In a bid to revive Nigeria’s palm oil industry, PZ Cussons and Wilmar International are
working on a multi-billion palm produce investment that will be developed on
50, 000 hectares of land.
The investment which will cost over N100bn in the next few years
is also expected to create 12, 000 direct and 33, 000 indirect jobs at various
skills.
PZ and Wilmar’s partnership which started two years ago, is line
with Nigeria’s vision 2020. Their aim is to invest in new plantation and
refining facilities built to world class standards, and support the development
of local agriculture and industry.
Speaking at the PZ Cussons-Wilmar
editors’ parley in Lagos on Tuesday, an event also attended by the Managing
Director, Wilmar Limited, Mr. Santosh Pillai;
PZ Cussons’ Chief Executive Officer, Mr. Christos Giannopoulos, said ““The
refinery will process crude palm oil in the most hygienic way to fill the
significant demand gap in the Nigerian market. We are also developing a range
of branded healthy, authentic palm oil-based cooking ingredients to meet the
current needs of the Nigerian consumer. This gap is currently filled by
imported finished products smuggled into the country.”
He stated that PZ Wilmar has almost completed a refinery at the
cost of N10bn, and capable of processing 1, 000 tons per day.
Giannopoulos added that both companies are also working with the
Ministry of Agriculture and Natural Resources, Cross Rivers State to implement
a palm out-growers scheme, which would be promoted under the Cross River
Agriculture and Rural Empowerment Scheme.
“The aim is to develop a symbiotic arrangement between small
scale farmers and PZ Wilmar for the purpose of self-support and to enhance
local capacity through the transfer of world class technical skills to local
farmers,” he said.
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