Niger Delta
Emu, Other Communities Join CBN’s Oil Palm Programme In Delta
Emu Kingdom in Ndokwa West Local Government Area of Delta State, has joined other 67 communities in the State to enroll in the Central Bank of Nigeria (CBN) oil palm plantation development initiative in the country.
The Secretary General, Delta State Commercial Oil Palm Plantation Growers Cooperative Society Limited (DELCOM COOP), Chief Felix Okonti, disclosed this when HRM, Johnson Ullu, EzeEmu of Emu Kingdom led his subjects to sign a Memorandum of Understanding (MoU) for the programme in Asaba.
According to Okonti, the MoU with Emu Kingdom brings the total number of participating communities to 68 across the state that have keyed into the CBN oil palm plantation programme in the country.
He said the communities would be allocating over 100,000 hectares of land for the programme which was a prerequisite of the CBN to enable each state harness the full potential of the programme.
He stated that the programme would be a win win for all participants, adding that the oil palm plantation ensures great returns on investment, particularly when the programme would be deploying the best and fast yielding varieties for cultivation.
Okonti noted that unlike the local variety of oil palm seedlings, 150 stands of improved seedlings per hectares has capacity to produce 48 tonnes to 60 tonnes of palm oil per hectare annually which guarantees great earnings after each harvest.
He said that every participating community or individual land owner, has three options; to sale the land, give it out on lease or participate in the venture and earn 22 per cent of the profit after tax as returns on investment annually.
According to Okonti, the programme is a partnership between the Delta State government (Ministry of Agriculture and Natural Resources), CBN, and Group of Investors.
“This is the first phase of the programme being anchored by the CBN and 14 states, including Delta that have been selected to benefit in this pilot stage.
”Also, each state is expected to provide 100, 000 hectares of land as the bank has earmarked N800 billion to finance the 1.4 million hectares.
“We missed the track during the advent of the crude oil money in the 70’s from being the leading producer of palm oil.
“But this MoU is looking back and if the country can actualise the target of cultivating 1.4 million hectares, Nigeria will regain its position as number one or at least number two in palm oil production in the world.
“It is regrettable that the CBN in 2018 budgeted about N500 billion to pay for products of oil palm produced imports, commodities that we have comparative advantage to produce in the country”, Okonti stated.
He further said of the total of about 76 million metric tonnes of worlds palm oil production, Malaysia produces about 37 per cent, while Nigeria produces only two per cent.
He thanked the monarch and people of Emu Kingdom for signing into the programme while encouraging individuals, groups and various communities to make lands available and key into the programme.
On his part, the Permanent Secretary, Ministry of Agriculture, Mr Ben Agamah, lauded the Emu Kingdom for their collective decision to participate in the programme.
According to him, oil palm is an endowed crop and palm oil is twice as expensive in the international market than the crude oil.
He urges more participation in the state to harness the potentials of jobs creation, wealth and economic development of the state and the country at large.
On his part, HRM, Johnson Ullu, EzeEmu of Emu Kingdom, who spoke through a Palace Chief, Chief Godday Mgbaego, said they were keying into partnership to cultivate about 93 hectares of land in the Emu Kingdom.
He thanked the State Government for giving them opportunity to participate in the programme.
The Tide’s source reports that the MoU is between Emu Kingdom and Group of Oil Palm Plantation Development Investors, who are all members of DELCOM COOP, for the acquisition of 93.7 hectares of land for oil palm plantation development in Emu Kingdom under the CBN Oil Palm Development initiative.
HRM Ullu, led the signatories of the MoU for the community, while Secretary General, Okonti, signed for DELCOM COOP.
News
China Alerts Rivers, A’Ibom, Abia Govs To Economic Triangle
The Mayor of Housing, My-ACE China, has alerted the Governor of Rivers, Akwa Ibom, and Abia states to what he calls an emerging ‘Economic Triangle’ within their states.
Mr China, a real estate success strategist who has won numerous local and international awards, has thus drawn the attention of the governors of the concerned states to the emerging development and has urged them to intentionally accelerate the emergence of the economic triangle.
Speaking to newsmen in Uyo, Akwa Ibom State capital at the conclusion of his business trip to the state, Mr China, who is the managing director of the Housing and Construction Mayor Limited, said the envisaged economic corridor would compete favourably with the Lagos economic hub or even better.
He said: “Talking about ‘Economic Triangle’, the only place that can wrest economic power from Lagos is Akwa Ibom, Abia, and Rivers states axis or corridor. This corridor contains more than Lagos has, if they can be interconnected with smooth roads, ports, and if their blue potentials are unlocked. They will not only wrest power from Lagos but would be more lucrative.”
The investor who is behind the emerging Alesa Highlands Green Smart City in Eleme, near Port Harcourt, said the new ‘Economic Triangle’ has a bigger potential due to massive land assets with the corridor plus blue economy and the existing hydrocarbon industry.
Explaining, Mayor of Housing said Aba (Abia State) provides the biggest fabrication capacity in West Africa to supply goods to the Gulf of Guinea; Port Harcourt provides access to the Gulf of Guinea for off-taking Aba products, and the Uyo provides deep sea port at Ibaka and international airport facilities as well as forest reserves for massive agro-economy.
He said with sea ports in Rivers State and deep seaport in Akwa Ibom, and international airports in Rivers and Akwa Ibom, Aba can focus on adequate power supply and fabrication boom to supply a new booming market around the economic triangle.
By doing this, he said, jobs would spill out in huge quantities and more manufacturers would be drawn from all over Africa to boost the fast coming African Continental Free Trade Agreement (AfCFTA). He said Nigeria would thus have two major trade nodes in West Africa; Lagos and the PH/UYO/Aba triangle.
He said goods going to or coming from Chad, Niger, and the rest of Central Africa can head to the Lagos ports or to the Ibaka/PH ports zone in the new economic triangle.
He said with power supply made stable, good roads, excellent security system, and ease of doing business enthroned in the zone, the South-South and South East would become the biggest economic nerve in the near future.
Mayor of Housing called on governors of the three states to be intentional about the new corridor, put away political differences (if any), and create this corridor by agreeing on projects each state would execute with a short period of time so the states would be linked by good roads, communication, security, trade laws, concessions to investors, etc.
He remarked that northerners were already heading to the Onne Port in Rivers State to export goods, saying creating a commission to oversee the development of the ‘Economic Triangle’ would fast-track its emergence.
He observed that people of the three states are peaceful and usually preoccupied with zeal for economic prosperity, saying that if they are linked to such huge opportunities staring at them in the emerging economic triangle, they would totally shun violence and focus on prosperity.
Mr China insisted that the emerging economic triangle would form a big node not only into the Gulf of Guinea economic zone but into Africa because AfCFTA is about production, certification, market availability, and easy transport nodes by sea and air. He said the new economic triangle boasts of all the factors.
“They can only realise this by working together, through collaboration. One state cannot do it but a triangle of the three will create it through seamless interconnection, ports, industrial park, etc. The people will be the richest and internally generated revenue (IGR) will be the biggest in the country,” he said.
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