COCONUT COMMERCIALZATION AND PROPAGATION IN NIGERIA

As part of our commitment to developing the coconut economy in Nigeria, Coconut Venture Hub.ng Limited requested a collaboration with the Federal Government of Nigeria, through the Federal Ministry of Agriculture and Food Security to promote a national coconut development programme. The idea is to increase the current production position, which places Nigeria at 19th in the global ranking, producing a paltry 265,000 metric tons, whereas the nation has a demand of over 5 million metric tons.

Despite the huge potentials, total local production can only meet about 20% of national demand. As a result, the country has continued to import coconut in increasing quantity yearly.  

The demand for coconut is increasing in the local and global market and with a well-coordinated and propagation programme; Nigeria can compete favorably in coconut production to ensure self-sufficiency, job/wealth creation, increased income generation and poverty reduction.  

After the partnership agreement with the Federal Government, Coconut Venture Hub.ng limited kick-started the NATIONAL COCONUT DEVELOPMENT & PROPAGATION INITITIAVE, (NATCODEV), to plant and nurture 100 million trees to achieve 3 million metric tons in 5 years. This will create over 5 million sustainable jobs and generate over N8trillion when it begins to fruit at the 3rd year. Moreover, the two species of coconut; Hybrid tall and Dwarf has a lifespan of 80 years and 50 years respectively.