Dwindling Revenue: Akwa Ibom Turns To Coconut Investment

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By Akanimo Kufre (The New Diplomat’s A/Ibom|C/River Correspondent)

With the construction of the first coconut refinery in the country, Akwa Ibom State government is set to join the global map of exclusive coconut producing destinations to save the state from the economic effect of Covid-19 crisis as revenues continue to dwindle.

The state Deputy Governor, Mr Moses Ekpo emphasized that in line with the global coconut day themed: ‘Invest in Coconut to save the World’, Akwa Ibom State government has spent resources to develop capacity and participation for economic benefit of Coconut.Akwa Ibom Coconut

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“I consider it both appropriate and significant for many reasons, especially in this period of pandemic-induced global economic meltdown which has whittled down global resources to its hardest minimum. I believe that in the face of this economic challenge an investment in the coconut industry could provide the answer to the looming crisis of massive job losses and the fear of another recession in our country.

“This is why the Udom Emmanuel administration in its traditional foresightedness has already conceived and established the St Gabriel Coconut Refinery in Akwa Ibom State,” the Deputy Governor noted.

The Commissioner for Agriculture, Glory Edet who presented coconut seedlings to the farmers restated that coconut has many potentials with multiplier effects on income and industrial growth of any economy.

She observed that Akwa Ibom is recognized as one of the states that have invested in coconuts.

“We have 11, 000 hectares coconut Plantation at Mkpat Enin and in other local government areas of the state.

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“We have the largest coconut refinery in Africa that can process 300,000 coconuts in a day and we celebrate with great enthusiasm to encourage groups and individuals to participate in coconut cultivation.”

The keynote speaker, Professor Nyakudo Ndaeyo, Deputy Vice Chancellor University of Uyo during his speech tagged “Coconut value chain prospects and challenges” explained that inconsistency is the challenge facing agriculture in the state while praying for commitment and consistency towards the coconut plantation and refinery built by Governor Emmanuel.

The Chairman of National Coconut Producers, Processors and Marketers Association of Nigeria (NACOPPMAN) Prince Kingsley Usanga in his goodwill message eulogised Governor Emmanuel for having foresight by turning to coconut as a profitable replacement as the new mainstay,

Also speaking on behalf of the farmers, the Chairman All Farmers Association of Nigeria (AFAN) Akwa Ibom State, Prince Bassey Inwang said, “We want to say that with Dr Glory Edet we have seen the dividend of agriculture in Akwa Ibom State and the completion agenda of His Excellency has touched the agricultural subsectors. The farmers want to assure you their backing to plant coconut. Of course on the 15th of June 2020, AFAN distributed coconut seedlings to selected schools to boost the economy of the state. Today we mandate all farmers to embark on plant coconut so that the coconut factory built by the governor can function maximally.”

In a separate remark, Dr Uyobong Uko, Director Federal Ministry of Agriculture noted that coconut derivative was the toast of cosmetics in his days and assured federal government assistance to Akwa Ibom effort to improve coconut value chain.

“If you grew up in our time you’ll know that nicely smelling coconut oil was the best body cream. Also when I visit Akwa Ibom from Port Harcourt through Mkpat Enin, my favorite pastime is to stop by roadside vendors with my children and we enjoy the fresh liquid and flesh of coconut for almost an hour. Beyond that I must thank His Excellency for pioneering a coconut refinery and has put Akwa Ibom on the map of coconut producers and value chain addition. Let me assured you that as federal ministry of agriculture we will support this state with everything we can to make it a reality.”

High point of the celebration was the presentation of coconut seedlings to the Deputy Governor, Directors from various ministries present and farmers in the state amid cultural displays.

In Africa, Nigeria trails behind Tanzania and Ghana in Coconut production while Akwa Ibom State has now cultivated over 2000 hectares of coconut, built a coconut refinery that demands over 300,000 coconut seeds daily and has employment for 500 field workers so far.

Hamilton Nwosa
Hamilton Nwosa
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

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