Governor Sheriff Oborevwori of Delta State has unveiled a plan to attract nearly $1 billion in development finance for Delta State’s oil palm industry over the next 10 years, positioning the state as a leader in Nigeria’s agricultural transformation.
Oborevwori disclosed this while speaking in Asaba at the launch of the Delta State Commercial Oil Palm Plantations Growers Cooperative Society Limited (DELCOM COOP) Land Bank and Agric Data initiative, the governor emphasized that the project would create thousands of jobs, boost the local economy, and align with his administration’s MORE Agenda for economic diversification.
The governor noted that since DELCOM COOP was established in 2020, its membership had grown from 41 companies and 1,971 small holder farmers to 145 companies and 3,080 farmers.
He attributed the success to the Delta State Model, a community-driven approach that allows host communities to retain land ownership while benefiting financially.
Governor Oborevwori said, “This is more than an investment in agriculture, it is an investment in Delta State’s future.
“We are committed to contributing 100,000 hectares of farmland to the Central Bank of Nigeria’s (CBN) Oil Palm Development Initiative, with a target to access N120 billion in funding over the next decade.”
