Rivers State Government, has finally signed a Memorandum of Understanding (MoU) with an Israeli-based firm, LR Group Limited for a multi-billion naira 2000-hectare farm in Etche Local Government.

Rt. Hon. Chibuike Rotimi Amaechi has reaffirmed his administration’s determination to make agriculture one of the mainstay of the state economy and rapidly develop an agro-based economy that would compete favourably with the oil industry in the state.

Speaking during the signing of a Memorandum of Understanding (MOU) yesterday at Government House, Port Harcourt, Governor Amaechi said the development was part of the effort by his administration to de-emphasise reliance on oil economy to an agro-based economy.

“I will continue to tell the State that we are investing in agriculture to create employment, and also to diversify our economy from just oil to also have an agricultural based economy”, Amaechi said.