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CBN Visits Agro-Allied Resources Plantation in Edo State

The Central Bank of Nigeria (CBN), led by its governor, Godwin Emefiele, paid a courtesy visit to the Agro-Allied Resources & Processing Nigeria Limited (ARPN) in Edo State.

The CBN team was received by the MD/CEO of Agro-Allied Resources & Processing Nigeria Limited (ARPN), Mr Madhukar Khetan, who thanked the CBN team for the visit to the ARPN plantation in Ovia Northeast LGA of Edo State.

Khetan thanked the CBN for its support in the development of ARPN’s oil palm project since its inception. He also extended his gratitude to the Governor of Edo State, Godwin Obaseki, for allocating c.12,000 hectares of land for agricultural-related activities and providing a conducive environment for the company to operate in.

The CBN Governor further stated that there are many agricultural programmes implemented by the Federal Government under the leadership of President Muhammadu Buhari in the past 6 years. Mr Emefiele recalled the pronouncement made by President Buhari when he said, “We produce what we eat and eat what we produce”.

Emefiele expressed satisfaction with the level of progress made in the oil palm development project, which ARPN embarked upon in the year 2019. According to him “I wonder how the country could have coped with the rising cost of food and commodities across the world without the foresight to revamp the agricultural sector.”

While acknowledging the significant role played by Edo State Government and Governor Godwin Obaseki, the CBN Governor appealed to other states to emulate Edo State, which has made available about 70 per cent of the arable land for agricultural investment. During the assessment of the farm, Mr Emefiele attested to the giant strides already recorded in the cultivation of oil palm.

In addition to oil palm, ARPN commenced the cultivation of cassava and maize at the site to promote agriculture. Khetan expressed optimism that in the next 12 months, the company will start harvesting the output from the palm. He stated that in terms of sustainability ARPN has started a positive journey that will be difficult to reverse.

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