In order to reduce the high demand for foreign exchange as a result of huge importation of food items into the country, the Federal Government has reaffirmed its commitment to support the sustainable local production of agricultural products in the country.
The Minister of Agriculture and Rural Development, Chief Audu Ogbeh said this during a meeting with the management team of PZ-Wilmar Company Limited led by its Chairman, Chief Kola Jamodu in his office.
Chief Ogbeh decried the high demand for foreign exchange in the country which he put at 1.5 billion dollar per week as a result of high importation of food items into the country. He said the present administration was working on reforms and initiatives in ensuring that governments at all levels support local production of agricultural products.
The minister said the Ministry would collaborate with the Ministries of Finance and Industry, Trade and Investments to brainstorm on the challenges militating against local production of food items due to the Free Trade Zone policy.
He commended the delegation for their efforts in wealth and job creation through the local production of palm oil in the country. He charged them on the need to evolve measures that would expand the operations of out growers in the industry.
The Minister maintained that the focus of the present administration was to increase local production of agricultural products in order to achieve food sufficiency and boost the Nigerian economy. He thanked the delegation for their visit and assured them of the ministry’s support.
Earlier in his remarks, the Chairman, PZ-Wilmar Company Limited and leader of the delegation, Chief Kola Jamodu said his team was in the ministry to seek for more support and cooperation for their investments in the nation’s agricultural sector.
He solicited for the support of the ministry in area of Nigeria’s backward Integration Policy which he said should apply to Palm oil production because of its economic potentials to the country. He called on the government to review the Free Trade Zone Policy which had negatively affected the backward integration policy of the government.
In his presentation, the Chief Executive Officer, PZ- Wilmar Company Limited, Christos Ginnopoulos said PZ Wilmar which was established in 2010 as a joint venture between two international businesses with connections in Nigeria.
Mr. Ginnopoulos said the company was committed to building a sustainable future for palm oil in Nigeria and support the government’s Agricultural Transformation Agenda (ATA).
He explained that PZ -Wilmar which launched the production of Mamador oil of Devon Kings in 2013 had acquired 26,000 hectares of land for palm oil plantations in Cross River state. The Chief Executive Officer added that the company would invest a total of US650 million dollar foreign direct investment on the development of sustainable palm oil in Nigeria out of which US165 million dollar had been expended so far on the project.
Mr. Christos noted that his company had set up measures to protect the host communities by developing critical infrastructure such as roads, access to drinking water, funding community projects, payment of royalties among others. He added that his company had also set up palm oil mills across all estates of their operations for the use of the company and small holders /out growers in the oil palm industry, and also urged the government to implement more policies that would create a favourable environment for their businesses to thrive.
Culled from Peoples Daily.
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