Anambra targets N160bn revenue from palm oil, coconut annually
Ibezim, who represented the governor at the event, said the anticipated revenue was from one million palm seedlings and one million coconuts being imported from Malaysia.
The Anambra State Government says it hopes to rake in more than N160 billion a year from ongoing palm oil and coconut investments.
Dr. Onyekachi Ibezim, Deputy Governor of the state, made this known while inaugurating the 2023 farming season at Alex Ekwueme Square in Awka.
Ibezim, who represented the governor at the event, said the anticipated revenue was from one million palm seedlings and one million coconuts being imported from Malaysia.
“We started the importation of one million palm oil seedlings and one million coconut seedlings from Malaysia last year; these species have a three-year maturity period.
“When this investment fully matures, the off-takers will be processing the fruits of these plants, and over N160 billion will be the yearly income from this window”, he said.
Ibezim also said there is a plan for the irrigation of10,000 hectares of land for rice farming at Ifite Ogwari Community, Ayamelum Local Government Area.
He said that agriculture has the potential to create not only wealth but also employment opportunities for thousands of people.
Ibezim said it was because of the abundance of opportunities in the sector that the government listed it among the priority areas of investment in the 50-year development plan of the state.
He called on farmers to show commitment in the sector, as the government will always support them in their activities.
Also speaking, Dr. Foster Ihejiofor,the Commissioner for Agriculture, said the state is currently promoting “biological farming," which according to him is nature’s sustainability solution.
“As we all know, farming is not about producing food; it is about preserving our environment and ensuring the sustainability of our food system.
“Biological farming, aka zero budget, carbon farming, or regen-Ag, launched in 2022 by Gov. Chukwuma Soludo, is a sustainable agricultural system”, he said.
Ihejiofor urged farmers to embrace the new farming system, saying ”biological farming is not just environmentally friendly; it is also economically beneficial to farmers as it reduces the cost of inputs while improving soil health, plant health, and nutrients, among others.
The event was attended by farmers from the 21 local government areas and tertiary institutions within the state.