Ondo Commissions N15bn Cocoa Processing Plant For Job Creation

Ondo State governor, Rotimi Akeredolu, has commissioned N15billion cocoa processing plant in a bid to enhance job creation in the state.

The plant known as Johnvents Industries Ltd, is an indigenous Cocoa Processing Plant in the state.

The cocoa farm, he said, will increase the country’s foreign exchange earnings, drive sustainable growth across the entire agricultural value-chain and provide jobs.

The governor, while making the remark at the commissioning of the N15billion Cocoa Processing Plant in Akure, stated that, he would continue to provide an enabling environment for businesses to thrive to create more jobs and drive more Investment.

Akeredolu noted that, “Nigeria is not taking advantage of the cocoa value chain as only about 10 percent of Nigeria cocoa beans is processed into cocoa butter and powder, while the rest is exported.

“We are losing about 90 per cent of our probable revenue from cocoa. I believe that the addition of Johnvents Cocoa will increase the percentage of cocoa beans processed in Nigeria.”

The governor averred that the launch of Johnvents Cocoa Processing Factory is an exciting indicator of the company’s dominance as one of Nigeria’s leading companies in the process of making cocoa production and the rest of agribusiness a profitable sector that significantly contributes to Nigeria’s economic growth and foreign exchange earnings.

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