‘Nigeria Has Potential to Earn Over $100bn Annually From Coconut Production’ -LASCODA
The General Manager of the Lagos State Coconut Development Authority (LASCODA), Dapo Olakulehin, has highlighted Nigeria’s potential to earn over $100 billion annually from coconut production.
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 underscored the vast economic opportunities within the coconut industry.
Currently, Nigeria produces approximately 300,000 metric tonnes of coconut annually, translating to about $10 billion in business transactions. Olakulehin emphasised that the nation could significantly increase its output and economic gains.
“Nigeria is currently operating close to 300,000 metric tonnes of coconut per annum, representing a $10 billion worth of business transactions in terms of what we are producing now,” Olakulehin said.
“But ultimately, coconut has the potential of operating at $100 billion per annum.”
Olakulehin also praised the efforts of the Lagos State government in boosting coconut production.
“Lagos is the coconut hub in the whole of West Africa due to the interventions of the state government. Just recently, the governor approved the release of 50,000 coconut seedlings to Lagos farmers. A lot of support has been given to coconut growers, processors, and stakeholders. We are also giving certification to some of these processors to export their coconuts across the country,” he noted.
In support of environmental protection, the District Governor of Rotary International, District 9112, Femi Adenekan, discussed the initiative to plant 1,000 coconut trees along the coastal shores of the Atlantic Ocean.
This initiative aims to protect the environment and mitigate climate change impacts.
“We are here to prepare members of the public ahead of our event on Sunday, the 21st of July, where we plan to plant 1,000 coconut trees along the coastal shores of the Atlantic Ocean,” Adenekan said.
“This is an initiative we have taken up to protect us because we often think it is to protect the environment.
We need to prepare ourselves against the calamity before humanity, and this is why we are planting the 1,000 trees along the coastal shores. Our target is to plant 10,000 trees throughout the year.”
Mr. Ehi Braimah, District Chair of the Public Image Committee of Rotary International, District 9112, stressed the urgent need to protect the environment from the devastating impacts of climate change.
“We are focusing on one of the seven areas of focus for Rotary International, which is protecting the environment. We are planning to plant 10,000 seedlings of coconut, mango, or any other seeds all over the state, in public institutions, coastal areas, private estates, schools, and everywhere.”
The Chair of the Tree Planting Committee, District 9112 Rotarian, Rotary International, Gboyega Bada, reiterated the District’s commitment to combating climate change.
He added that the vision for this year is to achieve a safer and cleaner environment by planting 10,000 seedlings of coconut, mango, and other crops with economic, health, and environmental benefits.
