The Special Adviser to the Governor of the State of Osun on Commerce, Co-operatives and Investment, Dr Olalekan Yinusa, disclosed that over one billion naira has been committed to resuscitating the Cocoa Industry in Ede.
He disclosed this while responding to the request of the Timi of Edeland, Oba Adesola Lawal, on the need to revamp the moribund company at the Ede Federal Constituency Edition of Gbangba D’ekun in Ede.
According to him, the abandoned industry would soon commence operation with state-of-the-art equipment available in any part of the world.
He explained how the Aregbesola administration saved the state from being cheated by the investors invited to partner with the state by the previous administration in the state.
Yiusa said initially, the industry was valued at N153 million by the investor, hence, conceded only 15 per cent of the total value of the industry to the state.
However, upon assumption of office, government set up a committee with the representatives of the investors as members and the industry was revalued by the same investors to the sum of N478 million.
He added that the Company’s Board of Directors is headed by an Ede indigene to guarantee employment opportunities for the teeming residents of the town.
According to him, the governor has given approval for the investors to commence work on the company, assuring the monarch that the plant would commence operation soon.