Pet Agro Farms, an agro-based firm said it will establish a processing factory worth N150 million in Kogi State to boost vegetable oil production in the country.
The farm’s Managing Director, Ms Rehab Danladi who stated this in a chat with reporters in Abuja, said the farm, which is a private sector-driven project, will boost the production of palm and vegetable oil for exports.
Danladi noted that the farm, which will be producing palm oil, palm kernel, and soya oil, among others will also convert waste from the products to poultry feeds.
According to her, 80 per cent of the oil produced will be for export, while 20 per cent will be for the local market.
She said: “There is a need for us to engage in backward integration now. Enough is enough for import.
“We will process and export 80 per cent, while 20 per cent will be for the local market. The waste of these products from palm kernel, soya bean and others can be converted to poultry feed.
“The initiative will contribute to the country’s agricultural industry and provide employment opportunities to Nigerians. It will also ensure sustainable wealth creation through farming and training on how to embark on a wise investment.”
Credit: The Nation