• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, June 6, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

Foreign firm targets investment in oil palm, cashew processing

Oil palm

The Matters Press by The Matters Press
August 11, 2022
Reading Time: 2 mins read
0
Buhari moves against palm oil importers

Palm oil

Pet Agro Farms,a Nigerian-based foreign firm, says plans are on to invest about N150 million in Nigeria via production and processing of oil palm, cashew, and other agricultural production .

RELATED POSTS

Nigeria’s 3MTT gets boost as EU, World Bank back initiative

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

The agro-firm said the initiative had become imperative in order to target the foreign market and earn forex into the country during the ongoing forex crisis in the country.

Ms Rehab Danladi, Director, Pet Agro Farm, said on Wednesday in Abuja that the farm was looking to start up with 40 plots of land in Kogi.

“We are already working closely with the Bank of Industry for the local market production while talks are already ongoing with the NEXIM Bank to finance export .

“There is need for us to go to backward integration now, enough is enough for import,while we process , 80 per cent will be going into the export market, while 20 per cent will be for the local market.” she explained.

According to the Director, it’s all about value-chain, as even wastes from these products from palm kernel, soya bean and others can be converted to poultry feeds that will also boost poultry Farming

Ms Dalandi said the investment would help Nigeria to reclaim its position as a leading global palm oil and cashew producer.

“Currently, the total production of raw cashew in Nigeria is about 1.4 million metric tons annually, which is far from the country’s potentials of over 10 million tons.

“The initiative she said, will contribute to the country’s agricultural industry and provide employment opportunities to the Nigerian youths’ while ensuring sustainable wealth creation through farming and education on good investment,” Ms Dalandi said.

She added that the firm would be buying seedlings from the farmers and would also provide hybrid seeds to help farmers scale up their productivity.

Nigeria is the 7th largest producer of palm kernel and palm oil in high demand globally but can only get FOREX for Nigeria if maximally harnessed and exported.

Tags: Oil palm
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021
Economy/Technology

Nigeria’s 3MTT gets boost as EU, World Bank back initiative

June 6, 2025
Energy

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

June 4, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Next Post
Oando vows to challenge SEC’s ruling on audit

Shareholders reinforce confidence in Oando management

Nigeria suspends mining in Zamfara

Illegal mining irks South Africa lawmakers

Recommended Stories

Maritime sector critical to economic growth — Shippers

Maritime and Offshore Award introduces summit to address challenges

September 8, 2023

Abuja manholes pose danger

May 9, 2019
3,000 manufacturers to attend global fair on industrial solution in Lagos

Nigeria supports local manufacturers with N75bn in 2024

October 4, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Nigeria’s 3MTT gets boost as EU, World Bank back initiative
  • PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF
  • FCT ground rent!: Check your name if you own property

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us