Dufil Prima Foods Plc, makers of Indomie Noodles, has embarked on a crop compensation payment for 1,628 farmers across 14 communities in Ovia North East local government area of Edo state.
The action was sequel to the company’s acquisition of 17,954 hectares of land from the Edo state government for Palm oil cultivation
The payment exercise, which is being overseen by the Ministry of Agriculture in the state, commenced on Monday 8th April and is expected to continue for another 3 weeks
Chief Operating Officer, Dufil Prima Foods Plc, Mr. Madhukar Khetan, explained that the project marks another significant milestone in Dufil’s commitment to attaining a further backward integrated and self-sustaining system that supports the Nigerian economy by creating employment opportunities, reducing importation and doing so in a sustainable manner.
He added that crop compensation exercise which is being carried out marks another achievement in the oil palm plantation project which will include installation of an integrated palm oil mill.
‘In addition to this crop compensation to farmers, Dufil’s commitment to the project is worth billions of Naira.’ Khetan said. He added that the next step after the compensation exercise is Environmental Impact Assessment (EIA) as well as the Roundtable on Sustainable Palm Oil (RSPO) mandatory assessments and development of nursery. He also commended Edo state’s commitment to ensuring a sustainable venture.
Recently, the CBN Governor, Mr. Godwin Emefiele, unveiled strategies while speaking during a meeting with stakeholders in the Palm Oil Value Chain. He noted that loans would be granted through the Anchor Borrowers’ Programme (ABP) and Commercial Agriculture Credit Scheme (CACS) at no more than nine per cent per annum to identify core investors.
Source: Independent Newspaper