Chairman of Landowners Hints Ondo Government How To Revive Okitipupa Oil Palm PLC

Nov 2, 2018

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Chief Jeje, Chairman of the Landowners Association of Okitipupa Oil Palm PLC, has advised Ondo State government under the leadership of governor Oluwarotimi Akeredolu, to adopt the template submitted to the state government by former Managing Director of the Company, Engr. Omoniyi Ogunwa Oboli, on how the moribund Okitipupa Oil Palm Company could be productive and resuscitated to generate employment for about 10,000 indigenes of Ondo State.

While responding to a telephone interview with Starnews on the situation report of the company, chief Jeje said that the former MD of the company, Engr Oboli, “who happen to be a professional with many certifications in different fields, has already submitted a template, titled: resuscitation and reinvestment plan of OOP Plc”, which he claimed it’s an easy ride to immediately rescue the company from total collapse.

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According to chief Jeje, part of the recommendations were that:

— Goal congruence should be employed by the Stakeholders.

— The company requires new extra fund injection of nothing less than about N10b which can be sorted through an Investor follow by a memorandum of understanding (MOU).

— That the company should be private-profit driven with sincere intention and purpose.

— The terms and conditions of the outdated agreement amongst the Landowners and the host Communities should be revised / reviewed and signed.

— Chief Osomo and Ondo State government should resolve their grievances and settle out of court as a divided management will do more harm than good.

When asked why this was not achieved during the tenor of the former managing director of the company, chief Jeje said no investor was ready to inject their money into the company due to the unresolved misunderstanding between the company’s board chairman, Mrs Osomo, and the state government.

He claimed many Investors are ready to invest if they are given a conducive environment to do so.

He however said the Landowners are considering taking another step to check the unacceptable acts ongoing in the Company while they frowned at the recycling of old Staff with divided interests.