Nigeria is the world’s largest kolanut producer accounting for about 54% of global output. There is no justification for it not being as big a money spinner as crude oil
 These days, wine distillers are increasingly using kolanuts in their red wine. We want a global monopoly of this market
 Now, the global red wine industry is worth $423bn annually. This is about half of our total oil earnings since independence in 1960
 We produce about 150,000 tonnes of kolanuts annually, which sells for $3,800 a tonne. When you bear in mind that none of this production actually takes place in commercial plantations, you can imagine the potential Nigeria is sitting on
 In Igboland, there is a saying that: “He who brings the kolanut brings life.” In pre-crude oil Igboland, kolanut production was widespread but alas, where is the industry today?
 Coca Cola derived its name from the kolanut, which it used to flavour its drinks. The soft drinks and confectionary market is an area where billions could be made if we are serious. We need to sit down with Coca Cola and enter into a deal that makes us their global partners
 Anyone who had read Chinua Achebe will know the importance of kolanuts in Igbo culture. I ask – Is there one kolanut processing plant in the southeast today? Can the five southeast governors please explain to me why there are no kolanut crushing plants in their state
 Someone should please explain to me why our tropical rain forest region that stretches from Cross River to Lagos to Taraba states is not littered with distilleries crushing kokanuts and processing it into wine as happens in say southern France and Italy
 Crude oil only generates about $50bn a year in export earnings for Nigeria. If we get our act together in the kolanut industry, we could easily generate double that figure from wine and confectionary exports. Nothing stops Nigeria from generating $100bn a year from this sector
 Italy is currently the world’s largest wine producer, followed by France, Spain, Germany, the US, Australia, China, Argentina, South Africa and Chile. With our dominance of kolanut production, that should not be the case. We need a Kolanut Industry Bill more than a Petroleum Industry Bill!