Akwa Ibom State Govt Commissions Multi-Billion Coconut Oil Refinery
- A landmark project which is the first of its kind in Africa has been built in Akwa Ibom state in the south-south region of Nigeria
- The facility is a combination of Asia and European technology built to transfer skills and develop the youths
- The coconut oil factory, which will be a major foreign exchange earner, is expected to create employment for Akwa Ibom youths
Mkpat Esin - The Akwa Ibom state government on Friday, May 13 commissioned its multi-billion-dollar coconut oil factory with the capacity to process one million nuts a day.
According to Governor Udom Emmanuel, the refinery located in Ikot Akpan Okop, Mkpat Enin local government area of the state is a multi-value chain mechanism that will not only diversify production but also triple returns on investment.
Source: Facebook
The inauguration of the factory was performed by Senator Gabriel Suswan, former governor of Benue state.
Speaking at the event, Governor Emmanuel said the landmark project which is the first of its kind in Africa is a combination of Asia and European technology built to transfer skills and develop the youths.
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He said the facility will earn the state high revenue as virgin coconut oil costs higher in the international market than crude oil.
He noted with delight that the coconut oil factory, which will be a major foreign exchange earner, is expected to create employment for the teeming youths and diversify the state's economy.
His words:
“Today you will witness the first of its kind, you cannot find this kind of factory in Africa that is refining virgin coconut oil with the capacity to process one million nuts a day in three shifts.
“Today we are aware that in the international market virgin crude coconut oil goes for $6 per liter and 221 liters makes one barrel, if the much talked about crude oil is about $110 per barrel it means that virgin coconut oil is $1326 per barrel which is higher than crude oil.
“Soon everyone is projecting that the demand for crude oil will dwindle in the future and we would have been prepared for the future.”
Governor Emmanuel assured the host community of training the youths, saying:
“The technology you are seeing here is a combination of Asia and European technology in order to transfer skills and then develop our people.”
2023: Rescuing Nigeria, my priority, says Udom Emmanuel
Meanwhile, Governor Emmanuel has reaffirmed his intention to run for president of Nigeria in 2023, stating that his ambition is to partner with God and rescue Nigeria from imminent collapse.
Governor Emmanuel stated this on Sunday, May 8 during the Government House Prayer Conference held at Banquet Hall of Government House, Uyo.
He said Nigeria needs a visionary leader who is prepared to lead the country without self-aggrandizement, adding that he believes Nigeria can come out from its present condition with the right leader who will address the problems of the country.
Source: Legit.ng
