Okomu Oil Palm Plc has called on the Federal Government and Edo State Government to combat insecurities and banbits whose activities are disrupting its farm operations.
Specifically speaking to journalists on Saturday, the Managing Director of Okomu Oil Palm Plc, Graham Hefer alongside other senior management of the company said that the company’s rubber plantation was stopped in 2023 due to insecurity and attacks on the company’s facilities.
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.
He said, “Last year, we also had attacks. The same people were attacking us last year, so we had to stop our rubber farming.
“So, we did not fulfil our obligations in terms of our commitment because we could not tap at that stage,”
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.
Highlighting government policies and regulations, particularly multiple taxation, posing significant challenges, 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.
He stated, “At the moment, we have a good market for what we are producing, and we are happy within that market. We feel we are comfortable with that.
“But if later on, my board decides to look into different things, we may, but right now, we are happy with where we are.”
Reports gathered that 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.
A militant group claiming responsibility for the attacks demanded about a 25% stake in the company and a directorship position on its board.
Insecurity in the past few years has spread from the North-East region where the Boko Haram insurgency is rife to all over the country.