Transcorp agribusiness arm to begin farming in Benue

Transnational Corporation of Nigeria Plc (Transcorp) has announced that its agribusiness subsidiary, Teragro Commodities Limited, has signed a Memorandum of Understanding (MoU) with the Benue State government to lease land to establish citrus farms in Ushongo, Benue State.

Donald Gbugho, Benue commissioner for agriculture and natural resources, signed on behalf of the state government alongside permanent secretary to the minister of agriculture, Neeyum Tsavnum.

The MoU represents an expansion of Teragro’s current operations in Benue State, which have previously been focused in Makurdi. Teragro has been functioning as an industrial operation processing oranges and mangoes into concentrates for local consumption. Over time, Teragro has grown and expanded its footprint and now produces concentrate that meets the most rigorous global standards for purchase by multinational corporations, including a leading international beverage manufacturer.

Gbugho thanked Teragro for the move, noting, “Teragro has contributed immensely to growth in Benue State. They first addressed community and youth unemployment by creating jobs and now, the company is taking a step forward by beginning proper farming, through expert agricultural investors who are standing by with improved varieties of oranges, which the Ushongo people and Benue State at-large can benefit from. This is truly a significant step in the development of agriculture in Benue and in Nigeria”.