GestPoint allocates 100 acres for large-scale cocoa farming in Nigeria
The Cocoa RepubliQ project has planted more than 40,000 cocoa seedlings as investors take possession of allocated plantation plots in Ogun State.
NIGERIA – GestPoint Nigeria Limited, an agribusiness firm, has allocated more than 100 acres of land for large-scale cocoa cultivation in Shapala Village, Obafemi Owode Local Council, Ogun State, through its Cocoa RepubliQ initiative.
The company said the first batch allocation is expected to boost cocoa production, create jobs, support the development of its agro-real estate project, strengthen Nigeria’s position in the global cocoa market and increase revenue.
The exercise brought together investors who subscribed to the first phase of the project, allowing them to physically identify and take possession of their allocated portions of the cocoa plantation.
Speaking on the project, GestPoint Nigeria Chief Executive Officer Dr Ebenezer Akinrinade said the milestone demonstrated the company’s commitment to the initiative and assured investors that development would continue through plantation development, infrastructure and farm management activities.
More than 40,000 cocoa seedlings have already been planted as part of the ongoing development, reflecting progress towards establishing the plantation and converting the allocated land into a productive agricultural asset.
Akinrinade said the exercise also provided investors with an opportunity to interact with the project team, ask questions and observe agricultural activities taking place on the farm.
Cocoa RepubliQ is focused on developing professionally managed cocoa plantations, according to GestPoint. The company said the ongoing agricultural activities demonstrate that the project is progressing beyond land ownership towards establishing a functioning cocoa plantation.
“The project combines land ownership with structured agricultural development, with the aim of establishing productive cocoa plantations, while providing investors with an opportunity to participate in the agricultural value chain,” Akinrinade said.
“The project continues to progress through plantation development, infrastructure and farm management activities,” he added.
GestPoint said the Cocoa RepubliQ initiative is being developed around structured agricultural activities, with the plantation development programme forming part of its efforts to establish a commercially managed cocoa farming project in Ogun State.
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