Taraba To Partner Nexim Bank On Tea Production

By September 5, 2020 NEWS

Being the only state with the capacity to grow and produce tea in the country, Taraba state government has sought partnership with Nexim Bank to boost production of the commodity for both local and international demands.

The state government which solely owns the Mambilla Beverages Nigeria Limited; producers of Highland Tea, at a meeting with Management of the bank, also said it will soon commence coffee growth and production.

The state governor, Darius Ishaku who spoke, said the partnership seeks to facilitate the development of agricultural, mineral and tourism potentials of the state.

He mentioned Taraba Oil Mills limited as the best producer of palm oil in the country, which he said needs more investment to scale up production.

According to him, “what Taraba state needs now is the bank’s assistance for Highland Tea and palm oil to be produced in larger quantities to meet local and international demands.

“With increased production capacity of the the tea factory in Kakara, in Sardauna Local Government Council Area, and the development of coffee growth and production, thousands more of our youths will be empowered.

“Also, the palm oil produced in the state is the best in the world, and it is in high demand within and outside the country.”

He also briefed the bank’s chieftains on how his administration had turned the state into a hub for rice production and exportation and his plans to develop the tourism potentials of the state.

Responding, the Managing Director of Nexim Bank, Abba Bello, recounted that the bank through it’s investment research, discovered that Taraba state is a huge investment destination.

He assured that the bank would assist the state in taking Highland Tea to the global market.

He furthered that the bank is willing to commit funds to the development of tea, coffee and other very viable business opportunities.

He also suggested a partnership that will work on a Memorandum of Understanding on this and other areas of business promotion as requested by Gov Ishaku.

Source: Vanguard