Okomu Oil Palm Company: Setting agro-processing investment pace

in the category Press review. Socfin in Nigeria ( Okomu )
Okomu Oil Palm Company: Setting agro-processing investment pace

Okomu Oil Palm Company: Setting agro-processing investment pace (Nigerian Tribune 09-03-2015)

The Okomu Oil Palm Company, a palm company with 8,800 hectares of mature palms, 4,000 hectares of rubber, and a palm oil mill of 30 tonnes per hour capacity, was established in 1976 as a Federal Government pilot project aimed at rehabilitating oil palm production in Nigeria. At inception, the pilot project covered 15,580 hectares of land, out of which 12,500 hectares could be planted with oil palm. It was incorporated on December 3, 1979, as a limited liability company.

The privatisation of the Okomu Oil Palm Company Plc (1990) has been a great success and a huge encouragement for the Nigerian agricultural sector for the future, with profound positive consequences of stable socio-economical growth for the region where it is implanted.

Okomu benefits from the quality management provided by its main shareholders and technical partner (SOCFINAF). With a 53.32% share in Okomu Oil Palm Plc, SOCFINAF is the biggest single shareholder in the company. SOCFINAF brings into Okomu Oil Palm Plc a little under a century of sound acclaimed technical expertise in the world stage.

In line with its Corporate Social Responsibility (CSR) initiative, the management of Okomu Oil Palm has affected not only the lives of people in the community where it operates, but also a wide spectrum of Nigerians. In August 2014, it donated a Ford (twin cabin) patrol vehicle to Ehor Division, Edo State command of the Nigeria Police Force to boost its operations and curb insecurity.

Other CSR projects include construction of town halls, classroom blocks, road grading, health centres and other educational assistance, including but not limited to yearly bursary awards, supply of books, science equipment and teaching materials.

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