Bayelsa Partners CBN, MAMCOM On Rice Farming, Palm Commercialisation

The Bayelsa State Government has confirmed its decision to partner with the Central Bank of Nigeria (CBN) and the Manufacturing and Marketing Company of Nigeria Limited (MAMCON) over the cultivation of Rice farms and commercialisation of the state’s palm estate.

It added that the partnership to commercialise the state-owned palm estate at Elebele community in Ogbia local council area of the state was entered into with the Manufacturing and Marketing Company of Nigeria Limited (MAMCON), after a moratorium of six months with a concession fee of N150 million for 10 years.

The state government’s partnership with the Central Bank of Nigeria (CBN) was on the funding of aqua-culture projects like the 4,000 hectares rice farm at Isampou in the Kolokuma Opokuma local government area of the state.

Confirming the development, the state commissioners for Information, Education and Agriculture, after the 63rd State Executive Council Meeting at Executive Council Chambers, Government House, Yenagoa, said the move to generate N150 million is part of its drive to diversify the economy of the state as well as boost the internally generated revenue profile.

According to the state government, ‘the Bayelsa Palm Estate has been concessioned to the Manufacturing and Marketing Company of Nigeria Limited (MAMCON), after a moratorium of six months with a concession fee of N150m for 10 years.”

The Commissioner of Agriculture, Doodei Week, who spoke on the decisions reached at the meeting on the diversification the sector, noted that, the government has also decided to partner with the Central Bank of Nigeria on the funding of aqua-culture projects like the 4,000 hectare rice farm at Isampou in the Kolokuma Opokuma local government area of the state.

Other projects include, the Epie fish farm to be replicated in all the local government areas of the state and a central fish processing centre for both local and internal markets.

Source

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