The Lagos State Governor has unveiled plans to establish three cocoa processing hubs, aiming to enhance value addition and boost foreign exchange inflows through agriculture. Commissioner Folashade Ambrose-Medebem, representing Governor Babatunde Sanwo-Olu, announced this initiative during the International Cocoa Forum in Lagos.
The state, recognized as a trade hub for value addition, intends to leverage its strategic geographical position and robust infrastructure to become a central hub for cocoa processing and trade. Governor Sanwo-Olu expressed confidence in Lagos becoming a pivotal location for exporting processed cocoa products globally, given its ports and efficient transportation network.
Governor Sanwo-Olu outlined the plan to establish three major cocoa processing plants in Lagos, each with an annual processing capacity of 10,000 metric tonnes. The goal is to increase cocoa processing in the country by 40% by 2026. The state plans to train over 20,000 cocoa farmers and small-scale enterprises through various intervention programs.
Nigeria, the world’s fourth-largest cocoa producer, witnessed a decline in the value of its global cocoa supply. The country exports the bulk of its cash crops raw, hindering its potential for non-oil exports. Governor Ademola Adeleke of Osun State commended the efforts of the Western Region Development Initiative in reviving cocoa production. He emphasized the need for a regional approach and partnerships with research institutes to enhance the value addition and processing of cocoa products.
Osun State, with the capacity to produce 80,000 metric tonnes annually, currently produces 22,000 metric tonnes. Governor Ademola emphasized the importance of returning to old cash crops with deep value additions and processing to finished products. Cocoa remains a major source of earnings for the state, contributing significantly to the state treasury.
The Lagos State initiative aligns with the broader goal of transforming Nigeria’s cocoa industry, encouraging collaboration and positioning the region as a hub for cocoa processing and trade.
