Cocoa Processing Industry: Osun Govt Issues Termination Notice To Chinese Companies

By Ismaeel Uthman

The State Government of Osun has issued termination notice to the Chinese companies managing the Cocoa Products Industry, Ede over the abandonment of the place.

OSUN DEFENDER gathered that the termination notice was issued to the two Chinese partners “Golden Monkey and Skyrun Ltd in the first week of July this year.

The Commissioner for Commerce, Industry and Cooperatives, Mr. Henry Olanipekun, confirmed the notice, saying that the Chinese investors have not responded to the termination notice given to them to unwind the partnership which had expired.

According to Olanipekun, who spoke with the medium on Tuesday, the Ministry of Justice has begun legal process to address the matter.

He explained that the state government decided to terminate the Memorandum of Understanding signed with the two Chinese partners because of the abandonment of the industry, which is a breach of agreement.

Olanipekun stated that his ministry is on investment drive for the administration of Governor Gboyega Oyetola and as such, would not watch a valuable Cocoa Products Industry in Ede to suffer abandonment.

In a bid to ensure that the huge investment is put to maximum use, Olanipekun said the government has decided to take over the industry and work with any reliable investor that is interested in partnering with the state.

Similarly, the Director-General of the Bureau of Social Services, Mr. Richard Tinubu has condemned what he described as reckless abandonment of the company, thereby making it unproductive despite its huge potentials.

Tinubu, who led a joint inspection team of the BOSS and Ministry of Commerce, Industry, Cooperatives and Empowerment to the industry recently, expressed disappointment on the abandonment of the once buoyant industry for more than two years by the Chinese investors without recourse to the MoU signed with the state government.

He said it was saddening that the industry which ought to be creating wealth and generating employment was abandoned to rot away.

The BOSS DG lamented that what the state government has lost in terms of employment of the citizenry and massive returns of revenue from the company to the government cannot be quantified.

OSUN DEFENDER has in its August 13 edition reported that the Cocoa Products Industry in Ede had been abandoned by the Chinese investors.

The Chinese investors running the company abandoned it since 2018 without informing the state government, until 2020 when a letter was sent to Governor Adegboyega Oyetola to inform him of the suspension of their operations.

Currently, the facilities at the company are being used as stores for COVID-19 relief items donated to the State Government of Osun.

The Chinese investors had abandoned it for mining activities at Itagunmodi in Atakunmose East Local Government of the state, before finally leaving the facility in January this year