Edo Govt, Fayus inspect $250m oil palm investment, assure on adherence to sustainability principles

8 Nov 2022

Image
Caption: Fayus Nigeria Limited, an investor under the Edo State Oil Palm Programme (ESOPP), during an inspection of its oil palm developments valued at about $250m in Ora, Owan East Local Government Area and Ewan-Isi in Uhunmwonde Local Government Area; both in Edo State

Fayus Nigeria Limited, an investor under the Edo State Oil Palm Programme (ESOPP), has conducted an inspection of its oil palm developments valued at about $250m in Ora, Owan East Local Government Area and Ewan-Isi in Uhunmwonde Local Government Area; both in Edo State, to monitor the progress on the projects.

The President and Chief Executive Officer, Fayus Inc., Mr. Fatai Yusuf, in an interview during the inspection exercise, described the Edo State Governor, Mr. Godwin Obaseki as a visionary leader who is using oil palm investment to bring economic development to the State and Nigeria at large.

Image

While commenting on the need to operate in line with international best standards, Mr. Yusuf noted that the Roundtable for Sustainable Palm Oil (RSPO) Principles and Criteria are key to becoming a world-class participant in global commodity trade.

According to him, “We are following all the RSPO principles and criteria in oil palm production. We are committed to being a first-class palm oil producer in Nigeria and the world. This is why we have been working closely with the communities; we provide employment for the communities; we train our workers and also carry out community projects as a way of developing the communities”.

Image

The Acting Team Lead, ESOPP, Mr. Churchill Oboh described Fayus Nigeria Limited as a credible investor that is committed to ensuring oil palm is produced in line with international best practices.

He revealed that the Edo State Government has put different measures in place to ensure that oil palm investment in the state is sustained.

“The Edo State Oil Palm Programme is targeted at improving the livelihood of the Edo people. Under the programme, the various communities are carried along from the get-go, being agrarian communities. The programme is structured to ensure that there are provisions made to sustain the livelihoods of the local communities. Also, this investment brings in lots of opportunities for the people of the communities such as job creation, and infrastructural and economic development,” he noted.

Image

Responding on behalf of Ewan-Isi Community, Ode Izekor, thanked the state government and Fayus Nigeria Ltd. for their developmental strides in the community and added that there has been a healthy relationship between his community and the investor.