By Samuel
Ondo State Government has flagged off the construction of a N4.2 billion egg powder factory in Emure-ile in Owo Local Government Area of the state.
Governor of the state, Rotimi Akeredolu, said that the project was initiated to facilitate the production of powdered eggs in the state.
Akeredolu speaking during the flag-off ceremony explained that the factory upon completion would be of immense benefit to the state and by extension Nigeria.
The governor said that the factory would save the Federal Government no less than $30 billion used to import eggs annually.
He added that the investment would create employment opportunity for the indigenes of the state “no fewer than 10,000 direct jobs would be created”
Akeredolu also urged the poultry farmers to embark on massive investment in poultry business adding that no fewer than 500,000 eggs would be needed per day to run the factory.
He, therefore, appealed to the Federal Government to ban the importation of eggs as soon as the factory begins operation.
Chairman of Board of Directors of the company, Mr. Akinboye Oyewumi, on his part explained that the investors were Imperial Capital with a 45 percent stake while the state government had 55 percent shares.
Oyewumi further disclosed that the state government would sell its shares when the company became fully operational.
He explained that the government was not in it to run businesses added that both partners had already provided money for the takeoff of the industry
The project would be completed within 12 months, Oyewumi revealed.