Ondo Inaugurates N42b Egg Powder Plant

Ondo Inaugurates N42b Egg Powder Plant

A N42 billion Egg Powder Plant has been inaugurated in Ondo state under a Public Private Partnership (PPP) arrangement between the State government and Greenfield Assets Limited.

The plant which is to be situated at Emure-Ile, near Owo will provide 25,000 new jobs, a foreign exchange earnings of $1 billion in addition to increased incomes for poultry farmers in Nigeria. Mr Godwin Emefiele

The factory sits on a 150 Hectares of land and will produce 10 million broilers per annum with a 4,000 birds per hour meat processing plant; a 600,000 layers farm for the production 100 million eggs per annum; two 20 tons per hour Feed-mill and a 500,000 Eggs per day.

Chief Executive Officer of Greenfield Asset Limited, Dr Paul Obanua while speaking at the ceremony expressed joy over the citing of the factory in Ondo state and noted that within a year, the first phase of the project will be commissioned.

Obanua who noted that the plant can process over one million eggs on daily basis, stressed that the product after being processed into liquid form will last for 18 months.

Speaking at the event, the Central Bank Of Nigeria CBN Governor, Godwin Emefiele expressed delight that the ondo state government is implementing appropriate measures to make the state a viable destination for local and foreign investment.

Emefiele expressed the readiness of the bank to support the state government to promote small scale entrepreneurs.

He maintained that the project will in no small measure drive the economic growth of the state and by extension the nation, reduce unemployment and increase social cohesion.

The CBN governor said that the project will also help to support the Buhari led government’s determination to increase local production of critical agricultural produce and reduce drastically importation of items that the country can produce.

He lauded efforts of Governor Oluwarotimi Akeredolu for looking beyond oil and embracing agriculture to drive and change the economic status of the state.

Governor Akeredolu said the powdered egg factory would have great economic impact on state and the nation at large as the only producer of such product in West Africa.

He said the project attests to his administration’s determination to industrialise the state.

The governor added that the project is a clear demonstration of his campaign promises to the people and charged the political class in the state to be resolute in effecting positive change in the lives of the people.

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