IKOM – Senator John Owan-Enoh,
Minister of State for Industry, Federal Ministry of Industry, Trade & Investment, announced on Monday that the federal government has signed over 100 Import Duty Exemption Certificates (IDECs) in the past three months.
The revelation came during a facility tour of the Ikom Cocoa Processing Factory, followed by a roundtable discussion with management of AA Universal Beans and Co. Ltd.
“Since I became Minister of State for Industry, I have signed hundreds of approvals for IDECs for companies like yours that may want to import machinery for their work,” Enoh stated.
He emphasised that various government incentives are in place to support industrial growth, adding, “There are things you don’t pay. There are incentives in place.” The Minister also highlighted the role of the Bank of Industry (BOI), which falls under his mandate, in facilitating these initiatives.
During his recent tour of industries in the South West, Enoh recounted how numerous managing directors of manufacturing companies lauded BOI for the support they had received. “The ministry will grant you exemption,” he noted, urging companies to take advantage of the available incentives.
At the Ikom facility in Cross River State, the Minister urged the management of AA Universal Beans and Co. Ltd. to ensure that the cocoa processing factory remains fully operational.
“I need to be sure that we have a factory in Ikom that is fully functional, an industry that has the capacity to absorb the cocoa that can no longer be taken out of Ikom,” he said. Enoh stressed that a fully operational cocoa industry would add value to locally produced cocoa, preventing its raw exportation from Etung, Boki, and Ikom.
Chief Chris Agara, Chairman of AA Universal Beans and Co. Ltd., speaking on the theme “Making Cocoa a Revolution,” assured the Minister of the firm’s readiness to comply with international standards.
“We want to process our cocoa in Cross River State. We want to create an identity for our cocoa,” Agara said, noting that establishing a robust local processing system would help track production data and ensure that the benefits of value addition are felt locally, rather than in states like Lagos, Owo, or Ondo.
Agara also highlighted the potential social impact of the project, revealing that the factory could generate up to 500 jobs for unemployed youths. “We are going to begin to buy cocoa pods from farms, remove child labour, among other improvements. Cocoa workers—often women and children—will no longer be deprived of education,” he added.
The initiative, he suggested, would ensure that farmers receive better compensation for their produce while transforming the cocoa value chain in the region.
In a media chat in Calabar on Monday, the state governor, Sen. Bassey Otu, said the cocoa industry is worth N800 billion, adding, “We are making progress in the Ikom Cocoa Processing Factory, we are trying to privatise some, we are also trying to establish more coca farms.”
With robust government backing and a slew of incentives, stakeholders remain optimistic that the Ikom Cocoa Processing Factory will serve as a catalyst for local economic development, boost value addition in the cocoa sector, and pave the way for further industrial growth across Nigeria.