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In the quest to diversify the state’s economy as well as that of Nigeria in general, Governor Godwin Obaseki of Edo state has explained how oil palm is becoming Nigeria’s new crude oil and the key driver for economic development.

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“A committee of experts, who will be drawn from Okomu, Presco Plc.(an integrated oil palm production company), the Nigeria Institute for Oil Palm Research (NIFOR) and other stakeholders, will be set up to ensure that we get it right.“We will ensure that the soil and weather data is made available for this purpose and we will also approach the agricultural financing programmes of the Central Bank of Nigeria (CBN),” the governor said.Commending the efforts of the Obaseki-administration to industrialise the state via investments in the agricultural sector, Chairman of the committee, Dr Toni Ogunbor said that the committee recommended four key issues in the report, which needed to be addressed to ensure the viability of the project.

The issues listed are; land development, which would require satellite imaging to capture all elements in the land, and the need to develop oil palm estates.Others are the ease of doing business in the state via the provision of adequate security and necessary infrastructure as well as the need to have data on soil and weather conditions.Ogunbor urged the governor to carry the members of the committee along in the oil palm project implementation processes.Meanwhile, an indigenous oil palm company operating in three local government areas of Edo State, the Okomu Oil Palm Company Plc, has commissioned 27 projects in communities in the three councils.



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