Coconut Production In Nigeria Could Yield $100 Billion Each Year – LASCODA

Coconut Production In Nigeria Could Yield $100 Billion Each Year – LASCODA....KINDLY READ THE FULL STORY HERE▶

Dapo Olakulehin, General Manager of the Lagos State Coconut Development Authority, has announced that Nigeria has the potential to generate over $100 billion each year from coconut production……… CONTINUE READING

Speaking on Monday during the 2024/2025 Rotary tree planting coastal restoration initiative, which aims to plant 1,000 coconut seedlings in Lagos and Ogun states, Olakulehin highlighted that Nigeria currently produces nearly 300,000 metric tonnes of coconut annually, translating to about $10 billion in business transactions.

He emphasized that with proper support and investment, Nigeria’s coconut industry could thrive at $100 billion per year.

“Nigeria is currently operating close to 300,000 metric tonnes of coconut per annum, representing $10 billion worth of transactions, but we have the potential to scale to $100 billion annually,” he stated.

Olakulehin praised the Lagos State government for its ongoing efforts to enhance coconut production, processing, and commercialization, positioning Lagos as the coconut hub of West Africa. He noted that the governor recently approved the release of 50,000 coconut seedlings to local farmers, demonstrating strong support for growers and processors.

Femi Adenekan, District Governor of Rotary International, District 9112, also spoke about the initiative to plant 1,000 coconut trees along the Atlantic Ocean’s coastal shores, aimed at environmental protection.

“This effort prepares the public for our event on Sunday, July 21, where we plan to plant these trees. Protecting the environment is crucial, as our actions directly impact it,” Adenekan remarked, adding that their goal is to plant 10,000 trees throughout the year.

Ehi Braimah, Chair of the Public Image Committee of Rotary International, underscored the urgency of addressing climate change through environmental initiatives, highlighting that the planting of coconut and mango seedlings will occur across various locations in the state.

Rotarian Gboyega Bada, Chair of the Tree Planting Committee, reiterated the District’s commitment to combat climate change and promote a cleaner environment through these initiatives.