A’Ibom commissioner: Coconut plantation is the new cash cow

The Akwa Ibom state government says it is looking into economy without oil by investing in coconut plantation and coconut refinery as coconut oil is the new global cash cow.

Charles Udoh, commissioner for information, said this while speaking on the significance of the twin projects during an on-the-spot assessment tour of St. Gabriel Coconut plantation and St. Gabriel Coconut Oil Refinery on Tuesday.

Udoh said with a barrel of coconut oil selling higher now in the world market than crude oil and the over 300 uses of coconut, it became expedient to dive into coconut plantation/coconut refinery investments for increased revenue.

He said in addition to the revenue that will be accruing to the state from the projects, the plantation and refinery which have already opened up job opportunities for the youths in the state, will on completion create thousands of jobs, create wealth and alleviate poverty amongst the people of the state, the Information Boss stated.

Conducting government officials from information team round the plantation, Ime Johnson, a crop scientist from the University of Uyo, who is the Foreman, said the plantation at the moment is undergoing field maintenance, fertiliser application and organic manure spreading to nourish and boost growth of the coconut plants.

He said the 11,000 hectares coconut plantation situated within Mkpat Enin, Ikot Abasi and Eastern Obolo local government areas, has two million coconut stands, adding that the yields will feed the coconut refinery with a production capacity of one million coconuts per day.

At St. Gabriel Coconut Oil Factory, Alper Yilmaz, the project manager, said work at the refinery was nearing completion, awaiting installation of equipment which was slowed down by the COVID-19 pandemic.

The project manager showed the team round the different sections of the factory, intimating that there are 3 back-up 800 kVA generators and a transformer to ensure 24 hours power supply to the refinery which is already linked to the National grid.

Yilmaz said, at full production capacity, the factory will run a shift of 300 staff which will translate into employment of about 1000 direct workers including professionals like accountants and administrative staff.