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President Buhari seeks immediate end to poor production of cocoa in Nigeria
Dwindling revenue from oil is making the government to rethink its economic plan.
Cocoa was once the major export and economic driver in Nigeria. The advent of crude oil resulted in neglect of the product.
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This directive was issued by President Buhari in Abuja on Monday, August 28, 2017, at the First International Cocoa Summit.
Mr Buhari, who was represented by the Minister of Agriculture, Dr Audu Ogbe, said the current sustained decline in cocoa production is no longer acceptable.
“It is unfortunate that the sector has suffered neglect as a result of over reliance on crude oil. This has also unfortunately led to declining in the country’s annual production from 420,000 metric tonnes in the 60s to 192,000 metric tonnes in 2015."
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"A situation that is no more acceptable to the government,” Buhari said.
Before the discovery and massive earnings from crude oil, Nigeria is one of the largest net exporters of cocoa in the world.
Major monuments in the western region of the country were built with the export earnings from cocoa between 1950 and 1966.
At present, countries like Ghana and Cote d'Ivoire have toppled Nigeria as leading cocoa producers in the world. Nigeria is also 7th largest producers in the world, a situation the government is worried about.
In the same vein, the government also noted that it will be implementing the Nigerian Industrial Revolution Plan (NIRP) of the previous administration. This is to kick-start industrialization in the country.
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“Our Industrialisation ambition is hinged on the Nigerian Industrial Revolution Plan (NIRP) launched by the previous government of President Good luck Jonathan in 2014.”
“It is now time to move that comprehensive document from the Economic Recovery and Growth Plan (ERGP) in view of current realities.”
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