As a Bill seeking establishment of establishment of the Oil Palm Research Institute in Ogun State scales second reading in the House of Representatives, its sponsor, Joseph Adegbesan, has stated several of its expected benefits to the Nigerian economy.
He explained that reseach institute’s proposed site of Ijebu-Igbo area of Ogun State was because it “is blessed with huge oil palm resources”, adding that its establishment will stimulate research in oil palm and its related fields. “It will also maximize the utility of such oil palm resources”, he said.
According to him, “It is trite that agriculture is fast becoming a major source of income and revenue generation for most countries of the world. This is made possible by reason of their investment in agricultural research, therefore it behaves on us as a nation to put in place, institutions that will stimulate research and thus open up undiscovered areas in the agricultural sector.
“This Bill is a step in putting in place such institution, which will serve as a precursor for social economic development, through research and innovation.
“It will also provide employment for the unemployed graduates and youths of Ogun State, and Nigeria as a whole”.
He said there was need to natural resources in oil palm and maximize it for profitability and development.