The Edo State Government has forged a strategic partnership with Sunora Foods to enhance palm oil production in the region.

This collaboration is expected to result in a substantial investment of $100 million and the creation of 25,000 job opportunities within the state.

Governor Godwin Obaseki, during the signing of the Memorandum of Understanding, extended his congratulations to the management of Sunora Foods for choosing to invest in the state.

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He assured the state government’s unwavering support for the company, emphasizing the administration’s commitment to facilitating meaningful investments, particularly in agro-based enterprises.

Governor Obaseki remarked, “We want to congratulate the management of Sunora Foods after the discussion culminated in the signing of the Memorandum of Understanding with our government.

As a government, we are very supportive of entrepreneurs who want to undertake meaningful investment in our state, particularly in agro-based businesses.

This is not the first time we have supported business groups that have affiliations with our state.”

Charles Eghobamien, the President and Chief Executive Officer of Sunora Foods, unveiled the company’s ambitious plans, stating that the project encompasses various aspects.

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The project aims to cultivate 15,000 hectares of land in the next five years, establish crush facilities for soybeans and other seed oil crops, set up a 12,000-ton-per-day edible oil refinery, introduce a 15,000 bottle-per-hour bottling facility, and initiate an animal feed processing unit.

This comprehensive approach is anticipated to generate 10,000 direct jobs and 15,000 indirect employment opportunities.

Eghobamien elaborated, “We are ready to start planting in January 2024 as soon as we get the land concession. Currently, Edo State has one major palm oil refinery, Presco Oil Plc.

So, this will be a step in the right direction to bridge the gap in the palm oil refinery, particularly in the state.

Edo State has a lot of palm oil plantations, and it makes sense to take advantage of this opportunity to meet local, regional, and international markets.

Right now, we are attracting foreign direct investment of over $100 million into this venture.”

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Anita Eribo, the acting Managing Director of Edo State Skills Development Agency (Edojobs), highlighted the role of the Canadian High Commission in facilitating the connection with Sunora Foods.

She underscored the significance of the jobs that will be created, emphasizing their potential benefits for the people of Edo State.