Governor Chukwuma Soludo of Anambra state has inaugurated Panac Industries Limited, an export-based seeds processing plant, as part of moves to boost activities in the agro-export sector of the state for improved revenue generation.
The governor, who was represented by the Commissioner for Industries, Mr. Obinna Ngonadi, noted that the plant, which was the first of its kind in the Southeast region, was an addition to the industrialization drive of the state.
Soludo disclosed that the current administration is ready to support exportation activities, adding that it has already commenced the creation of an export emporium on 40 hectares of land where all export bound products from the state would be showcased, standardized, branded, and containerized.
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He called on entrepreneurs across the country to invest in Anambra, as the state is now open to investors, while commending the firm’s managing director, Mr. Chinedu Aniagboso, for considering the state as a destination for the project.
Aniagboso noted that the plant has a combined capacity of 60 metric tons to process sesame seeds, soy bean seeds, and sorghum for export, pointing out that the initiative was borne out of years of business opportunity research, both within and outside the country.
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He appreciated the state government for providing the enabling environment for a successful takeoff of the project, as he had requested the provision of basic infrastructure and institutional support for young entrepreneurs.
Also present was the Director General of Onitsha Business School, Prof. Segun Sogbesan, who insisted that the only way for Nigeria to improve her balance of trade is by moving from exportation of primary products to value-added products to earn foreign exchange.
