Home » Africa: Anambra State hopes to earn N160bn revenue from palm oil, coconut investment in Nigeria

Africa: Anambra State hopes to earn N160bn revenue from palm oil, coconut investment in Nigeria

by Atqnews
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Anambra State

As the raining seasons gradually sets in, the Anambra State Government is hoping to rake in more than N160 billion yearly from ongoing palm oil and coconut investment in the country.

According to a report by NAN, published by dailypost.ng, the Deputy Governor of the state, Dr Onyekachi Ibezim, made this known while inaugurating the 2023 Farming Season at Alex Ekwueme Square Awka.

READ: Africa: Nigerian Civil Aviation Authority (NCAA) Grants Anambra State Govt, Approval To Operate Boing 737-700 Aircraft At New Airport

Ibezim, who represented the governor at the event, said the anticipated revenue was from one million palm seedlings and one million coconuts being imported from Malaysia.
“We started importing one million palm oil seedlings and one million coconuts from Malaysia last year; these species have a three years maturity period.

“When this investment fully matures, the off-takers will be processing the fruits of these plants, and over N160 billion will be yearly income from this window”, he said.

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