Edo Govt, Fayus check $250m oil palm investment, ensure sustainability.

As an investor in the Edo State Oil Palm Programme (ESOPP), Fayus Nigeria Limited recently inspected its oil palm developments in Edo State, which are valued at approximately $250 million. The inspections took place in Ora, Owan East Local Government Area, and Ewan-Isi in Uhunmwonde Local Government Area, both of which are located in Edo State. The purpose of the inspections was to track how far along the projects are.

During the course of the inspection, the President and Chief Executive Officer of Fayus Inc., Mr. Fatai Yusuf, gave an interview in which he referred to the Governor of Edo State, Mr. Godwin Obaseki, as a visionary leader who is utilizing investment in oil palm plantations to bring about economic growth in the state of Edo and Nigeria as a whole.
Mr. Yusuf made this observation while discussing the importance of conducting business in accordance with the best international standards. He stated that adhering to the principles and criteria established by the Roundtable for Sustainable Palm Oil (RSPO) is essential to developing into a world-class participant in the global commodity trade.

When it comes to the production of oil palm, he claims that “We are following all of the RSPO principles and criteria.” We are dedicated to becoming a producer of premium-quality palm oil in Nigeria and throughout the world. This is the reason why we have been working closely with the communities; we provide employment opportunities for the communities; we train our workers, and we also carry out community projects as a means of developing the communities.
Mr. Churchill Oboh, the Acting Team Lead for ESOPP, referred to Fayus Nigeria Limited as a credible investor who is committed to ensuring that oil palm is produced in accordance with the best practices that are currently prevalent internationally.

He disclosed that the government of Edo State had instituted a variety of safeguards to ensure that investments in oil palms would continue to be successful within the state.

“The Edo State Oil Palm Programme is aimed at enhancing the quality of life of the Edo people,” the program’s website states. As agricultural communities, the various communities that are included in the program are assisted from the very beginning of the process. The program is designed to make certain that there are provisions made to ensure that the local communities can continue to make a living for themselves. Additionally, he emphasized that this investment opens up many doors of opportunity for the residents of the communities in question, including the creation of new jobs as well as the expansion of both economic and physical infrastructure.

Responding on behalf of the Ewan-Isi Community, Ode Izekor expressed gratitude to the state government and Fayus Nigeria Ltd. for the positive impact they have had on the community in terms of development. He also mentioned that there has been a positive relationship between his community and the investor.