- eyes economic transformation O
sun State Government has moved to revive the moribund Cocoa Industry in Ede to drive the state’s economic transformation.
Commerce and Industry commissioner,
Bunmi Jenyo, disclosed this at Newspoint, a media engagement organised by the Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ), Osun State Council, held in Osogbo.
He said that the Governor Ademola Adeleke administration is committed to revamping the cocoa sector, which has already attracted serious interest from multiple investors.
According to him,“We are making steady progress in reviving the Ede Cocoa Industry. Once completed, it will bring about a significant economic turnaround for Osun State”.
He blamed the previous administration of former Governor Gboyega Oyetola, for the decline of the cocoa facility.
Jenyo cited a breach of contract with a Chinese company, which had invested billions of naira and delivered equipment to revive the plant.
He explained that the failure to honour the agreement, coupled with the lack of proper handover documentation, severely hampered efforts to resuscitate the project.
Also he disclosed that the facility was vandalised and set ablaze during the 2020 #EndSARS protests, after it was used to store COVID-19 palliatives and other relief materials by the former administration.
His words, “The previous government signed an agreement with a Chinese firm that brought in equipment worth billions of naira. Unfortunately, during the protests, the warehouses were looted and burnt.
” The situation nearly led to legal action against the state, but I had to step in and renegotiate to avert a lawsuit”.
Jenyo noted that following the successful Osun State Industrial Investment Summit, held in September 2024, the state government has so far signed nine new Memoranda of Understanding (MoUs) with investors interested in the cocoa and agro-industrial sectors.
These partnerships, he said, would play a key role in reviving the cocoa value chain and creating employment opportunities for Osun citizens.
The Commissioner also highlighted the development of the Osun Free Trade Zone, which he said will be supported by essential infrastructure, including healthcare facilities and security outposts, and a dedicated security architecture to ensure safety and investor confidence.
He added that several modern markets have been constructed across the state, further contributing to the growth of local commerce and the broader economy.
Jenyo warned the opposition All Progressives Congress (APC) against actions that could disrupt the peace and economic stability of the state.
He condemned the alleged forceful occupation of local government secretariats by the opposition, describing it as a dangerous move aimed at creating chaos.
“The opposition is jittery ahead of the 2026 governorship election and has resorted to activities that could plunge the state into crisis. Such instability could negatively affect our thriving economy,” he warned.
