As part of efforts to expand Nigeria’s cocoa output, agric-business firm, GestPoint Nigeria Limited, through its Cocoa RepubliQ initiative has allocated over 100 acres of land for large-scale cocoa cultivation in Shapala Village, ObafemiOwode Local Council, Ogun state.

The firm said the initiative, the first batch allocation wold boost production, create jobs, strengthen the development of the agro-real estate project, enhance Nigeria’s position in the global cocoa market, as well as increase revenue.

The exercise brought together investors who had subscribed to the first phase of the project, providing them with the opportunity to physically identify and take possession of allocated portions of the cocoa plantation.

Speaking on the scheme, the Chief Executive Officer of GestPoint Nigeria Limited, Dr. Ebenezer Akinrinade, said the project’s milestones shows the commitment and the seriousness attached to it, assuring investors that the scheme would continue to progress through plantation development, infrastructure and farm management activities.

As part of the ongoing development, over 40,000 cocoa seedlings have already been planted, reflecting the progress being made towards establishing the plantation and transforming the allocated land into a productive agricultural asset.

The exercise, he said, also created an opportunity for investors to interact with members of the project team, ask questions, and observe the development taking place on the farm.

Cocoa RepubliQ, he noted, is focused on the development of professionally managed cocoa plantations. The firm said ongoing agricultural activities demonstrate that the project is progressing beyond land ownership towards the establishment of a functioning cocoa plantation.

“The project combines land ownership with structured agricultural development, with the aim of establishing productive cocoa plantations, while providing investors with an opportunity to participate in the agricultural value chain. The project continues to progress through plantation development, infrastructure and farm management activities,” he said.