.
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 is a challenge, not just for us but of course to player in this industry but interestingly we are leveraging on some CBN, BOI, NEXIM interventions.
“The shareholders have also invested a huge shareholders capital to finance the project and it is to the tune of N15 billion.
“Our sales strategy is product specific. For our butter, it is 100 per cent export and this industry will be playing a key role in enhancing Nigeria’s foreign exchange challenges.
“We already have buyers for our cocoa butter. We have signed an agreement with countries abroad while for the powder, we are not willing to sell that abroad because we don’t want to package all our fortune here and take them abroad since there is a local demand for the powder
“The Johnvents Cocoa Processing Factory is expected to generate the needed foreign exchange earnings for the country, especially considering the global value of the cocoa market of about $200 billion, while pushing for wide local consumption through our mid-term forward integration agenda.
“Additionally, the factory will be 100 per cent run by local talents with deep transferrable expertise in cocoa processing, which is expected to keep the talent supply chain local and alive.
“Already, 100 persons have been empowered through direct highly-skilled and unskilled jobs, and this will increase to over 300 by the time the factory is at full blast.
Also, speaking, the Manager, Johnvents Industries Limited, Caroline Omotosho, said, “It has been a long time coming and we are delighted with what we have done with the Johnvents Cocoa Processing Factory.
Omotosho added that “The factory is an efficient plant – coupled with having a solid-fired boiler to generate steam and 33KVA electricity supply to significantly reduce overhead cost by over 40 per cent, it is also an automated plant that requires less manpower and operates
at 98 per cent operational efficiency at full blast
She said, “I am confident that this will be a game-changer in the cocoa value chain in Nigeria in terms of revenue generation, local capacity development, job creation, and contribution to the country’s GDP.”
The Cocoa Processing Factory is to be commissioned next week Tuesday, December 7th by the state governor, Rotimi Akeredolu, amongst other dignitaries and industry
stakeholders.
The post Multi-billion naira cocoa processing plant to boost Nigeria’s Export Trade for launch in Ondo appeared first on Vanguard News.
0 Commentaires