The Benue State Government has approved an investment agreement worth approximately N378 billion for the establishment of the National Food City Project at Ogyoma Akpa in Otukpo Local Government Area.
The approval was granted during the State Executive Council meeting presided over by Governor Hyacinth Alia.
The project, described as a major private-sector agricultural investment, is expected to create more than 15,000 direct employment opportunities and strengthen food production, processing and value addition in the state.
The Commissioner for Information and Orientation, Chief Solomon Iorpev, disclosed this on Wednesday while briefing journalists on the outcome of the council meeting held at the Government House, Makurdi.
According to Iorpev, the project will cover more than 30,000 hectares of land and establish an integrated agricultural and processing hub where farm produce will be transformed into finished products for local consumption and export.
He said the initiative would help reposition Benue from being primarily a producer of raw agricultural commodities to a state that processes its agricultural output and derives greater economic value from the sector.
The commissioner added that about 40,000 farmers are expected to participate in the project by supplying commodities including rice, cassava and maize, as well as livestock feed needed for the facility’s operations.
Iorpev said the investment was consistent with the Alia administration’s efforts to create a business-friendly environment in Benue through policies promoting ease of doing business, due diligence and the attraction of domestic and international investors.
He further disclosed that the investment agreement would remain in force for 25 years, after which ownership of the facility would be transferred to the Benue State Government.
