CBN’s N69bn investment in Edo oil palm sector excites farmers

Our Reporter

With the commitment of about N69 billion by the Central Bank of Nigeria (CBN) for the Edo State Oil Palm Programme (ESOPP), smallholder farmers in the state have applauded the Governor Godwin Obaseki-led administration for creating the right environment to attract the investment.

A cross section of the farmers, who spoke to journalists, in Benin City, the Edo State capital, said the investment would revolutionalise the oil palm sector in the state which will have a spiral effect on other aspects of the economy.

Mrs. Esosa Igbinoba, a farmer in Okada axis of the state, said the investment would allow a number of the plantation owners expand their hectarage and processing capacity, which will have positive effect on smallholder farmers in the axis.

Read Also: FG begins environmental, social impact assessment of Edo oil palm estate

According to her, “We were excited when we heard that the CBN will be committing billions of naira for the development of the oil palm…

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