In keeping with her promise to zero tolerance for moribund assets, the Enugu State Government has flagged off the revitalization of the Enugu United Palm Products Ltd, EUPPL.
The revitalization of the Enugu United Palm Products Ltd located at Ibite Olo in Ezeagu Local Government Area was made possible by a partnership deal between the Enugu State government and Pragmatic Palms.
While the Pragmatic Palms is investing a sum of sixty billion naira, the state government provides assets valued at forty billion naira.
“This N100bn partnership with Pragmatic Palms Limited is more than just an investment; it is the triumph of vision over doubt. Despite the skepticism that greeted this ambitious plan, we have shown that with focus and determination, we can unlock the true potentials of our state.”
“This project is set to create 3,500 jobs, breathe life into 20,000 hectares of palm plantation and establish world-class oil mills and refining capacities.”
“We are not simply reviving a business; we are igniting a transformation that will place Enugu at the forefront of agricultural innovation and economic growth in Nigeria.”
“Our vision is to make Enugu a premier destination for investment, industry, and sustainable development.”
“Today’s groundbreaking ceremony marks a significant step towards realizing that goal, proving that with strategic partnerships and determination, we can achieve great things for our state. I heartily thank the people of Enugu State for trusting in this vision, and Pragmatic Palms Limited (PPL) for their commitment to its success.
Recall that on the 9th of May 2024, the Enugu State Government signed a N100 billion naira partnership deal with Pragmatic Palms; Pragmatic Palms is a subsidiary of Diamond Stripes Limited and George Nwangwu is the Managing Director/Chief Executive Officer.
United Palms Products Ltd is one of the agricultural and agro-industrialization initiatives of the late Premier of the defunct Eastern Region, Dr. Michael Iheonukara Okpara, which has lain fallow for decades.
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