Akwa Ibom signs MoU for integrated poultry processing plant

In an effort to boost the consumption of poultry products and promote entrepreneurship, Akwa Ibom State government has signed a memorandum of understanding (MoU) with a foreign firm for the implementation of a poultry project that would process 5 million broilers monthly.

According to the content of the MoU, Akwa Ibom State, Soeni Konsult Ltd and Messrs HVA Intl. B.V Amsterdam, share a common interest in the industrialisation of the state and, therefore, seek to share their respective strength, experience and resources with the collective goal of implementing a vertical integrated project through a public-private partnership.

Signing on behalf of the State Government, the Executive Chairman, Akwa Ibom Investment Corporation (AKICORP), Elijah Akpan, said that his Corporation seeks to promote enterprise development, food production, job creation, wealth creation and poverty eradication.

He added that the corporation is committed   to improving community livelihood, aimed at addressing socio-economic and social development challenges of Akwa Ibom people.

Akpan expressed the optimism that the project, when completed would be of enormous benefits to both the people and Government of the State, as well as the investors.

Also, signing on behalf of Soeni Konsult Ltd, its Chief Executive Officer, Olusola Ajayi, said that each of the components contained in the MoU will be operated as a profit centre.

He said the proposed support services of the project would include Biological Waste Treatment Plant, for good environmental services; Veterinary Diagnostic and Quality Control Laboratory, among others.

Signing for Messrs HVA International B.V, a company based in Amsterdam, The Netherlands, the Director of Livestock Project, Gerhard Veldink, said he was looking forward to the implementation of the project, which he described as a viable one, considering the huge advantages to all parties involved.

He said that besides all the spelt out benefits, there will also be a Poultry Academy, which will train, not only staff of the industry, but also will be an avenue for the creation of skilled employment.

The scope of the project, which is under a Public Private Partnership (PPP) arrangement, is the establishment of Broiler Parent Rearing Farms, to produce hatching eggs;  Broiler Hatchery, to produce broiler day old chicks; Broiler Farms, Poultry Processing Plant, for production of quality carcasses, Feed Mill, for production of quality feed; Rendering Plant, for processing of waste to health, and other support services.

While the State Government is expected to provide land for the project and staff housing, to be capitalised as part of equity contribution and provide enabling environment for the success of the project; Soeni and Partner shall undertake a detailed master plan for the project’s implementation, employ in its workforce qualified indigenes of the State and perform any other role that may be considered necessary for the effective realisation of the project.

Akwa Ibom State Government has 10% equity participation in the project while Soeni & Partners will take up 90% of the shares.