Soludo inaugurates seed processing plant for export produce

Gov. Chukwuma Soludo of Anambra on Tuesday inaugurated an export-based seeds processing plant, known as Panac Industries Ltd.

The plant is located at Mgbawa, Ogbunike in Oyi Local Government Area.

Soludo, represented by the Commissioner for Industries, Mr Obinna Ngonadi, described the plant as the first of its kind in the South-East.

He further described the plant as an addition to the industrialisation drive of the state.

He commended the Managing Director of the firm, Mr Chinedu Aniagboso, for blazing the trail in the seed processing subsector.

He called on entrepreneurs across the country to invest in the state, saying that “Anambra is open to investors”.

He said that the administration was determined to support the activities of the export sector.

According to Soludo, we have already commenced the creation of an export emporium, where all export-bound products would be showcased, standardised, branded and containerised.

“This is a great initiative, exporting processed agro produce is a huge addition to the industrialisation efforts of Anambra, including its employment and revenue benefits.

“We are going to support businesses like this.

“Already, we have started building an export emporium on a 40-hectre land.

“That facility will be a standardised point for all Anambra export brands,” he further said.

In a remark, Aniagboso said the company was set up to add value to Nigeria’s agricultural produce.

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He said that the plant had a combined capacity of 60-metric tonnes processed sesame seeds, soya bean seeds and sorghum.

He said the initiative was a product of years of business opportunity research within and outside the country.

He thanked the Anambra Government for providing the conducive environment for investment to thrive in the state.

Aniagboso appealed to the government to provide the basic infrastructure and institutional support for young entrepreneurs.

The Director-General of Onitsha Business School, Prof. Segun Sogbesan, said the only way Nigeria could improve her balance of trade was to encourage export of value added products.

Sogbesan said Nigeria should move from exporting primary products to processing in order to earn foreign exchange.

Also, Chief Kevin Obieri, the Chairman, Onitsha Chamber of Commerce, Industry, Mines and Agriculture, called on the State Government to build industrial clusters with necessary facilities that encourage business establishment and growth.

Obieri congratulated Panac Industries for leading the pack in the export-based subsector.

He said that indigenous firms need incentives, low cost finance, access roads, power and water to thrive.

Source – NAN