Governor Adeleke Woos International Investors for Osun’s Cocoa Industry

In a bid to attract international investors to the untapped potential of the cocoa industry in the state, Governor Ademola Adeleke of Osun State has made a compelling case for the region’s cocoa production.

Speaking at a global gathering of cocoa sector investors in London on Wednesday, the Governor highlighted the richness of the state’s brand of cocoa and the opportunities it presents for investors.

Adeleke emphasized that the state is a major cocoa belt in Nigeria and that its cocoa is the traditional species, which has the best taste in chocolate and related products.

This, he said, makes the brand much sought after by end users, providing investors with a guarantee of returns for their investments.

The Governor acknowledged the challenges faced by the cocoa sector and outlined his administration’s proactive steps towards overcoming these obstacles.

He unveiled the Osun Cocoa Revival Agenda, launched earlier this year, which aims to rejuvenate the industry and foster sustainable growth.

Key initiatives under the agenda include reviving the state-owned cocoa processing industry, establishing high-yielding cocoa nurseries across local governments, rehabilitating old cocoa plantations, and engaging young farmers to expand production capacity.

The Governor also emphasized the importance of protecting cocoa farms from destructive activities and fostering innovation through partnerships with agencies such as the National Agency for Science and Engineering Infrastructure (NASENI) and with the Cocoa Research Institute.

In addition to the potential for investment in the cocoa sector, Governor Adeleke highlighted the measures taken by his government to enhance the ease of doing business in the state.

These measures include an end to multiple taxation, facilitation of access to land, and simplification of the approval system.

The Governor called on business friends in the United Kingdom, Europe, North America, and other regions to partner with the state for mutual interest in the cocoa sector.

He emphasized that the state is open to investors who are interested in the value chain of the cocoa sector and in shareholding in existing cocoa ventures.

With a strong focus on collaboration and support, Governor Adeleke stated that his government is willing to facilitate government to government, government to business, and business to business arrangements.

He encouraged potential investors to seize the opportunities presented by the region’s cocoa production and work together to unlock its vast potential.