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Whereas Coconut farming is still at its development in Nigeria and Delta state in particular, in the long run, it promises great, potential commercial value and revenue spinner .

Delta state Coconut Development Programme (DESCODEP), Ogbuiji, Hon. Chief, Aneke Ifemeni made the assettion in an exclusive interview with FIDELITYREPORTERS.COM in Asaba, the state capital.

Ogbuiji Ifemeni who is also the Senior Special Assistant to the Governor on Agriculture said Coconut oil and Bricket, which are part of the derivatives can generate well over $100m yearly revenue in export to the state economy when it come on stream.

According g to him, one litre of coconut oil currently sells for $9000 which cannot be compared to same quantity of crude oil in the international market.

He told Fideityteporters that the project when fully developed will provide livelihood for more than 500,000 families, mainly women and youths and take them out of violence and crime.

He debunked the fears expressed about the sustenance of the programme and explained, “unlike previous government ventures this programme cannot be abandoned because it has higher revenue potentials, comparable only to Crude oil”.

From available data, he claimed that coconut is grown in well over 22 states of the federation with Lagos State being the largest producer, stressing that the aggregate of its product will provide alternative solid revenue base for the states.

Other major producing states include; Ogun, Edo, Ondo, Delta, Akwaibom state, which now has coconut oil extracting industry, Rivers, Cross Rivers, Imo and Benue States.

He said that the state Governor, Senator, Dr Ifeanyi Okowa is committed to revamping the sector by supporting interested farmers in the sector through capacity building. So far, Delta state has acquired 40 hectres of arable land for the programme and still calling for more partnership.