DELCOM project to attract $1bn, boost jobs, transform Delta’s agriculture – Oborevwori

Delta State Governor, Rt. Hon. Sheriff Oborevwori, yesterday, said the Delta State Commercial Oil Palm Plantations Growers Cooperative Society Limited (DELCOM COOP) project was expected to attract close to $1 billion in development finance over the next decade.

Governor Oborevwori who disclosed this at the public presentation and launch of DELCOM COOP/Delta State Oil Palm Plantations Development Land Bank and Agric Data in Asaba, said it was expected to create thousands of jobs, stimulate the local economy and position Delta State as a frontrunner in Nigeria’s agricultural transformation.

He said that transforming Delta State’s Oil Palm Industry was in furtherance of his MORE Agenda, which underscores the unwavering commitment to unlocking the immense potentials of agriculture, particularly the oil palm sector, as a catalyst for sustainable development, wealth creation and the enhancement of livelihoods.

According to him, “today, we come together at a pivotal moment in the history of Delta State – an opportunity to shape a future where agriculture, particularly the oil palm industry, becomes the cornerstone of our economic transformation.

“This journey began on 20 November, 2018, when the Delta State Government, under the visionary leadership of my predecessor, initiated a bold partnership with the Central Bank of Nigeria (CBN).

“That meeting marked the genesis of our commitment to the CBN’s 10-year Oil Palm Development Initiative, a programme designed to reclaim Nigeria’s global leadership in oil palm production and drive unprecedented growth in this vital sector.

“Delta State, like other participating states, is committed to contributing 100,000 hectares of farmland to this national initiative.

“Through the CBN/Bankers Committee’s N500 billion RSSF-DCRR Funding Facility, we aim to access N120 billion over the next decade to revolutionize our oil palm sector. This is not merely an investment in agriculture; it is an investment in the future of Delta State.”

The Governor held that since the the establishment of DELCOM COOP on 04 August, 2020, “we have achieved remarkable milestones. ”

He said, “Starting with 41 Limited Liability Companies and 1,971 Smallholder Farmers, DELCOM COOP has now expanded to encompass 145 companies and 3,080 Smallholder Farmers.

“This exponential growth reflects the steadfast support of the Delta State Government and the collective resolve of our stakeholders.

“A cornerstone of our success is the adoption of the Delta State Model – a community-centric approach that places both land and wealth in the hands of our people.

“Through the Community Land Release and Participatory Model, 68 host communities across Delta North, Central and South, have generously released 130,000 hectares of dormant arable land, surpassing our initial target of 100,000 hectares.

“Of this, 10% is reserved for the benefit of indigenes, while 22% of the annual net profit from commercial operations will be allocated to the communities.

“This model ensures that our people are not merely beneficiaries but active participants and stakeholders in this transformative project.”

He disclosed that the state would establish six strategic hubs for the aggregation and processing of Fresh Fruit Bunches (FFB) into high-value products such as palm oil, palm stearin and organic fertilizer.

“The DELCOM Project is being implemented in phases. The first phase targets 30,000 to 35,000 hectares and involves the establishment of two oil mills, with an estimated cost of $150 million, within the first two years.

“To demonstrate our commitment, the Delta State Government has already approved a N25 billion ISPO guarantee for Tranche 1 of Phase 1.

“Sustainability lies at the core of this project. DELCOM COOP has posted a counter-guarantee to the Delta State Government, ensuring the project can self-finance its second phase of 65,309 hectares.

“This is supported by the cultivation of intercrops such as cassava, maize, soyabeans and sorghum, which will be harvested and sold to appointed off-takers within the first 12 months of the project.

“By revolutionizing our oil palm industry, we are generating meaningful economic opportunities for our people, particularly in rural areas, where access to finance and infrastructure has historically been limited.

“We are also fostering peace and security by empowering communities and ensuring that they have a vested interest in the success of this project.

“To our traditional rulers, community leaders and stakeholders, I urge you to sustain your invaluable support for this initiative. Your cooperation and commitment have been pivotal to our achievements thus far and I am confident that, together, we will achieve even greater milestones,” he added.

Oborevwori emphasized that the transformation of Delta State’s oil palm industry was not just a government project; but a collective endeavour requiring the dedication of all stakeholders.

He said, “Together, we can unlock the immense potential of this sector, create wealth and build a brighter future for generations to come.”

Earlier, Secretary of DELCOM, Dr Felix Okonti, said DELCOM COOP hoped to lift two million Deltans out of poverty and create 15,000 millionaires 1,080 billionaires in Delta by the year 2032 through the oil palm projects initiative.

He said a new foreign private equity funding was being processed to secure $900 million for DELCOM COOP’s 100,000 hectares plantations and six large scale 150 MTPH FFB Oil Mills Projects Development.

He added that the DELCOM Project had the capacity to generate more than 288,700 jobs in the first instance and one million jobs in the long run.

More Top Stories

Is Japa to the UK on a student visa greener pasture or self-imposed hardship?
2027: Delta Speaker, Guwor hails Waive’s endorsement of Oborevwori
Delta PDP chairman, Arenyeka commissions Elumelu’s landmark projects in Aniocha North
Nigerian Navy offers career talks to youths in Delta
Petroleum Training Institute matriculates 1,625 students
Oborevwori tasks Team Delta on victory as NDSF torch lands Asaba
The Road to Constitutional Dictatorship

34 Responses

  1. I read this paragraph fully regarding the resemblance
    of most recent and previous technologies, it’s remarkable article.

  2. Thanks for sharing your thoughts. I truly appreciate your efforts and I
    will be waiting for your next write ups thanks once again.

  3. Hey! Someone in my Facebook group shared this
    site with us so I came to check it out. I’m definitely enjoying the information. I’m
    bookmarking and will be tweeting this to my followers!

    Wonderful blog and superb style and design.

  4. If you wish for to take much from this piece of writing then you have to apply such methods to your won web site.

  5. Whats up very nice blog!! Man .. Excellent .. Superb .. I will bookmark your website and take the feeds additionally?
    I’m satisfied to finmd numerous helpful info right here within the post,
    we want work out extra techniques on this regard, thank you for sharing.
    . . . . .

    My web site; https://Customs-advokat.ru/Services/tamozhennyij-Broker

  6. My developer is trying to persuade me to move to .net from PHP.

    I have always disliked the idea because of the expenses.
    But he’s triong none the less. I’ve been using WordPress on various websites for about a year
    and am worried about switching to another platform. I have heard good things about blogengine.net.

    Is there a way I can transfer all my wordpress
    content into it? Any kind of help would be really appreciated!

    Also visit my blog … помощь в оформлении таможенной декларации

  7. If you desire to obtain a good deal from this piece of writing then you have to apply such techniques to your won blog.

  8. You actually make it seem so easy with your presentation but I find
    this topic to be actually something which I think I would
    never understand. It seems too complex and very broad
    for me. I’m looking forward for your next post, I will try to get the hang of it!

  9. زمان برگزاری آزمون ورودی دبیرستان ماندگار البرز، با توجه به آمار قابل توجه موفقیت دانش‌آموزان این دبیرستان در آزمون‌های سراسری و المپیادهای علمی، آگاهی از زمان برگزاری آزمون ورودی دبیرستان ماندگار البرز، دغدغه‌ای مهم برای بسیاری از دانش‌آموزان و اولیاء محسوب می‌شود.

  10. تاریخ برگزاری کنکور سراسری، بر
    اساس اعلام سازمان سنجش آموزش کشور، تاریخ
    دقیق برگزاری کنکور سراسری سال
    ۱۴۰۴ در تمامی گروه‌های آزمایشی ریاضی، تجربی، انسانی، هنر و زبان، در دو نوبت مجزا در سال برگزار خواهد شد.

  11. تاریخ برگزاری کنکور سراسری، بر اساس اعلام سازمان سنجش آموزش کشور، تاریخ دقیق برگزاری کنکور سراسری سال ۱۴۰۴ در تمامی گروه‌های آزمایشی ریاضی، تجربی، انسانی، هنر و زبان، در دو نوبت مجزا در سال برگزار خواهد شد.

  12. زمان ثبت‌ نام در مدارس نمونه دولتی، با توجه به تغییرات اخیر
    در فرآیند ثبت نام مدارس نمونه دولتی، دانش آموزان و اولیا نیاز به اطلاعات دقیق و
    به روز در خصوص زمان ثبت‌نام در
    مدارس نمونه دولتی و نحوه ثبت نام دارند.

  13. I used to be recommended this web site through
    my cousin. I am now not sure whether this post is written by him as nobody else realize such detailed about my problem.
    You’re wonderful! Thank you!

  14. زمان ثبت‌ نام در مدارس نمونه دولتی، با توجه به تغییرات اخیر در فرآیند ثبت نام مدارس نمونه دولتی، دانش آموزان و اولیا نیاز به اطلاعات دقیق و به روز در خصوص زمان ثبت‌نام در مدارس نمونه دولتی و نحوه ثبت نام دارند.

  15. امریه استانداری کردستان، به فرصتی اشاره دارد که به مشمولان خدمت وظیفه عمومی این امکان را می‌دهد تا به جای گذراندن دوره سربازی در یگان‌های نظامی، خدمت خود را در استانداری کردستان و زیرمجموعه‌های آن انجام دهند.

  16. I blog frequently and I really thank you for your content.
    Your article has truly peaked my interest.
    I’m going to book mark your blog and keep checking for new information about once a week.
    I subscribed to your RSS feed too.

  17. اعتراض به نتایج آزمون ورودی مدارس تیزهوشان، پس از اعلام نتایج آزمون ورودی
    مدارس تیزهوشان، دانش‌آموزانی که
    می خواهند نسبت به اعتراض به نتایج آزمون ورودی مدارس تیزهوشان اقدام نمایند، می‌توانند از طریق سامانه مای مدیو به نشانی my.medu.ir اقدام به ثبت اعتراض
    نمایند.

  18. What i don’t understood is in fac hhow you’re nno longer really a lot mopre
    neatly-preferred than you may be right now.

    You’re so intelligent. You recognize thus significantly relating to this topic, produced me in my view believe it from numerous varied angles.
    Its likoe women and men are not involvsd unless it’s onee thing to accomplish with Girl
    gaga! Your own stuffs great. All thhe time deal with it up!

    Here is my page: Double Headstones

Leave a Reply

Your email address will not be published. Required fields are marked *