Nigeria earns N122.9 billion from cocoa export - Official
Nigeria's foreign earnings from cocoa reached N122.9 billion in the first quarter of 2022, according to the Minister of Agriculture and Rural Development, Muhammad Abubakar.
Mr. Abubakar said this during the National Cocoa Festival, which was held in Akure, Ondo State, on Thursday.
He was represented by the director of the southwestern zone of the ministry, Omolara Abimbola-Oguntuyi.
The Minister noted that it had become clear that the country could not continue to rely on crude oil to develop the economy, going through the instability of oil prices in the face of the Russian-Ukrainian war.< /p>
He pointed out that cocoa production and marketing featured prominently in the recently launched National Agricultural Technology and Innovation Policy (NATIP) document.
"If there is no production, farmers will have nothing to bring to the market," he said.
"Diversification is no longer a myth but a reality. In this respect, agriculture holds the key to our collective survival as a people, both in terms of job creation, income generation, food and nutrition security than foreign exchange income.
"As you know, cocoa is Nigeria's top agricultural export. In the first quarter of 2022, N122.89 billion was earned from the export of raw cocoa beans and cocoa products (National Bureau of Statistics and Analysis).
“It is the largest source of non-oil foreign exchange for the country, while providing sources of employment for millions of Nigerians as farmers, processors, licensed buying agents, traders and exporters ".
"Cocoa also contributes around 41.6% of Nigeria's export earnings and currently Nigeria is ranked 4th in cocoa production behind Ivory Coast, Ghana and Indonesia in the world, with a production capacity of 340,163 tonnes."
READ ALSO:Meanwhile, Ondo State Governor Rotimi Akeredolu said the festival was a clear indication that all stakeholders in the sector must come together as a strong and willing force to save the fluctuating fortunes of the cocoa industry in Nigeria.
Speaking through his Senior Special Assistant on Agriculture, Governor Akin Olotu said it was also a clear call for all to unite in to bring back the lost glory in the industry.
"It is interesting to note that according to available records, Nigeria produced and exported 310,000 metric tons of cocoa in 1970/1971 but in 2020/2021, fifty years later, Nigeria was still struggling. to produce 280,000 metric tons," he said. .
“It is indeed a matter of concern. Quality-wise, we are no better. diminished in quality."
Governor Akeredolu has instructed players in the cocoa value chain in Nigeria to unite to think outside the box, work for increased financing and speak with one voice to advance cocoa production.< /p>
In his remarks, National Chairman of the Cocoa Farmers Association of Nigeria (CFAN), Adeola Adegoke, said the power of collaboration and partnership enjoyed by the industry gave birth to the festival.< /p>
"It is important to improve the livelihoods of smallholder cocoa farmers in Nigeria through finance, production, productivity, training, workshops, improved infrastructure in our cocoa communities , the protection of the planet and a sustainable ecosystem," he said.
“However, the need to create inclusion among stakeholders in the cocoa value chain and given our national interest and international demand for sustainable cocoa that takes into consideration our planet Earth and the means of livelihood of our small cocoa farmers in the cocoa industry informed our decision to collaborate and change the theme to "National Cocoa Festival" in this year 2022.
"It is about giving all players in the sector the ownership and partnership necessary to achieve our national collective goal which encompasses the entire cocoa value chain in Nigeria."
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Nigeria's foreign earnings from cocoa reached N122.9 billion in the first quarter of 2022, according to the Minister of Agriculture and Rural Development, Muhammad Abubakar.
Mr. Abubakar said this during the National Cocoa Festival, which was held in Akure, Ondo State, on Thursday.
He was represented by the director of the southwestern zone of the ministry, Omolara Abimbola-Oguntuyi.
The Minister noted that it had become clear that the country could not continue to rely on crude oil to develop the economy, going through the instability of oil prices in the face of the Russian-Ukrainian war.< /p>
He pointed out that cocoa production and marketing featured prominently in the recently launched National Agricultural Technology and Innovation Policy (NATIP) document.
"If there is no production, farmers will have nothing to bring to the market," he said.
"Diversification is no longer a myth but a reality. In this respect, agriculture holds the key to our collective survival as a people, both in terms of job creation, income generation, food and nutrition security than foreign exchange income.
"As you know, cocoa is Nigeria's top agricultural export. In the first quarter of 2022, N122.89 billion was earned from the export of raw cocoa beans and cocoa products (National Bureau of Statistics and Analysis).
“It is the largest source of non-oil foreign exchange for the country, while providing sources of employment for millions of Nigerians as farmers, processors, licensed buying agents, traders and exporters ".
"Cocoa also contributes around 41.6% of Nigeria's export earnings and currently Nigeria is ranked 4th in cocoa production behind Ivory Coast, Ghana and Indonesia in the world, with a production capacity of 340,163 tonnes."
READ ALSO:Meanwhile, Ondo State Governor Rotimi Akeredolu said the festival was a clear indication that all stakeholders in the sector must come together as a strong and willing force to save the fluctuating fortunes of the cocoa industry in Nigeria.
Speaking through his Senior Special Assistant on Agriculture, Governor Akin Olotu said it was also a clear call for all to unite in to bring back the lost glory in the industry.
"It is interesting to note that according to available records, Nigeria produced and exported 310,000 metric tons of cocoa in 1970/1971 but in 2020/2021, fifty years later, Nigeria was still struggling. to produce 280,000 metric tons," he said. .
“It is indeed a matter of concern. Quality-wise, we are no better. diminished in quality."
Governor Akeredolu has instructed players in the cocoa value chain in Nigeria to unite to think outside the box, work for increased financing and speak with one voice to advance cocoa production.< /p>
In his remarks, National Chairman of the Cocoa Farmers Association of Nigeria (CFAN), Adeola Adegoke, said the power of collaboration and partnership enjoyed by the industry gave birth to the festival.< /p>
"It is important to improve the livelihoods of smallholder cocoa farmers in Nigeria through finance, production, productivity, training, workshops, improved infrastructure in our cocoa communities , the protection of the planet and a sustainable ecosystem," he said.
“However, the need to create inclusion among stakeholders in the cocoa value chain and given our national interest and international demand for sustainable cocoa that takes into consideration our planet Earth and the means of livelihood of our small cocoa farmers in the cocoa industry informed our decision to collaborate and change the theme to "National Cocoa Festival" in this year 2022.
"It is about giving all players in the sector the ownership and partnership necessary to achieve our national collective goal which encompasses the entire cocoa value chain in Nigeria."
Support the integrity and credibility journalism of PREMIUM TIMES Good journalism costs a lot of money. Yet only good journalism can guarantee the possibility of a good society, an accountable democracy and a transparent government. For free and continued access to the best investigative journalism in the country, we ask that you consider providing modest support to this noble...What's Your Reaction?
