Enugu, firm seal N100bn deal on moribund United Palm Products

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11th May 2024

PETER-MBAH-1

Enugu State Governor, Peter Mbah

By 

Raphael Ede

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In a bid by the Governor Peter Mbah Administration to revive and convert Enugu State’s dormant assets to productive assets, the government has signed a N100bn deal with Pragmatic Palms Limited, a subsidiary of Diamond Stripes Limited, to resuscitate the moribund Enugu State United Palm Products Limited.

The partnership will see Pragmatic Palms transform UPPL, one of the agricultural and agro-industrialisation initiatives of the late premier of the defunct Eastern Region, Dr M. I. Okpara, which had remained fallow for many years.

Speaking during the signing of agreement at Government House Enugu, the governor said the move was in line with his administration’s determination to grow the state’s economy exponentially from $4.4 billion to $30 billion, assuring the investors that his government would play its own part.

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“This investment outlay of over N100bn is very significant because we also see agriculture beyond food security. We see agriculture as business.

“I want to assure you that the government you are dealing with is business-facing, and given my background as an entrepreneur, we understand what it means to have the ease of doing business,” Mbah stated