Nigeria to compete in global Cocoa production

Nigeria aims to double its market share

Nigeria to compete in global Cocoa production-Agriculture Minister
By Halima Umar Saleh

The Nigerian government says it is committed to transforming Cocoa production in the country and become a leading cocoa exporter of the product in the world.

Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, made this known during a meeting with major stakeholders in the cocoa production and the banking sector.

He used the occasion to give details of the Federal Government’s Cocoa Transformation Agenda, under President Goodluck Jonathan’s National Transformation Agenda.

Aggressive & articulate partnerships

The Minister enumerated some of the key targets of the country’s Cocoa Transformation Agenda to include, a rapid doubling or tripling of current production, from 250,000 Metric Tonnes within the next three years, to one million metric tonnes in the next five years, in order to increase Nigeria ’s market share in the global market.

"Aggressive and articulate public-private partnerships with greater roles for the private sector is at the crux of the Cocoa Transformation Agenda, to enable Nigeria compete globally in Cocoa production and to restore Nigeria's past glory as a leading exporter of cocoa." Dr. Adesina explained.

The Minister said: "The second target is the generation of employment through the creation of at least 365,000 jobs and an accelerated rural transformation through the provision of basic facilities in cocoa growing communities."

Cocoa transformation-a reality

The Federal Government’s Cocoa Transformation Agenda is targeting to achieve an aggressive and rapid expansion of cocoa acreage to at least 1million hectares in the next four years and the establishment of a Cocoa Marketing and Trade Corporation (CMCT).

It also hopes to increase local processing, value addition and local consumption of cocoa products, as well as the establishment of a Cocoa Investment Fund to drive greater investment in all aspects of the cocoa value chain.

A strategic plan is already in place on how banks and financial institutions can provide support to the role players in the cocoa sector to drive an accelerated revolution within the framework of the transformation agenda.

In addition, strategies are being mapped out to ensure appropriate pricing of cocoa products with a view to getting good returns on investments for Cocoa farmers and entrepreneurs in Nigeria .

The meeting was attended by key role players including farmers, technical personnel, processors, exporters, development partners, trade investors and banks.

Hajia Sani/Ugo