The Executive Chairman of Industrial Development Holding, South Africa, Mr. Mxolesi Mbetse, made the disclosure when he paid a courtesy visit to Governor Adams Oshiomhole at the Government House in Benin City Tuesday.
He explained that the motive behind the investment was to completely eliminate the importation of palm oil to ensure that Nigeria becomes the next exporter of not only palm oil, sugar and ethanol.
“What we want to do in Edo State is that in the next five to 10 years we want to completely eliminate the importation of palm oil to ensure that Nigeria becomes the next exporter of not only palm oil, sugar and ethanol,” he stressed, adding “I was in Brazil and was amazed at the way they used technology to produce ethanol where today Brazil produces billions of ethanol.”Mbetse told the governor that from his findings, Edo State was well-endowed with abundant agriculture and natural resources that could sustain industrialisation and industrial growth, not only in the state and the geo-political zone but the entire country.
He said the state’s raw material potential and the infrastructure already put in place by the government attracted his business conglomerate to come and cite a refinery that would produce and process ethanol using palm-oil and sugar-cane.
Responding, Governor Oshiomhole said the state government was clear on its plan to improve the GDP of people in the state, saying putting infrastructure in place without attracting the right investors would yield very little.
“We are clear that our responsibility is to encourage business that are pro-people that give the people a sense of ownership. Agriculture offers us a unique opportunity to a make a difference,” he added.
– This Day