Lagos, FAO target N240bn yearly from coconut | Dailytrust

Lagos, FAO target N240bn yearly from coconut

Food and Agriculture Organisation

The Food and Agriculture Organization (FAO) has partnered with the Lagos State Government to have 10 million coconut trees by 2024 and earn N240 billion from coconut.

The state commissioner for agriculture, Ms Abisola Olusanya, said the 10m productive coconut trees will provide over 80 husked nuts per tree and over 800m husked nuts annually. At an average of N100 per nut with the economic value of over N76bn yearly, she said that would triple to N240bn worth of transaction volume with value added annually.

These figures can only be achieved if the right technical and financial support are provided, she noted.

“The collaboration will help us as a State to ensure economic development in terms of revenue generation, improved standard of living, development of the local economy through employment and wealth creation opportunities, as well as the overall environmental contribution especially in mitigating the impacts of climate change and global warming,” Olusanya said.