Nigeria could earn $1.3 billion annually from cocoa

diamond hope

February 21, 2018 1:19 PM

Studies conducted have shown that Nigeria could stand to earn $1.3 billion annually from cocoa sales.

Studies conducted by the Nigeria Export Promotion (NEPC) in collaboration with the Applied Management Research Team 10 (AMR T10), University of California, has shown that by 2025, Nigeria can earn about $1.3billion annually as revenue from cocoa export.

The Acting Executive Director/CEO of the Council, Abdullahi Sidi-Aliyu, disclosed this during a one-day training and demonstration on processing techniques for high-quality cocoa beans in Akure, the Ondo State capital. The training was organized by Ondo State Cocoa Revolution Project.

Represented by NEPC Acting Director, Akintunde Folorunso, said the huge revenue was capable of attracting global players such as Nestle to transform the sector through forward integration into global value chains.

According to him, value chain development in the cocoa sector has great prospects in the export markets. He sought more partners and collaborators to get Nigeria to move above Cote d'Ivoire and Ghana.

The NEPC chief reassured that the Federal Government was strongly committed to the development of the non-oil export sector as the last defense of the economy.

diamond hope

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng