Firm processes 5,000 metric tonnes of cocoa to drive foreign exchange revenue
To increase Nigeria’s foreign exchange earnings across the country, Johnvents Industries Limited has processed about 5,000 metric tonnes of cocoa for export, six months after its unveiling in Ondo State.
The Managing Director, John Alamu, who spoke at a stakeholder meeting at the weekend, said: “Cocoa cake and cocoa butter are the two major derivatives of cocoa processing business at Johnvents Industries.”
Alamu explained the products are for export to Europe, the US, and some parts of southern Africa, and over three billion naira to revamp and kick-start operations.
According to him, “we promised at the launch to help to realise Nigeria’s cocoa export potential, estimated to the tune of $4B – $5 billion.”
However, he said the firm’s capacity utilisation had moved from 20 per cent in December 2021 to 66 per cent in May 2022.”
Continuing on the feats of agribusiness, Alamu added that “At the beginning, we envisioned massive job creation for the indigenous talents and engaged over 200 people working at the cocoa processing factory, part of whom are top talents in the industry with a world-class experience.”
Commenting on the new development integration agenda, the Manager, Business, Sales, and Operations of the firm, Caroline Omotosho, revealed that Johnvents was committed to impacting the global ecosystem with sustained value to the local value chain within a short time.
She said: “As we have been able to achieve impressive growth in our products within a short window, we are excited about the audacity of our forward and backward integration plan and what it means for the industry.”
Meanwhile, the firm has embarked on empowering 150,000 farmers through its cocoa sustainability programme in Ondo State.
The Managing Director, Mr John Alamu, disclosed this at the commissioning of Project 150,000 Farmers in Akure on Thursday.
Alamu said the project was geared toward transforming the country’s agricultural sector, especially the cocoa value chain, and creating sustainability in the sector.
According to him, “Through sustainable agriculture, farmers can produce better crops, fight and adapt to climate change, increase their productivity and achieve better lives for themselves.
“In line with the Rainforest Alliance Sustainable Agriculture Standard (RA) 2020, we are honoured to launch our cocoa sustainability programme, which mirrors the thematic goals of the Rainforest Alliance of improving the livelihoods of producers.”
He added that the drive was also to “protect the rights of farm workers and their families, avoiding the destruction of nature and biodiversity, and mitigating the consequences of climate change.
“This project aims to empower 150,000 farmers covering about 300,000 hectares of farmland in rehabilitation, regeneration and replanting of cocoa trees over the next five to 10 years.”