Enugu, Fungtai, Association Sign Cashew Deal

The Enugu State government and Fungtai Engineering Ltd. have signed a Memorandum of Understanding (MoU) to produce cash crops on 7,221 hectares of agricultural land at Ugwujoro, Nimbo, in Uzo-Uwani LGA. This aligns with Governor Peter Mbah’s vision to ramp up agriculture and agro-industrialisation, boost security, and create employment.

They also signed another MoU with the National Cashew Association of Nigeria, NCAN, to establish a prefabricated Domestic Export Warehouse on 5 hectares of land at the Enugu State Polytechnic, Iwollo.

Speaking at the different MoU signing ceremonies at Government House, Enugu, Governor Mbah described agriculture as a significant Gross Domestic Product-enabling sector in his administration’s effort to grow the state’s economy to a $30bn economy in the next six years.

At the signing of the MoU with Fungtai Engineering, Mbah, who was represented by the, SSG, Prof Chidiebere Onyia, said the over 7,000-hectare agricultural initiative at Ugwujoro, Nimbo, ensures active utilisation of the area bothering the state and Kogi that had hitherto suffered attacks.

“We expect that much of our GDP growth will come from agriculture; hence, we are aggressive about agriculture and agro-industrialisation. As you are also probably aware, Ugwujoro Nimbo is a border area and has been a source of security concern. So, in addition to what we are doing with technology to secure our state, this massive agricultural initiative will effectively occupy that large expanse of land, and there will not be any room for any criminal to hibernate or launch an attack. Therefore, this MoU will boost agricultural production and agro-industrialisation, enhance security, and create employment.

“As a government, we will play our part to ensure that this initiative takes off in earnest and also succeeds because it is a win-win situation for both the state and the investors,” he stated.

The Managing Director of Fungtai Engineering Ltd, Sir Isaac Chuks, said the firm was eager to launch and described Enugu State under the Mbah Administration as an investor’s haven.

“We will make the government and the people of Enugu State proud for believing in us. We are happy the state is prioritising agriculture and de-risking investments. So, wait and see,” he assured.

Also signing the MoU with the National Cashew Association of Nigeria, NCAN, Mbah, represented by Prof. Onyia, described the venture to establish a pre-fabricated domestic export warehouse at the Enugu State Polytechnic, Iwollo, as a strategic move with multiple benefits for the state and the nation.

“We recognise the immense economic potentials of the cashew industry, valued at over $7bn in the global market, and the governor has deemed it necessary to engage in this value-adding relationship. We are very mindful of your reputation and experience and want to collaborate as a state to ensure we harness this opportunity in a way that has value for both sides of the table.

“This collaboration ensures that cashew production is processed locally, enhancing our GDP and creating significant job opportunities. With over six local government areas suited for cashew production, we are poised for a transformative journey,” he said.

Speaking, the National President of NCAN, Dr Ojo Joseph Ajanaku, assured Governor Mbah of a reliable and timely delivery, disclosing that the relationship they were building with the state government would optimise the state’s cashew potentials, expressing interest to also ultimately help to revitalise the moribund Premier Cashew Industry Limited at Akama Oghe.

“We deemed it fit to establish this Domestic Export Warehouse to aggregate what the farmers are producing, encourage farmers to go to farms and produce more, and make it easy for our processors in the country; we believe this collaboration will help us achieve our goal. We have plans to expand on this move.

“We thank you for this opportunity and promise we will not disappoint you. Because of our experience in the sector, we will ensure we do what is required of us,” Dr Ajanaku stated.