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The Governor of Lagos State has unveiled plans to establish three cocoa processing hubs, to increase value addition and bolster foreign exchange earnings through agriculture. Commissioner Folashade Ambrose-Medebem, representing Governor Babatunde Sanwo-Olu, disclosed this initiative during the International Cocoa Forum held in Lagos.
Lagos State acknowledged as a trade hub for value addition, intends to capitalize on its strategic geographical position and robust infrastructure to become a central hub for cocoa processing and trade.
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Governor Sanwo-Olu expressed confidence in Lagos becoming a pivotal location for exporting processed cocoa products globally, leveraging its ports and efficient transportation network.
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The plan involves establishing three major cocoa processing plants in Lagos, each with an annual processing capacity of 10,000 metric tonnes, aiming to increase cocoa processing in the country by 40% by 2026.
The state also plans to train over 20,000 farmers and small-scale enterprises through various intervention programs.
Nigeria, the world’s fourth-largest cocoa producer, has experienced a decline in the value of its global crop supply due to exporting the bulk of its cash crops in raw form, limiting its potential for non-oil exports.
Governor Ademola Adeleke of Osun State commended the efforts of the Western Region Development Initiative in reviving this crop’s production.
He stressed the need for a regional approach and partnerships with research institutes to enhance the value addition and processing of crop products.
Osun State, currently producing 22,000 metric tonnes annually with a capacity of 80,000 metric tonnes, considers returning to old cash crops with deep value additions and processing to finished products as crucial. this cash crop 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 industry, encouraging collaboration, and positioning the region as a hub for product processing and trade.
