The management of Dufil Prima Foods led by its Chairman Haresh Aswani and Edo State Governor, , Godwin Obaseki met last week to finalize the takeoff of a palm plantation project following the acquisition by Dufil of 17,954 hectares of land in Edo State for the purpose of establishing an Oil Palm Plantation. This project initiated by Dufil aims to boost the Nigerian economy while fulfilling the raw material requirement for the Company’s backward integration programme.
Aswani, in a statement said that 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 creating employment opportunities for Nigerians. He stated that Dufil has helped to transform the manufacturing of Instant Noodles in Nigeria from the product of one Company to a Nigerian Industry creating over 100,000 direct and indirect jobs.
Aswani further stated that Nigeria has a great potential to increase production in the agro allied sector through the application of improved processing methods, creation of incentives for manufacturers in the Agro allied industry sector to embark on backward integration by investing in palm plantation and thereby sourcing their vegetable oil requirements locally. The Governor, Obaseki in same statement commended the Company for expressing interest in establishing palm oil plantation and sourcing of other raw materials in the Edo state.
He further noted that the project when completed will boost economic development in the State. He said that the CBN has created a Special Initiative Fund at lower interest rate for companies investing in palm plantations. He pledged the support of the Government and the people of Edo state and indeed his personal commitment to the project.
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.
Due to the constant shortage of palm oil for both domestic consumption and industrial usage, Dufil and other stakeholders are investing heavily in the cultivation of palm tree plantations that will revolutionize the palm oil industry in Nigeria.
Up until the 60s, Nigeria was the world’s largest producer of palm oil accounting for 43 percent of global palm oil production. However, it has lost its position to countries like Malaysia and Indonesia who produce about 83 percent of total world production of palm oil.
Daniel Obi
