The Edo State Government has expressed strong interest in expanding the operations of WACOT Limited’s fertilizer plant in Auchi as part of its strategy to create more jobs and increase revenue generation across the state.
The Commissioner for Business, Trade and Investment, Hon. Omoh Anabor, made this known during a meeting with the Managing Director of WACOT Limited, Mr. Naveen Chaurasia, and his team during a visit to the ministry.
Anabor explained that the state government sees significant potential in the expansion of the fertilizer plant and is ready to support initiatives that will strengthen investment and economic growth.
He emphasised that Edo State remains a strategic location for business expansion and encouraged the company to consider scaling up its operations beyond its current production focus.
According to him, the government’s priority is to ensure that investors operating in the state succeed, as their growth will directly translate into employment opportunities for residents.
“Our priority as a government is to ensure that investors thrive because their success creates jobs and empowers local communities,” Anabor said.
He further noted that the government is open to working with the company on new investment ideas that will expand its operations and contribute to the state’s economic development.
“There is room to broaden the company’s scope into other viable business areas, and we encourage WACOT Limited to submit proposals for expansion and collaboration,” he added.
Responding, the Managing Director of WACOT Limited, Mr. Naveen Chaurasia, appreciated the continued support from the Edo State Government and expressed the company’s willingness to deepen its partnership with the state.
He noted that the fertilizer sector has experienced challenges in recent years due to low commodity prices, reduced purchasing power among farmers, and global market pressures that affected demand.
Despite these challenges, Chaurasia said the company remains optimistic about growth and is already implementing strategies to improve marketing, explore new opportunities, and increase utilisation of its existing production capacity.
