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The figure is the highest agricultural contributor to Nigeria’s gross domestic products for the period.The Group Managing Director, Johnvents Industries Limited, John Alamu, while addressing journalists in Akure, said the IFC’s $23.3 million financing package includes local currency funding in Nigerian Naira, which will allow Johnvents to expand its cocoa processing plant in Ondo State.
“IFC will also help strengthen the company’s ongoing sustainability and traceability programme and advise Johnvents on enhancing efficient digitisation and sourcing of its current processing capacity of cocoa-based products, including butter, cake, and powder for chocolates, confectionaries, and health products.
“This support will help strengthen our operations and energise our commitment to sustainability, traceability, and inclusive growth.