Edo State Government seeks massive Investment in Agricultural Sector

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The Government of Edo State, Southern Nigeria, has called for a massive investment in its agricultural sector, as it is de-risking investments in the oil palm value chain to close supply gaps.

The Edo State Governor, Mr. Godwin Obaseki, made the call at the 26th annual Stockbrokers’ Conference in Benin City, the state capital.

The theme of the conference was “Capital Market and Agricultural Development in Nigeria: Issues and the Way Forward.”

Governor Obaseki said that the Edo State Government developed the Edo State Oil Palm Programme (ESOPP) in collaboration with the Central Bank of Nigeria (CBN) to de-risk investment in the agriculture sector, especially the oil palm value chain, as a strategic move to boost foreign exchange in Nigeria.

 

 

Represented by the Edo State Government’s Head of Service, Mr. Anthony Okungbowa, Obaseki noted that stockbrokers play critical roles in the flow of investments into various sectors of the economy.

He maintained that the Nigerian economic growth was hinged on a vibrant private sector and supported by a thriving capital market.

“We are fortunate to have in our state the biggest publicly traded commercial agricultural companies, notably Okomu Oil Palm Plc and Presco Plc, both of which operate massive oil palm plantations in the state.

“These companies have grown exponentially, returning high dividends to investors in the last few years,” said Obaseki.

On his part, the President, Chartered Institute of Stockbrokers (CIS), Mr Oluwole Adeosun, commended the Edo State Government for hosting the event, while emphasizing the importance of the 2022 Stockbrokers’ Conference.

“2022 Annual Conference beams its searchlight on agriculture, exploring the nexus between the sector and the capital market as drivers of employment and economic growth, and proffering effective strategies to restore Nigeria to the path of double-digit growth in Gross Domestic Product (GDP) through agricultural development,” said the President, Chartered Institute of Stockbrokers (CIS).

 

 

Source: Agro Nigeria

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