Osun State Commissioner for Commerce and Industry, Bunmi Jenyo has said the state would experience significant turnaround once efforts at reviving the Cocoa Industry are successfully completed.
Jenyo disclosed that the administration of Governor Ademola Adeleke is committed to revamping the Cocoa Industry, located in Ede community, adding that the ministry has engaged many investors who have declared interest in the money spinning industry.
The Commissioner made this known while featuring at a programme tagged ‘Newspoint’, which was organised by the Correspondents’ Chapel of the Nigeria Union of Journalists, Osun State council, Osogbo, on Thursday.
Jenyo hinted that efforts were underway to revive the cocoa industry, explaining that the immediate past administration of Gboyega Oyetola contributed significantly in stalling the viability of the cocoa industry.
He identified the alleged breach of an agreement between the immediate past government and a Chinese firm as a major factor obstructing the industry’s resuscitation efforts.
According to him, the facility was also vandalised and razed by hoodlums during the 2020 EndSARS protest, due to the storage of food palliatives and other essential commodities in its warehouses by the administration of ex-Governor Gboyega Oyetola.
“Moribund Cocoa Industry in Ede saddens my mind. We didn’t receive a handing over note from the immediate past government. The previous administration signed an agreement with a Chinese company which invested billions of naira and even brought equipment.
“The former government kept palliative items inside the Cocoa Industry warehouse, but during the EndSARS protest, the industry was looted, leading to the burning of the facilities, including the equipment brought by the Chinese company to revive the industry.
“When this administration came on board, I had to intervene and negotiate with the Chinese company, a development which saved the state from being sued. I saved the state from the litigation that may have cost billions of naira,” Jenyo said.
He, however, hinted that no fewer than nine Memoranda of Understanding had been signed by the state government with investors after the Osun State Industrial Investment Summit, held in September 2024.
Commenting on Osun Free Trade Zone, Jenyo further disclosed essential social amenities, such as hospitals and security posts, will be provided for the benefit of the people, stressing that “there will be special security architecture to guarantee safety in our Free Trade Zone.”
The Commissioner revealed that several modern markets have been constructed across the state which have been contributing to the economy of Osun.
He warned the opposition All Progressives Congress against disrupting the peace of the state through forceful occupation of local government secretariats in the state, saying the development was capable of affecting the economy of the state negatively.
According to him, the opposition party was already jittery of defeat ahead of the 2026 governorship election, a reason why it has been embarking on activities that could cause crisis in the state and plunge its thriving economy into ruins.