From TCNEWS
In a decisive move to safeguard state interests, the Abia State Ministry of Agriculture, under the leadership of Commissioner Dr. Cliff Agbaeze, has announced the termination of existing contracts with investors in the state’s farm estates.
The contracts, which encompass oil palm, cocoa, cashew, and rubber zones, were found to be detrimental to the state’s interests and have been repeatedly breached by the investors.
He said the government has emphasized its commitment to preserving state resources for the benefit of all Abians and restoring the state’s former glory and as part of this commitment, the administration will initiate a new open bidding process to attract credible investors.
This process according to him, will ensure transparency and align with international best practices, safeguarding the state’s interests.
“Effective January 1, 2025, all activities by the affected investors must cease. The companies involved include Providence Resources Ltd at Abia Cocoa Farm Estate, Agbozu; Manglore Farms Ltd at Abia Cashew Estate, Umunneochi; South Estate Farm and Agro Investment Processing Company at Ukwa Nkporo Oil Palm Estate; and Great Nobles Integrated Ltd at Ameke and Ndi Oji Abam Rubber Plantation”.
This strategic decision, according to the Commissioner, marks a new chapter for Abia State’s agricultural sector, promising a future of integrity and prosperity.