FG aims to enhance cocoa value chain in Cross River

To promote industrial growth and strengthen the partnership between government and the private sector, the Minister of State for Industry, Senator John Owan Enoh, visited AA Universal Bean and Co. Ltd in Cross River State, acknowledging the private sector as pivotal for economic advancement.

This visit aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda and aims to tackle key issues while creating opportunities within Nigeria’s cocoa processing sector.

The minister highlighted the importance of greater government support for local industries and detailed ongoing initiatives to finalize policies that will protect and encourage domestic manufacturers.

“I come from a local government where all four Cocoa estates established by the South Eastern regional government are located. For a long time, the Cocoa industry and its factories have been political issues. I believe this facility represents a genuine effort, and my visit is to understand its current operations.

“The company that operates this facility has reached out to my ministry for collaboration through a Public Private Partnership. As the minister for state for industry, I recognize this as crucial, as I’ve consistently raised the issue of cocoa processing in my international engagements and in Abuja. That’s why I am here today, and I’m pleased to have made this visit.”

Sen. Enoh assured industry stakeholders of the government’s dedication to creating a conducive environment for industrial development, job creation, and economic viability.

Chief Chris Agara, Chairman of AA Universal Bean and Co Ltd, expressed optimism about the industry’s future under the current administration.

“I’m thrilled to thank the Honourable Minister for his significant visit today, especially on such short notice. We hope to capitalize on this momentum for the benefit of the community.

“I want to promise that in 24 months, we will have a second line of processing machines operational; we’ve already made substantial progress on sourcing and studies for these facilities. Currently, Cocoa harvesting has slowed, which is why there appears to be less activity here, but by your next visit, you’ll see operational facilities.

“As I mentioned, our focus is on exporting processed cocoa rather than cocoa beans. This is because cocoa bean prices are subject to fluctuations dictated by international buyers, while processed cocoa products like cocoa butter, liquor, and powder maintain stable pricing regardless of bean price variations. We aim to leverage this and enhance our value addition,” he stated.