The Delta State Commercial Oil Palm Plantations Growers Cooperative Society Limited (DELCOM COOP) has recorded major growth. It now has 145 Limited Liability Companies and 3,080 smallholder farmers.
This is a sharp rise from 41 companies and 1,971 farmers less than five years ago.
Delta State Governor, Rt. Hon. Sheriff Oborevwori, revealed this in Asaba, at the public presentation and launch of the DELCOM COOP/Delta State Oil Palm Plantations Development Land Bank and Agric Data.
The governor said the project could attract nearly $1 billion in development finance over the next decade.
“Today marks a pivotal moment for Delta State,” he said.
He stressed that agriculture, especially oil palm, will drive the state’s economic growth.
Oborevwori traced the journey back to November 20, 2018.
He recalled that the Delta State Government partnered with the Central Bank of Nigeria (CBN) to launch the initiative. The plan is part of CBNโs 10-year Oil Palm Development Initiative.
The governor said Delta State is committed to contributing 100,000 hectares of farmland to the national scheme.
Through the CBN/Bankers Committeeโs N500 billion RSSF-DCRR Funding Facility, Delta hopes to access N120 billion over ten years.
“This is not just an investment in agriculture,” he noted, “but an investment in the future of Delta State.”
Oborevwori praised the progress since DELCOM COOP was set up on August 4, 2020. He described the growth as “remarkable milestones.”
He credited the success to strong government backing and committed stakeholders.
The governor also hailed the Delta State Model, which he said empowers communities by giving them control over land and wealth.
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