Stephen Ukandu, Umuahia
Abia State Government and an oil palm investor, Nimbel Shaw, have signed a Memorandum of Understanding (MoU), for a $120 oil deal.
The MoU was signed when the Director of the company, Mr Hekeem Bello-Osagie, led a delegation of the management to Governor Alex Otti.
Nimbel Shaw is an Oil Palm Company based in Nigeria but is in partnership with PHC (Plantations et Huileries du Congo), which is the largest palm plantation in the Democratic Republic of Congo.
The delegation visited some palm plantations in the state including the Ohambele Palm Plantation and Ulonna Farm Settlement to explore their investment options in the Oil Palm value chain.
Chief Press Secretary to the Governor, Mr Ukoha Njoku Ukoha, in a statement, said the move is part of the Governor’s efforts to rebuild Abia economy through agriculture.
The statement said the efforts of the Governor to make Abia a preferred destination for investors, were yielding results.
It said that the move, when realised, would not only help to shore up the internally generated revenue of the state but help provide job opportunities for the youths and ultimately help in bringing down crime wave.
Abia, the home state of the late Premier of the defunct Eastern Region, Dr Michael Okpara, is one of the leading producers of palm oil in Nigeria.
The late Okpara under whose watch, the Old Eastern region was adjudged the fastest-growing economy in the world, was reputed for his green revolution resulting to palm, cashew and cocoa plantations across many states in the region.
