Akeredolu inaugurates N4.2bn egg powder factory

A N4.2b egg powder factory, The Sunshine Food Processing Concept Ltd.,has been flagged off by the Ondo state governor,  Mr. Rotimi Akeredolu, for the production of powderised eggs in Emure-ile in Owo Local Government Area of the state.

Speaking during the flag-off ceremony, Akeredolu, urged poultry farmers to embark on investing in poultry farming as the industry would be an available market.

According to him,  the factory if completed would be of immense benefits to Nigeria as whole, adding that it would save Federal Government nothing less than $30 billion being used to import eggs on yearly basis.

He said apart from this, the investment would create employment opportunity for the people of the state, saying no fewer than 10,000 direct jobs for the job seekers would be created,  explaining that no fewer than 500,000 eggs will be needed per day for the operation of the industry.

Akeredolu explained that the Federal Government would have to ban importation of eggs when the industry began operation, saying the industry would be the biggest ever in the state when completed.

Also explaining the economic importance of the powdered egg factory,  the Chairman of Board of Directors of the company, Mr Akinboye Oyewumi, explained that the investors are Imperial Capital with 45 per cent stake while the state government has 55 per cent shares.

Oyewumi disclosed that the state government would sell its shares when the company became fully  operational, saying the government was not in business to run businesses.

He said that the project would be completed within 12 months, explaining that both partners provided  money for the company’s take off of the industry and was in a bank already.

Similarly, Pastor Akin Olotu, the Special Adviser on Agriculture and Agric. Business to the state governor, said that the benefits inherent in the investment were not only meant for the state but the country.

Olotu explained that it would have great effect on Nigeria’s foreign exchange by reducing pressure on dollars, saying that the investment would also address annual challenges being faced by poultry farmers.

The SA stated that the industry would ensure industrial usage of eggs which called for poultry value chain through a lot of groups benefiting from the investment.

“We will have egg powder, pasturised liquid eggs and the shells will be utilised for poultry feeds and a lot of things.

“What Governor Akeredolu has succeeded in doing is the development of the poultry value chain. We are looking at production, we are looking at processing, we are looking at marketing and we are looking at foreign exchange earnings.

“ So, it is a full circle. The implication is that more people will come into poultry works, more jobs be created. So the advantages are so numerous,” Olotu stated.

Similarly, Engineer Ifeoluwa Oyedele, a member of the Board of Directors in the company, said that the industry had great economic gains to the state and the country.

Oyedele noted that multiple effects of the establishment would cut across all human endeavours.