Friday, April 12, 2024

Ondo Invests in N42 Billion Egg Powder Factory

The Ondo State Government in association with Greenfield Assets Limited has launched an egg powder plant in Emure-Ile, Owo, Ondo state.

The proposed powder plant valued at N42 Billion is expected to create 25,000 job opportunities and huge foreign exchange earnings for the Nation.

Dr Paul Obanua, the CEO of Greenfield Asset Limited, speaking at the ceremony said the initial phase of the project will be implemented within a year. He further explained the factory will be able to process an average of a million eggs per day.

Egg Importation Persists in African States

The Ondo State Governor, Rotimi Akeredolu, said that the powdered egg factory will have a great economic impact on the state and the nation at large as the factory has the tendency of being the only producer of such product in West Africa.

Akeredolu in his words said the project would serve as an evidence of his administration’s determination to industrialize the state.

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, at the event said the bank is ready to support the state government to develop small scale businesses. He noted the project is in line with the Federal Government plans to increase local production of critical agricultural commodities and reduce reliance on importation.

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