By: IHUOMA
To achieve sustainable growth in the Cocoa sector, the federal government and the private sector is projecting over three hundred billion U.S dollars investments into the sector for period of 10years.
The action plan which was approved by the Federal Executive Council in November last year was aimed at reposition the Cocoa sector to highly competitive, dynamic and profitable commodity.
The Minister of Trade and Investment Dr. Jumoke Oduwole who stated this during the inauguration of the Technical Implementation Committee for the 10-Year National Cocoa Plan in Abuja, explained that the plan aligned with the Renewed Hope Agenda of reducing unemployment and achieving the broader vision of a $1 trillion economy by 2030.
The Minister represented by the Permanent Secretary in the Ministry Ambassador Nura Abba Rimi observed that Nigeria which was the leading producer of Cocoa in the world in the 1970s but decried the low productivity due to the low investment in the value chain, poor infrastructure and lack of coherent policy direction, and urged the committee to ensure diligent implementation of the National Cocoa Plan.
‘’As members of the technical committee, I want you to consider yourselves fortunate to have been chosen worthy of this assignment, as such you need to justify the confidence repose on you by working as a team to realize the dream of promoting industrialization in Nigeria. Your nomination is a call to National service’’.
The Head of Commodities and Export department of the Ministry of Trade and Investment, Hajiya Hajara Usman rolled out how the ministry would achieve the over 3hundred dollars investment of the Cocoa Plan by 2032.
‘’For the 10 year national cocoa plan, it is expected that the FGN will contribute 27% the cocoa producing states 13% , the local government will produce 5%while private sector will contribute 30%, the donor sector and the global industry will produce 25%.
The Chairman, Board of Trustee Cocoa Association of Nigeria, Dr. Victor Iyama said the initiatives would boost cocoa production, improve quality, generate additional income for farmers and contribute to overall economic growth.
‘’Many people are now taken to cocoa farming and with the setting up of this committee, there will be more seriousness into driving of the production of Cocoa’’.
The Cocoa Plan was developed through inclusive process of collaboration with critical stakeholders such as the Federal Ministry of Agriculture and Food Security, Cocoa Association of Nigeria , International Cocoa Organization , Afrieximbank to cater for the interest of all the value chain actors from the farm to the downstream sector.
