi has reaffirmed his administration’s determination to make agriculture one of the mainstay of the state economy and rapidly develop an agro-based economy that would compete favourably with the oil industry in the state.

Speaking during the signing of a Memorandum of Understanding (MOU) yesterday at Government House, Port Harcourt, Governor Amaechi said the development was part of the effort by his administration to de-emphasise reliance on oil economy to an agro-based economy.

“I will continue to tell the State that we are investing in agriculture to create employment, and also to diversify our economy from just oil to also have an agricultural based economy”, Amaechi said.

From the onset of his administration, the Governor said he had pursued this vision hinged on three sectors of education, agriculture and Information Communication Technology (ICT).

“We have done some major development in the area of agriculture. We have the Banana Farm that is ongoing, now about 2,000 hectares. It’s an investment between us and a Mexican Company”.

“We have the Songhai farm which basically is a local attempt of taking the local means and ways of agriculture into the next level…”

He, however, said the Etche farm was another novel attempt by the state to build on its successes, since the facility would have an industrial processing plant.

The Governor expressed the hope that when it takes off, it would provide jobs for the people and further attract more investment opportunities for the State, adding that Nigeria’s huge population guarantees a ready large market for investors in the agricultural sector. We have a population of about 160 million and 40 to 50 per cent of products for feeding are imported, so, this is a large market for you if you want to invest”.

Amaechi congratulated the Attoney-General and Commissioner for Justice, Barrister Nwogu Boms and the Executive Dirtector of the Rivers State Sutainable Development Agency (RSSDA), Mr Noble Pepple for their efforts in securing the agreement.

Later, Director LR Group, Mr. Ami Lustig described the agreement signing as landmark, since, according to him, it marked the first investment the company was making in Nigeria.

He said the company was attracted to Rivers State due to the numerous recommendations made by people after consultations on where to invest in agriculture in Nigeria.

The LR Group chief noted that the governor’s claim that business opportunities abound in the country had been affirmed by the firm, saying , “I think our investment will lead to additional partners we have to invest in agriculture”.

The new farm settlement, he noted would be run on Israeli middle class farming system, assuring that it would lead to agro-based technology transfer to the State as well.

“I believe that the system would work”, Lustig said, “we can make middle class agriculture work in this country. So I am looking forward to the 300 villagers striving and working and taking it as a personal commitment”.

Rivers State Governor Rt. Hon. Chibuike Rotimi Amaechi (right) and Ami Lustig of Israeli firm, LR Group after they signed MoU to establish a multi-billion naira 2000-hectare farm, at Government House, Port Harcourt , yesterday.