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Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric - Agriculture - Nairaland

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Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by ducii: 9:50am On Oct 28, 2014
Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, said on Monday that Nigeria’s export of cocoa is estimated to generate $1.3 billion (about N202.5 billion) as revenue for the country this year.

Adesina who stated this in Abuja at the Nigerian Cocoa Summit 2014, said cocoa generated $1.2 billion in 2013 while the same commodity generated $900million in 2012.

Minister of Agriculture, Akinwumi Adesina
Minister of Agriculture, Akinwumi Adesina
He noted that the production output of cocoa has grown from 250,000 metric tonnes to 370,000 metric tonnes in the last three years of the implementation of Cocoa Value Chain.

He assured that the production of cocoa would be scaled up to 600,000 metric tonnes by 2016.

As part of new initiatives to boost the production of cocoa in the country, he said the Nigerian Cocoa Research Institute had released eight new hybrids of cocoa, adding that the Federal Government has distributed 1.4 million cocoa pods to farmers in cocoa producing states across the country.

Given the enormous potentials of cocoa sub-sector, the Minister has also proposed the setting aside of N100 billion as Cocoa Development Fund, aimed at making Nigeria a global powerhouse in cocoa production.

He explained that the Cocoa Development Fund would be raised through public-private partnership, adding that it would bring about massive turn-around of the sector.

Adesina further disclosed that Cocoa Corporation of Nigeria would soon be established to regulate the activities of the cocoa sub-sector as well as shore up global competitiveness of Nigerian cocoa.

He pointed out that currently, the activities in the cocoa sub-sector are uncoordinated as Nigerian cocoa loses value in the global market because it is not branded.

The Corporation, Adesina explained would be driven by the private sector, as the government is expected to provide enabling environment.

According to him, “The absence of marketing institutions around cocoa sector has led to uncertainties in the Nigerian cocoa market which for decades has crippled the system.

“We are going to fix this problem once and for all. To fill the institutional void that the dissolution of Cocoa Marketing Board created and to allow us to compete with our neighbouring countries, the government supported institution called: ‘Cocoa Corporation of Nigeria’ will be established.

“This Corporation will not be run by government. It is going to be private-sector driven. But it is going to be public sector- enabled”.


http://dailyindependentnig.com/2014/10/cocoa-generate-1-3b-revenue-2014/

7 Likes 1 Share

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by stalyf(m): 10:06am On Oct 28, 2014
This is a welcome development. We really need to supplement the oil revenue with the way crude oil prices have been falling.

14 Likes 1 Share

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by Prince202020(m): 10:06am On Oct 28, 2014
Great one from the best government ever in Nigeria.

11 Likes 1 Share

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by tigonana: 10:07am On Oct 28, 2014
Ati gbo!!!
Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by kenbee(m): 10:08am On Oct 28, 2014
Cocoa To Generate $1.3b As Revenue In 2014-
Minister For Agriculture «
» FG Needs $5b To Stabilise Economy – Okonjo-Iweala


If truly FG can generate $1.3b from cocoa in 2014 alone that is almost gone, how more of Palm, Casava, life stocks etc.
Then, what's the need for stabilizing our economy with $5b that our Banana plantations can take care of?

...Story 4 D gods!

5 Likes 1 Share

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by Joshuadon: 10:08am On Oct 28, 2014
good development

1 Like

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by morbid: 10:08am On Oct 28, 2014
All road now leads to cocoa farming. Heading to UI now for my Masters in cocoa farming.

11 Likes

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by Nobody: 10:08am On Oct 28, 2014
All hope is not lost on nigeria

1 Like

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by datguru: 10:09am On Oct 28, 2014
Gej till 2019. Let the fresh air continue

9 Likes

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by Nobody: 10:09am On Oct 28, 2014
The Agric Minister Is doing well in his sector ,Nice one

20 Likes 2 Shares

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by AJOT99(m): 10:09am On Oct 28, 2014
I don hear
Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by dotna(m): 10:10am On Oct 28, 2014
way to go! the burden on crude oil revenue is too much
Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by SlimSkipper(m): 10:11am On Oct 28, 2014
[size=16pt]Statement in naija always goes thus:
FEDERAL GOVT TO .....
AGRICULTURE INPUT WILL .....
POWER SUPLLY TO INCREASE TO .....
when wud we hear statement like:
FEDERAL GOVT HAS .....
agric input is...
power supply has increased to.....[/size]
angry angry
GEJ TILL NATIONAL ACCOUNT DON EMPTY

40 Likes 1 Share

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by Nobody: 10:11am On Oct 28, 2014
Na today?
Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by Acidosis(m): 10:11am On Oct 28, 2014
GEJ till una get sense!

12 Likes

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by Gorgeous58(f): 10:12am On Oct 28, 2014
Which 2014? The one that has come to a close?

1 Like

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by Dannyset(m): 10:13am On Oct 28, 2014
I pray oo. Wey oil still dey ba?
Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by Exjoker(m): 10:13am On Oct 28, 2014
Nice move FG

1 Like

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by kevinaduga(m): 10:14am On Oct 28, 2014
With the falling oil prices, agriculture is the way to go. If we can sufficiently harness our agricultural production potentials, then i'm absolutely certain that the economy will be greatly bolstered with a less volatile and more sustainable resource. Plus the fact that employment opportunities will be greatly increased, thus helping to reduce in poverty.
I just hope the government will have the will power to pursue the programs to it's logical conclusion, and not jettison it, like several other abandoned projects.

1 Like

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by AKMoney1(m): 10:14am On Oct 28, 2014
Cocoa has been generating huge revenue since Chief Obafemi Awolowo days.

6 Likes

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by Nobody: 10:15am On Oct 28, 2014
It was about time we went back to our roots, Agriculture.

2 Likes

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by Nobody: 10:15am On Oct 28, 2014
If we can continue this agricultural trend ,,I see Nigeria beating USA in world denomination
Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by MadCow1: 10:16am On Oct 28, 2014
I knew only a Yoruba Man would say this... grin



Okay.. Seriously!! If I were a Military dictator, I will drag this Yoruba man to Bar Beach, tie him to a Plank and shoot him dead.


900 Million in 2012..

1.2 Billion in 2013..

and 1.3 billion in 2014..


a miserly 400 Million Naira growth in 3 years?! angry

Facking Nonsense.. angry So 2012 - 2013 recorded 300 Million Dollar growth, 2013 - 2014 just 100 million.. Shows somebody is sleeping on the job. angry


4 Likes

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by Beetwaise(m): 10:16am On Oct 28, 2014
Good day folks, almost everyday, one minister or one government representative would say:

- agriculture is going to generate so so billion naira

- power sector to generate so so trillion naira

- coal mining to generate so so quadrillion naira ..... and the list continues

FOR GOODNESS SAKE!!! We want to see how all these cash values are re-invested for the betterment of Nigerians not a list of impressive figures.


....... I am Beetwaise...still going classic.

1 Like

Re: Cocoa To Generate $1.3b As Revenue In 2014- Nigerian Minister For Agric by QMark: 10:18am On Oct 28, 2014
Cocoa gets mentioned in the news today before crude oil. The last time that happened was 1972.

4 Likes

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