Gov. Babajide Sanwo-Olu of Lagos State, on Tuesday pledged the state government’s support to prospective investors in the coconut value chain of bountiful returns on their investments.
Sanwo-Olu gave the assurance at the maiden two days International Coconut Summit, organised by the State Ministry of Agriculture in Lagos.
The governor also pledged the state government’s readiness to provide the enabling environment necessary to fully harness the potential in the coconut value chain.
The theme of the summit is: “Unlocking the Industrial and Socio-Economic Potential of Coconut”.
The governor was represented by the Commissioner for Agriculture, Prince Gbolahan Lawal.
He said the government would encourage the commercialisation of coconut for both local and export markets through the seed nuts and seedling production and establishment of plantations.
Sanwo-Olu listed other areas to include: seed gardens for certified nuts, arts and crafts production, coconut oil production, coconut flour and flakes production and copra production, among other uses.
He said: “Coconut value chain contributes significantly to the economy of the country, considering the fact that it is being grown in commercial quantity in more than 22 states of the federation.
“Lagos State is paying special attention to this crop, being the largest producer accounting for 70 per cent of the national production.
“As at 2016, Nigeria produced 283,774 metric tons of coconut and this increased to 288, 615 metric tons in 2018.
“With the concerted efforts of Lagos State Government and other stakeholders in the coconut value chain, the yield is expected to increase to more than 400,000 metric within the next three years.”
Sanwo-Olu said Lagos had about two million trees with an annual production of 200 million husked nuts worth about N10 billion.
According to him, the state also has the potential of more than 10 million trees with an annual production of one billion husked nuts worth about N50 billion.
“At present, Lagos is the hub of Coconut value chain, not only in Nigeria, but the entire West Coast of Africa,’’ he said.
Sanwo-Olu said that with oil prices, averaging 63 dollars per barrel this year, thereby leading to uncertainty in the nation’s revenue.
“There was a compelling need for economic diversification, greater emphasis on agriculture in general and Coconut value chain in particular in Lagos state.
“Coconut is one of the greatest gifts of nature to man, because it exhibits a wide range of products, perhaps the most useful tree in the world.
“It grows naturally along coastal terrain and cultivated in about 92 countries of the world such as India, Indonesia, Philippines, Sri-Lanka and Nigeria, among others.
“Lagos State is naturally blessed with a vast Coconut belt made up of 180 km2 (18,000Ha) coastal line and about 703.19 Km2 (70.319Ha) on the Islands,” he said.
The governor listed some of the long term efforts the state government was embarking upon to ensure sustainable coconut production and processing to include: aggressive coconut rehabilitation programme (replanting), and production of improved planting materials.
Others included youth empowerment schemes through the provision of small scale coconut processing equipment and a private sector-driven expansion program on coconut plantations and seed gardens.
“The summit serves as another timely wakeup call to go back to the land and rekindle the interest and values of coconut, and its myriads of products in Lagos and the country in general.
“Over the years, the state government has been involved in the rehabilitation of the coconut belt, massive production of improved coconut seedlings, capacity building and empowerment of coconut value chain actors and production of coconut derivatives on demonstration basis.
“We encourage proliferation of coconut cottage industries for value addition and technological advancement in the coconut value chain in a bid to encourage private investors.
Also, Mr Dapo Olakulehin, General Manager, the State Coconut Development Authority (LASCODA), said that the summit was to create enabling environment for private investors to operate in the coconut value chain.
Olakulehin said the summit would also create a platform where stakeholders would network and suggest ways to bring about good investment in the value chain.
“Today, we have the bankers, processors, producers and marketers here; we are bringing all actors in the coconut value chain together.
“We want to explore the challenges and see how we can surmount it,” he said.
In her goodwill messages, the Coordinator, Federal Ministry of Agriculture and Rural Development in Lagos, Mrs Oladayo Akeredolu, said that Federal Government was happy to support coconut production through the ministry.
Akeredolu said the Federal Government was interested in encouraging Nigerians to invest in the coconut value chain that would be beneficial to the farmers, processors and the nation at large.
“Government has provided two coconut agro-processing machines at Enuko Akoko and Gbagi Asheri, both in Badagry for the coconut processors.
“There is need to increase in the productivity of our coconut trees through implementation of the research findings from our research institutes.
“Therefore, we need the cooperation of farmers to replace the old coconut trees with improved varieties,” she advised.
