The Enugu State Government Has Just signed a Massive N100 Billion Deal with Pragmatic Palms Limited
The Enugu State Government has just signed a massive N100 billion deal with Pragmatic Palms Limited, a subsidiary of Diamond Stripes Limited, to revive the moribund United Palm Products Limited. This partnership is part of Governor Peter Mbah’s administration efforts to convert Enugu State’s dormant assets into productive ones.
The Deal
The agreement aims to transform United Palm Products Limited, which was established by the state government to cultivate palm trees and produce palm products such as palm oil and kernel ². With this investment, Pragmatic Palms will revamp the company’s operations, leveraging its expertise to make it a thriving business.
Key Highlights
- Revitalization of United Palm Products Limited: The deal will resuscitate the company, creating jobs and stimulating economic growth in the region.
- 6,700 Hectares of Plantation: The concession covers a vast area, with about 2,000 hectares already planted.
- N100 Billion Investment: This significant investment demonstrates the government’s commitment to reviving the state’s economy.
Governor Peter Mbah has already flagged off the revitalization process at Ibite-Olo, Ezeagu LGA, marking the beginning of a new era for United Palm Products Limited. This partnership is expected to have a positive impact on the local economy and community.