The Managing Director of Okomu Oil Palm Plc, Graham Hefer has said that the company’s rubber plantation was stopped in 2023 due to insecurity and attacks on the company’s facilities.
He said this alongside other senior management of the company in an interview with the News Agency of Nigeria (NAN) on Saturday.
He called on the Federal Government and Edo State Government to help the company combat bandits whose activities are disrupting its operations.
Hefer stated that rubber production is strategic to the firm’s operations, as it serves as one of its major sources of foreign exchange earnings. He, however, lamented the losses incurred in production, attributing them to insecurity.
The managing director stated that, in addition to insecurity, the devaluation of the naira, lack of foreign exchange and inadequate infrastructure have negatively impacted the company.
Hefer also highlighted that certain government policies and regulations, particularly multiple taxation, pose significant challenges for the firm.
He expressed hope that the government would address these issues to facilitate better business performance and attract more foreign investors.
Furthermore, the managing director indicated that there are no immediate plans for the company’s expansion unless decided otherwise by the board.
TheWitness had reported earlier this month multiple attacks on Okomu Oil Palm’s facility, resulting in the death of about three staff of the company. The company lamented the threat of insecurity to its operations and called on the government both at federal and state levels to come to its aid.
