Johnvents Industries Nigeria Ltd, an agro-allied company, has announced that it has spent N3 billion to improve the cocoa industry in Ondo State and Nigeria.
According to reports, the corporation bought a cocoa facility in Nigeria from the previous owner earlier this year.
Mr. John Alamu, the company’s Group Managing Director, told reporters in Akure, the capital of Ondo State, said the company was in the cocoa business to make a difference.
Governor Rotimi Akeredolu would inaugurate the company next week, he said.
Alamu said: “We acquired the factory from Olam. Olam was the last tenant here and the factory belongs to Coop Cocoa. The nature of acquisition is this; the building belongs to Coop Cocoa, while we had 100 per cent acquisition of all the equipment of the factory.
“We came in, in April and since we came in, we have invested over N3billion in revamping the entire factory. This investment has been in the area of upgrade of some machinery, complete overhaul of some machinery. There has been a whole lot of development, this is not what this place used to be months ago. We have also invested a lot of money in procurement of cocoa beans.”
