The National Coconut Producers, Processors, and Marketers Association of Nigeria (NACOPPMAN) has disclosed Nigeria can generate over N10 Billion every year from farmers and agro-business entrepreneurs in the coconut subsector.
President of the Association, Nma Okoroji, stated the need to develop coconut production, processing, and marketing, saying coconut is one of the valuable cash crops in the agricultural sector.
According to her, coconut value addition has the potential of developing the nation’s economy through foreign exchange earnings.
Okoroji said coconut is very viable and can be found in 32 states of Nigeria. She further mentioned when fully harnessed,10 Million coconut trees can manufacture over a billion husked nuts a year, generating a profit of over N45 billion.
Okoroji noted the barrel price of extracted coconut oil appreciates more than other agric commodities in the country and in addition coconut plantation allows mixed cropping.
The National Association of Coconut Producers, Processors and Marketers Association of Nigeria (NACOPPMAN) is one of the 10 agricultural commodities associations, inaugurated by the Federal Government recently to enhance agribusiness activities in the local and foreign markets.