Norsworthy Farms Unveils Palm Oil Mill
Norsworthy Farms and Agro Allied Industries Limited marked a significant milestone in Nigeria’s palm oil industry with the inauguration of a cutting-edge ten-metric-tonne per hour palm oil mill in Akwukwu, Igbo, Delta State.
Addressing the gathering, Chairman of Norsworthy Farms and Agro Allied Industries Limited, Dr. Gabriel Ogbechie, recounted the organization’s vision, born out of a comprehensive market survey in 2017, to elevate palm oil production in Nigeria.
He underscored the global palm oil market’s robust valuation of $67.3 billion in 2022, expected to surpass $70 billion in 2023, emphasizing Nigeria’s pivotal role as a former leading producer now facing a decline.
Ogbechie lamented Nigeria’s reduced prominence in palm oil production, highlighting its transition from a net exporter to a net importer.
“With an annual consumption of approximately N2.5 million metric tonnes and an import expenditure of $500 million per annum, the country faces a significant deficit. He noted that despite vast suitable plantation land, “he said.
Ogbechie unveiled Norsworthy
Farms’ ambitious project, encompassing a multi-phase expansion plan. This plan includes extensive oil palm plantations, a ten-thousand-hectare estate over the coming years, a ten metric tonnes per hour processing mill, and a vegetable oil refinery.
In securing land for the project, Norsworthy Farms collaborated with the Delta State government, acquiring 1,400 hectares from the Iyiocha Forest Reserve, representing Delta State’s 10% equity stake in the project.
Former Governor Ifeanyi Okowa praised the initiative, emphasizing its potential to alleviate poverty and hunger in Delta State and Nigeria as a whole. He commended Dr. Ogbechie’s community-centric efforts, including the construction of vital infrastructure and support for local farmers through the outgrower scheme.
Delta State Governor, Hon. Sherrif Oborevwori echoed the sentiments, highlighting the project’s socio-economic benefits, including job creation and enhanced access to affordable palm oil. He pledged continued government support and encouraged further investments in Delta State, assuring prospective investors of a conducive business environment.