Mr. Godwin Obaseki, Governor of Edo State, has stated that the state is ready to bridge at least a 20% supply gap in Nigeria’s oil palm market through investment inflows into the state through the Edo State Oil Palm Programme (ESOPP).
In an interview with Africa Report, the governor stated that the state government emphasised the development of oil palm plantations since it had a comparative edge in the cash crop due to years of hosting two enterprises listed on the Nigerian Stock Exchange, namely Okomu Plc and Presco Plc.
According to him, “One of my campaign promises was to create jobs. With my background as an investment banker, given the vagaries of the Nigerian economy, it was obvious that we needed to pursue diversification.
“With an increasing population, one way to diversify and create employment was to send out youths back to farm and ensure food security.”
He said the government is prioritizing agriculture by ensuring access to land and extension services in order to boost production, adding, “this led to the setting up of the Edo State Oil Palm Programme (ESOPP).”
According to him, “Nigeria has a supply gap of CPO and other products from oil palm. This has led to importation of these feedstock for many companies.
“There is a supply gap of about 650,000mt, which can be closed by cultivating about 350,000 hectares of oil palm plantation. In Edo, through ESOPP, we have already commenced cultivation of 70,000 hectares and will add another 20,000 hectares soon. That means we are closing the gap by 20 percent, with about 100,000 hectares.”
The governor also stated that the state is eager to share its experience in getting finance and increasing access to land with other states in order to strengthen local capacity to fill the gap and advance Nigeria’s economic diversification.