Transnational Corporation of Nigeria Plc (Transcorp) is on the verge of expanding the group’s agricultural business after concluding an agreement to establish a large-scale commercial farming business in Benue state.

Teragro Commodities Limited, the farming subsidiary of Transcorp, has signed a memorandum of understanding (MoU) with the Benue State government to lease land in Ushongo Local Government Area. This, it will use to kick-start a large-scale commercial farming business across the state. It had been previously confined to the state’s capital, Markurdi, where it launched a fruit processing plant in 2012. Located on a hectare of land in Makurdi Industrial Estate, the plant has an annual capacity of 26,500 metric tonnes.

Since the opening of the plant, citrus farmers and pineapple growers have found a ready market for their produce as most farms fell to wastages of fruits. This was due to the lack of a processing facility in the state.

The Transcorp facility now produces fruit concentrates and supplies a host of leading international beverage manufacturers with juice making materials. The agricultural business has also risen to the challenges of transport and lack of storage facilities in the country in order to boost commercial activities.

Benue State produces one million metric tonnes of citrus fruits per annum, but has struggled to transform that into a decent income generating source.