Our virgin coconut oil in the international market is $6 per litre –

Excerpt From The Sun Interview With Governor #UdomEmmanuel

“We are not doing typical white elephant projects, we are doing projects that by tomorrow, even if we want to privatise, their Initial Public Offering (IPO) will realise initial investment and even give us room for expansion. Today, virgin coconut oil in the international market is $6 per litre. If you remember your mathematics very well, 221 litres make one barrel. So, multiply that to get how much it is a barrel”

“We might not refine as much as we do in terms of crude oil, but if you look at the numbers, there is no way, with all your sensitivity analysis that we will not operate at maximum capacity. Our next target will be bamboo, because if you scan the entire South-South, every little bush you see, you will see bamboo sprouting on its own. It is natural, it is like palm trees that you can see everywhere. Like our creed says, we see beyond what others see”.

“Concerning the coconut plantation, the Nigerian Institute for Oil Palm Research (NIFOR) is there following up. We are targeting to plant two million seedlings. Let the worst happen, there is no way out of the two million seedlings we won’t come out with about one million. They are high-bred coconuts and each bunch is targeted at about 57 nuts, and coconuts sprout about four to six rounds. At times, you have three layers at a go. So, if you have one million stands, it means that in about 200 days, you cannot finish about 200 million nuts”.- Governor Udom Emmanuel