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Emefiele visits Wilmar plantation, restates partnership with NYSC

By on December 15, 2014

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, visited the PZ Wilmar Oil Palm Plantation in Calabar, Cross River State at the weekend as part of his schedule for the ongoing Bankers Committee Retreat 2014.

A statement explained that Emefiele extolled the effort of the joint venture project between PZ Industries and Wilmar Company Limited as being in tandem with the central bank’s commitment towards achieving inclusive growth through real sector financing.

The CBN governor expressed delight at the vast expanse of land estimated at about 5,594 hectares covered with palm trees.

He informed the PZ Wilmar officials that the apex bank was initiating an entrepreneurship programme with the National Youth Service Corps (NYSC), whereby members would go through a skill acquisition scheme and after which would be provided requisite finance to nurture the project into viable and rewarding business enterprise.

Emefiele promised to elicit the support of the deposit money banks and the government in providing the necessary assistance for the plantation. He also promised to put in place policies similar to rice substitution programme  and extend such to palm oil production such as the PZ Wilmar joint venture palm oil plantation project.

Speaking at the occasion, the Chairman of PZ Industries Limited, Chief Kola Jamodu, stated that the plantation started in 2010 with the aim of achieving 50,000 hectares of palm plantation by 2019/2020. According to him, the venture has realised 26,000 hectares. Jamodu said palm oil remains the largest globally consumed edible oil, noting that Asia was already saturated in terms of production potential. He added that Nigeria promises to become a global force and likely to regain the glory days of the 1960s given its vast landmass.

The visitors were conducted round to see the training school sited within the palm oil plantation aimed at inculcating relevant skills to the Nigerian people.

 

[ThisDay]