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Soludo inaugurates export-based seeds processing plant in Anambra

By Uzoma Nzeagwu, Awka
24 February 2023   |   2:00 am
The Anambra State Governor, Prof Chukwuma Soludo has inaugurated Panac Industries Limited, as part of moves to boost activities in the export sector for improved revenue generation.

Chukwuma Soludo

The Anambra State Governor, Prof Chukwuma Soludo has inaugurated Panac Industries Limited, as part of moves to boost activities in the export sector for improved revenue generation.

During the launch of the company at Mgbawa, Ogbunike, in Oyi Local Council, Soludo said the plant; the first of its kind in the South East region is an addition to the industrialisation drive of Anambra.

Represented by the commissioner for Industries, Mr. Obinna Ngonadi, the governor, who commended the Managing Director of the firm, Mr. Chinedu Aniagboso, for blazing the trail in the seed-processing subsector, charged entrepreneurs across the country to invest in Anambra, as the state is opened to investors.

Accompanied by the Special Adviser to Soludo on Commerce and Industry, Mr. Eloka Mmaduekwe, Ngonadi said the current administration is determined to support activities in the export sector, adding that it has already commenced the creation of an export emporium where all export bound products would be showcased, standardised, branded and containerised.

He said, “This is a great initiative, exporting processed agro produce is a huge addition to the industrialisation efforts of Anambra including its employment and revenue benefits.

“We are going to support businesses like this, already we have started building an export emporium on a 40 hectare land. That facility will be a standardised point for all Anambra export brands.” 

Earlier in his remark, Aniagboso said the company was set up with a view to adding value to Nigeria’s agricultural produce, adding that it is an export-based seeds processing plant in the state.

According to him, the initiative was borne out years of business opportunities research, both within and outside the country.He said the plant, which has a combined capacity of 60 metric tonnes, processes sesame seeds, soya bean seeds and sorghum for export.

He commended the state government for providing the environment, appealing for the provision of basic infrastructure and institutional support for young entrepreneurs.

In his remarks, the Director General of Onitsha Business School, Prof. Segun Sogbesan, said the only way Nigeria could improve her balance of trade was to encourage export of value added products, insisting that Nigeria should move from exporting primary products to processing to earn foreign exchange.

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