Wilmar invests n45 billion on plantation others in cross river

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Wilmar, a Singapore-based agribusiness company, has invested N45 billion (approximately $120 million USD) in a plantation project in Cross River State, Nigeria. The investment is part of Wilmar's efforts to expand its operations in Africa and increase its production of palm oil and other agricultural products.

The plantation project, which is expected to create thousands of jobs, will cover an area of over 10,000 hectares in Cross River State. The project will involve the cultivation of palm oil, rubber, and other crops, as well as the establishment of a processing facility to produce value-added products such as palm oil, palm kernel oil, and rubber products.

The investment is a significant boost to the Nigerian economy, particularly in the agricultural sector, which is a major contributor to the country's GDP. The project is also expected to improve the livelihoods of local communities and provide a sustainable source of income for farmers and workers in the region.

It's worth noting that Wilmar has been operating in Nigeria since 2011 and has already established a significant presence in the country. The company has invested in several agricultural projects in Nigeria, including a palm oil refinery and a sugar plantation.

Overall, Wilmar's investment in Cross River State is a positive development for the Nigerian economy and a testament to the country's potential for growth and development in the agricultural sector.