An indigenous company, Johnvents Industries Limited is set to launch a multi-billion naira cocoa processing company in Akure, the Ondo State capital to boost the nations export trade.
Johnvents Industries took over the Coop Cocoa factory and invested over N3 billion to revamp the factory.
Speaking with newsmen after a tour of the factory in Akure, the Managing Director of Johnvent Industries, John Alamu said that the 15,000 metric tonnes automated processing plant has the capacity to crush raw cocoa into cocoa liquor, butter, cake and powder for both local and international market.
Alamu said that Nigeria is currently underutilizing its export potential as the sixth-largest exporter of cocoa, with a cumulative volume of only about 245, 000 tonnes, 90 per cent of which is cocoa beans.
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