OGUN STATE TO BENEFIT FROM CBN OIL PALM EXPANSION PROGRAMME

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The Central Bank of Nigeria (CBN), today, 6th March, 2020, named Ogun State as a beneficiary state in its Oil Palm Expansion Programme.

Leading a delegation from the apex Bank to the Ministry, the Head, Development Finance of the CBN, Dr. (Mrs.) Olukoya said in line with the Bank’s policy on the development of expansion of oil palm across the country, Ogun State aptly fits in into the plan.

Dr. (Mrs) Olukoya made a special request for the State’s plan on intervention modalities that would take care of applicants, investors and existing plantation owners in the State’s Anchor Borrowers Programme (ABP).

She added that Nigeria, most especially the South West States, have the capacity to make the CBN’s Oil Palm expansion programme initiative a reality; and Ogun State remains a focal state for this. She further maintained that there is the need to replace the aging Oil Palm plantations in the Country.

Speaking, Commissioner for Agriculture, Dr. Adeola Odedina said the CBN’s Oil Palm expansion programme was a good initiative, assuring that apart from the availability of large expanse of farmland for Oil Palm, the state will give all other support needed for the smooth take off of the programme, disclosing that Oil Palm expansion has been one of the major concern of the governor, Prince (Dr) Dapo Abiodun, MFR.

Corroborating the Commissioner’s position, Permanent Secretary in the Ministry, Dr. Dotun Sorunke, stated that Ogun state is very interested in improving its oil resources, assuring that appropriate planning to make the initiative work out efficiently will be deployed as obtained in the Apoje Oil Plantation as well as Lomiro Oil Palm project in the State.

Also present at the meeting was the Senior Special Assistant to the Governor on Agriculture, Dr. (Mrs.) Angel Adelaja-Kuye.

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