Multi-billion naira cocoa processing plant to boost Nigeria’s Export Trade for launch in Ondo

Multi-billion naira cocoa processing plant to boost Nigeria’s Export Trade for launch in Ondo

. Dayo Johnson Akure

An indigenous company, Johnvents Industries Limited is set to launch a multi-billion naira cocoa processing company in Akure, the Ondo State capital to boost the nations export trade.

Johnvents Industries took over the Coop Cocoa factory and invested over N3 billion to revamp the factory.

Speaking with newsmen after a tour of the factory in Akure, the Managing Director of Johnvent Industries, John Alamu said that the 15,000 metric tonnes automated processing plant has the capacity to crush raw cocoa into cocoa liquor, butter, cake and powder for both local and international market.

Alamu said that Nigeria is currently underutilizing its export potential as the sixth-largest exporter of cocoa, with a cumulative volume of only about 245, 000 tonnes, 90 per cent of which is cocoa beans.

While noting that Over 2,000 personnel will be involved in the cocoa supply and export value chain, Alamu said “that more than 15,000 smallholder farmers will be empowered to generate sustainable income and contribute to the national economy,

“There are many factories in Nigeria and there are quite a number of factories in Ondo State but there are only a few operational factories in Ondo State and they are not up to three.

“Most factories produce a cocoa cake, a few produce powder and just about one or two process cocoa into butter. So, here are producing butter for export.

” ln Nigeria we export our cocoa, we consume less and export more, and cocoa is very beneficial to us. We are also going into the business of encouraging Nigerians to consume cocoa pure powder.

“We have also invested in another factory that helps to package this powder in retail into 5 gram sachet and this will make the product available to the rural dwellers.

“Majority of what we have in the market today are the 250 gram. We are coming and injecting more of the 5-gram pure cocoa powder sachet into the market.Speaking on challenges in the industry, Alamu said that “Cocoa is capital intensive and requires a huge investment.” A ton of cocoa today sells at about N1.3m and we consume an average of 35 tons per day. And because we are in the main crop season, you must have raw materials that can take you for 90 days.“Power is also a challenge but today we have a dedicated line and we also have two 1500kva generator and we know what diesel cost is, so funding […]

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