By Dipo Olowookere
The expansion strategy of the management of Ellah Lakes Plc is already on course as the company has confirmed getting an expanse of land to cultivate cassava and oil palm.
In a notice, the firm stated that it struck a deal with the Ondo State government to grow these plants as part of its expansion plans.
In the disclosure, it was stated that Ellah Lakes will have access to 5000 hectares of land in the state to plant cassava and oil palm, two plants yielding good returns lately.
According to Ellah Lakes, the land was handed to the company in form of a “joint development and management.”
“Ellah Lakes Plc is happy to announce that it has executed an agreement with Ondo State Government for the joint development and management of 5000 hectares of land for the cultivation of oil palm and cassava in Ondo State,” a part of the statement disclosed.
In his comments, the chief executive of Ellah Lakes, Mr Chuka Mordi, stated that, “This is a significant landmark for the company in the development of our land bank and we are very excited to be working with the Ondo State government.”
“I am delighted that we are fulfilling our strategic objective of progressively expanding our land bank and diversifying our portfolio and production base.
“I am also glad to say that the intercropping programme in Edo State is progressing steadily and we have achieved our first milestone of 100 hectares of cassava with the participation of personnel of the Agricultural Development Program (ADP), in Edo State,” he added.
Also speaking on the development, the Special Adviser on Development and Investment to the Ondo State Governor/CEO of Ondo State Development and Investment Promotion Agency (ONDIPA), Mr Akinboye Oyewumi, stated that, “We are pleased with this collaboration with Ellah Lakes Plc and we look forward to a mutually beneficial, valuable and fruitful venture.”