Obaseki allots17,954 hectares for oil palm plantation
This will boost production in the agro-allied sector through the application of improved processing methods and bring development to the grassroots.
According to him, the domestic supply of palm oil could not match demand.
“It is essential to note that in recent years, the national demand for palm oil has grown faster than the domestic supply. Consequently, Nigeria imports a large volume of palm oil to satisfy local demand,” he said.
Noting that the Central Bank of Nigeria (CBN) has created a special initiative fund at lower interest rate for companies investing in oil palm plantation, he pledged government’s support to the project.
According to the chairman of Dufil Prima Foods, Mr. Haresh Aswani, the project will provide raw materials for the production of Indomie noodles, Power Oil (vegetable oil) and other products manufactured by the Dufil Group, as well as create employment opportunities for Nigerians.
Dufil has helped to transform the production of instant noodles in Nigeria from the product of one company to a Nigerian industry creating over 100,000 direct and indirect jobs, he added.
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