Ikom Cocoa Factory could generate up to $600m yearly, while Akwa Ibom strengthens partnerships to become a top tourism destination

Nigeria’s economic potential continues to shine through its rich agricultural resources and growing tourism sector.

The Ikom Cocoa Processing Factory in Cross River State has revealed its capacity to generate between $400 million and $600 million annually for the Federal Government — a move that could revolutionise the nation’s cocoa industry.

Chris Agara, Chairman of AA Universal Bean & Co Ltd, which manages the factory, disclosed this during a press briefing in Calabar.

He stressed that with the right support and a conducive business environment, the factory could quickly break even and achieve its ambitious goals.

“Our aim is to stop exporting raw cocoa beans and instead process them into value-added products like cocoa butter, cocoa liquor, cocoa powder, and possibly chocolate,” Agara stated.

This shift from raw material export to local processing aligns with Nigeria’s drive for industrialisation and economic diversification.

With the global demand for cocoa products rising, the Ikom Cocoa Factory’s potential positions it as a major player in the international market — offering job creation, increased foreign exchange earnings, and a strengthened agricultural value chain.

**Akwa Ibom Strengthens Tourism Drive**

Meanwhile, Akwa Ibom State is taking strategic steps to become a leading tourism destination in Nigeria. At a stakeholders’ meeting held at the Hotels and Tourism Board in Uyo, the Permanent Secretary of the Ministry of Culture and Tourism, Mrs Grace Akpan, called for greater collaboration to achieve a viable and sustainable tourism industry.

Akpan praised industry operators for their dedication to private sector growth and reaffirmed the ministry’s commitment to building strong partnerships for a thriving tourism sector.

“A synergy between the government and stakeholders will yield significant mutual benefits and accelerate the state’s tourism growth,” she said, urging participants to embrace teamwork and cooperation.

Akpan also emphasised the state’s mission to position Akwa Ibom as a leading tourism hub, leveraging strategic alliances to drive sustainable development and economic impact.

In response, tourism stakeholders pledged their support for the “Arise Agenda” of Governor Umo Bassey Eno, applauding the ministry’s efforts to create an enabling environment for the sector’s growth. They expressed readiness to work together as a united team to advance Akwa Ibom’s tourism ambitions.

**A Bright Future for Nigerian Economy**

The parallel growth of the Ikom Cocoa Factory and Akwa Ibom’s tourism sector highlights Nigeria’s diverse economic potential.

With strategic investment, stakeholder collaboration, and supportive policies, these sectors could significantly contribute to job creation, foreign exchange, and national development.