Ekiti Targets N19 Billion From Cocoa Farming

Ekiti state government on Tuesday said it has concluded arrangements to establish an additional five hectares of Cocoa plantations in the state, saying the investment could help the state to rake in about N19 billion in ten years.

Making the disclosure in Ado Ekiti, the state capital, the State Commissioner for Agriculture and Rural Development, Hon. Kehinde Odebunmi , said that going by the current market price, Cocoa Farmers in the state would rake in about N18.9 billion within the same period .

He said the state is expected to make a revenue of about N135 million at the same time from grading and other sundry fees.

Odebunmi explained that the new plantations would complement the five hectares established last year at Ado, Iye and Eporo Ekiti as well as the old three hectares at Eyio and Ado- Ekiti to achieve the target.

The Commissioner explained that the focus is to produce new Cocoa hybrids with distinct generic capacity for high yield that is resistant to pests and diseases and has low gestation, noting that first pod production could be achieved within 18 months of seedling establishment.

Reiterating the commitment of the Fayose led administration to food security as well as using agric sector to boost the economic base of the State and reducing its dependence on the dwindling income from the federation account, Odebunmi noted that government earmarked a sum of N230 million for land bank development in the 2017 budget while N45 million was set aside for Cocoa rehabilitation and another N20 million for Cocoa seedling production.

He solicited the continued support of all stakeholders for efforts and developing the state, stressing that government could only achieve the desired goals with the unflinching support of all and sundry.