Mr Tunji Owoeye, Managing Director, the Elephant Group, says the company will soon buy cassava from 350 farmers in Edo North Senatorial District of Edo and process it into flour.
Owoeye said this in a statement signed by the Group Media Consultant, Mr Babatunde Ajibola, and made available to newsmen in Lagos on Thursday.
According to him, the 350 farmers in Edo North Senatorial District will be benefitting from the Anchor Borrowers Programme of the Central Bank of Nigeria (CBN).
“The Elephant Group, in conjunction with Edo State Government and the Nigeria Incentive Based Risk Sharing System for Agricultural Landing (NIRSAL), has signed a Memorandum of Understanding (MOU) to this effect.
“The Edo State Government has approved N140 million as its counterpart funding for land preparation for the project.
“Over 150 cassava farmers and 200 youths in the senatorial district participating in the programme will cultivate 500 hectares of cassava,’’ he said.
Owoeye said that the part of the terms of the agreement on the project, which would start before the end of December, required the Elephant Group to buy cassava from the farmers and process it into flour.
The managing director said that his company wanted to support the Federal Government’s back-to-farm policy, which was devoid of sole reliance on oil and gas assets, and create jobs.
Owoeye said that the company’s management had exposed the staff to various capacity building trainings, as part of efforts to actualise its vision on Nigeria’s economic growth.
