Paragraph 1: The Call for Revival and Economic Potential
John Uwan-Enoh, Nigeria’s Minister of State for Industry, Trade, and Investment, has urged the revitalization of the dormant Cross River Cocoa Processing Factory located in Ikom. He emphasized the significant economic potential of the facility, projecting the creation of 5,000 jobs and an annual contribution of approximately $6.8 million to the Nigerian economy if operations are successfully restored. This call to action stems from a visit to the Ikom facility, during which the minister underscored the historical importance of cocoa in the region and its potential to drive both local and national economic growth. The minister’s visit signifies a renewed focus on leveraging existing infrastructure to stimulate employment and boost revenue generation.
Paragraph 2: Historical Context and Political Significance
Uwan-Enoh, originating from a region rich in cocoa estates established during the South Eastern Regional Government era, acknowledged the politicization of the cocoa industry and its associated factories. He differentiated the Cross River facility as representing a genuine effort towards economic development, highlighting his visit as a crucial step towards understanding the factory’s current operational status and charting a path towards its revival. This recognition of the historical context and the desire to move beyond political obstacles underlines the minister’s commitment to pragmatic solutions for economic advancement.
Paragraph 3: Public-Private Partnership and International Collaboration
The minister revealed that the company currently managing the cocoa processing facility has approached the Ministry of Trade and Investment, seeking collaboration through a public-private partnership. Uwan-Enoh welcomed this initiative, aligning it with his advocacy for cocoa processing in both national and international forums. This highlights the potential of public-private partnerships to drive industrial growth and the government’s willingness to engage in collaborative ventures. The minister’s focus on cocoa processing in international engagements underscores the potential for this revitalized industry to contribute to Nigeria’s export market and global trade relations.
Paragraph 4: Project History and Government Commitment
The Cross River Cocoa Processing Factory, a N7 billion project initiated in 2017 by former Governor Ben Ayade, was initially projected to commence operations by early 2018. The minister’s visit signals a renewed commitment by the current administration to revitalize this stalled project and capitalize on its economic potential. Uwan-Enoh reassured stakeholders of the government’s dedication to fostering an environment conducive to industrial development, job creation, and overall economic viability, further emphasizing the government’s commitment to supporting private sector initiatives that align with national economic goals.
Paragraph 5: Value Addition and Market Stability
Chris Agara, Chairman of AA Universal Bean and Co Ltd, the company operating the facility, expressed optimism about the industry’s potential resurgence under the current administration’s leadership. Agara emphasized the strategic focus on exporting processed cocoa products rather than raw cocoa beans. This value-addition approach aims to mitigate price fluctuations inherent in the international cocoa bean market. Processed cocoa products like cocoa butter, liquor, and powder offer price stability, providing a more secure and predictable revenue stream compared to the volatile bean market, thus enhancing the long-term financial viability of the venture.
Paragraph 6: Operational Timeline and Future Projections
Agara provided a timeline for further development, promising a second line of processing machines within 24 months. He attributed the current lull in activity to the seasonal slowdown in cocoa harvesting, assuring the minister that future visits would reveal a fully operational facility. This commitment to a clear timeline and the expectation of future growth demonstrate the company’s confidence in the project’s viability and its potential to contribute significantly to the local economy and the broader cocoa processing industry in Nigeria. The anticipated expansion, with the addition of a second processing line, further solidifies the long-term vision for the facility and its potential for increased production and job creation.
