Enugu State Governor, Dr. Peter Mbah, has officially launched the revitalization of the Enugu United Palm Products Limited (EUPPL) in Ibite-Olo, Ezeagu LGA. The ceremony marked the implementation of the N100 billion agreement between the Enugu State Government and Pragmatic Palms Limited (PPL) in May. The event also included the groundbreaking for staff quarters at the plantation.
In his address, Governor Mbah expressed his gratitude to the people of Enugu State for embracing his vision and determination to revive and convert the state’s defunct assets into productive ones. He emphasized that the ceremony signifies a triumph of vision over cynicism, as the initial announcement of the N100 billion investment faced skepticism and criticism. However, the governor remained steadfast in his mission to transform Enugu State into a premier destination for investment, industry, tourism, business, and living.
Prof. George Nwangwu, the Managing Director/CEO of Pragmatic Palms Limited (PPL), outlined a five-year aggressive plan to position EUPPL as a leading integrated oil palm establishment in Nigeria. This plan includes expanding the planted area from 40% to at least 20,000 hectares in five years, setting up world-class oil mills, and increasing oil production capacity. PPL also aims to establish a strong presence in the retail market through an extensive network of agents.
The Commissioner for Trade, Investment, and Industry, Adaora Chukwu, highlighted the challenges faced by the original EUPPL, established in 1970, including mismanagement, outdated equipment, and limited market access. She emphasized that the N100 billion joint venture between the state government and PPL will lead to the revitalization of the company and bring numerous benefits to the state, such as job creation, economic diversification, infrastructural development, revenue generation, and technology innovation.
The Commissioner for Agriculture and Agro-Industrialisation, Patrick Ubru, emphasized the strategic importance of the partnership between the Enugu State Government and PPL in the overall vision for the agriculture sector.
The host communities praised Governor Mbah for reviving EUPPL after over four decades of dormancy and ruin. Johnmary Anagolu, a businessman and community leader from Olo, even pledged a donation of N50 million to support infrastructural development in the area.
Discover more from Tension News
Subscribe to get the latest posts sent to your email.