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The current palm oil and coconut investments are expected to bring in more than N160 billion annually for the Anambra State Government.
NAN reports that Dr. Onyekachi Ibezim, the state's deputy governor, said this during the opening of the 2023 farming season at Awka's Alex Ekwueme Square.
The governor's representative at the occasion, Ibezim, stated that the one million palm seedlings and one million coconuts coming from Malaysia were expected to provide the projected revenue.
"Last year, we began importing one million coconuts and one million palm oil seedlings from Malaysia; these species have a three-year maturation time.
"The off-takers will be processing the fruits of these plants when this investment fully matures, and over N160 billion will be yearly income from this window," he added.
