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Efforts by the Osun State Government to attract investors to the state may have started to yield positive result, as the Cocoa Processing Industry (CPI), Ede, has bounced back to production.
The firm, which had been moribund for many years, and the only industry inherited by Osun State from the old Oyo State, was able to resume production through partnership between the Golden Monkey of China, and State Government.
With the installed new facility, the firm was able to employ 200 workers, and raised the production capacity by 400 per cent.
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Presently, the company is processing 20,000 tonnes of Cocoa into liquor for both local and international consumption.
The State Commissioner for Industry, Commerce, Cooperatives and Empowerment, Ismail Jayeoba Alagbada, said CPI now processes and refines cocoa from harvest to products of high standard and for export.
He said the development is part of the industrialisation plan of the current administration to put the company into effective use for optimum performance.
Alagbada noted that the gesture has yielded positive results, adding that CPI will soon begin the production of cocoa powder and cocoa cake.
He said Osun is holding 30 per cent equity in the revitalised firm. “Through this partnership, many people in Osun would learn the trade of cocoa processing; the possibilities are just endless. At least, now, our people know that more value accrues to them if they process cocoa rather than exporting in its raw form,” the commissioner stated.
He disclosed that CPI planned to expand capacity in the few months.
