The Anambra State Government anticipates that ongoing palm oil and coconut investment will generate more than N160 billion per year.
According to NAN, the Deputy Governor of the state, Dr Onyekachi Ibezim, made the announcement while inaugurating the 2023 Farming Season at Alex Ekwueme Square in Awka.
Ibezim, who represented the governor at the event, stated that one million palm seedlings and one million coconuts imported from Malaysia were expected to generate cash.
“We started importing one million palm oil seedlings and one million coconuts from Malaysia last year; these species have a three years maturity period.
“When this investment fully matures, the off-takers will be processing the fruits of these plants, and over N160 billion will be yearly income from this window”, he said.
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