A former chairman, Ondo State Cocoa Revolution Project, Dr. Jibayo Oyebade, has said that if government can give adequate attention to cocoa production in Ondo State, the sector is capable of generating billions of naira as revenue for the state.
Ajibade, a former commissioner for agriculture in the state, made the disclosure in Akure.
He described the cocoa industry as capable of generating mass employment in Ondo State and Nigeria at large, saying that going by its value chain, about four million workers would be required to work on cocoa production, from the farm to the end users.
He said the state had the capacity and resources to increase its current 70,000 tonnes per annum to 150,000 tonnes.
According to the expert, Ondo State’s current 70, 000 tonnes per annum being produced at an average of N750, 000 tonnes per ton would increase to about 150, 000 tonnes per year, if the industry was properly harnessed and tapped by the state government.
“The sector is capable of generating millions of employment opportunities for government in Ondo State and Nigeria at large.
“For now, we are producing over 250, 000 metric tonnes per year in Nigeria. If properly harnessed as the Nigeria Export Promotion Council is planning, within the next two to four years, the production will increase to between 450, 000 to 500, 000 tonnes per annum and this will bring billions of naira to government as revenues.
“If you multiply N1m per tonnes which was the price three years ago, you will know the huge sum of money that can be realised from cocoa. Right now, the price is N750, 000 per tonnes but this largely depends on the price of the commodity in the world market.
“With the intervention of the federal and state governments through Nigeria Export Promotion Council, the production of cocoa will increase,” he noted.
