FUNAAB Launches Major Cocoa Planting Project to Boost Revenue
On July 24, 2024, FUNAAB began planting 3,000 cocoa seedlings at the University’s Arboretum to boost its Internally Generated Revenue (IGR). The project, inspired by the Founding Fathers' earlier efforts with cashews and teak, is part of FUNAAB’s strategy for long-term financial sustainability.
Chris Oyeoku Okafor 
In a strategic move to enhance its Internally Generated Revenue (IGR), the Federal University of Agriculture, Abeokuta (FUNAAB) has launched a significant cocoa planting project. This initiative, inspired by the University's Founding Fathers who previously planted cashews and teak for teaching, research, and revenue generation, involves planting 3,000 cocoa seedlings.
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On July 24, 2024, during an inspection of the planting site, Vice-Chancellor Prof. Babatunde Kehinde emphasized the importance of such a project for a leading agricultural university. He noted that the cocoa plantation, located at the University’s Arboretum near the Ceremonial Gate and spanning a 7-hectare area, represents a crucial step towards long-term financial sustainability.
Prof. Mufutau Atayese, the Technical Consultant for the project, praised the University Administration’s foresight in expanding its revenue base. He explained that the cocoa seedlings, sourced from the Cocoa Research Institute of Nigeria (CRIN), will begin flowering in two years, reach maturity in three years, and yield a substantial harvest by the second harvest year. Prof. Atayese, a former Dean of the College of Plant Science and Crop Production (COLPLANT), highlighted that this project aligns with the University Management’s commitment to diversifying income sources and ensuring long-term productivity.
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The Arboretum also features a variety of indigenous and exotic tree species, such as Teak, Araba, Treculiar Africana (Afon), Ficus Carpensis (Opoto), and Cajanus Cajan, enriching the area's biodiversity. This cocoa plantation underscores FUNAAB's dedication to leveraging its agricultural expertise for financial and environmental sustainability, reinforcing its status as a leading University of Agriculture in Africa.
Additionally, in June 2024, the University planted over 4,000 tree species, including Mahogany, Afara, and Locust Beans, as well as 2,000 Gmelina seedlings planted by students of the Forestry Department at various campus locations.
