₦airaland Forum

Sheuns:
Cacao is a perennial crop. It can take up to 5 years to grow before producing any pods.

Our politicians lack such patience that’s why they are bent on oil. Oil extraction is daily once discovered

Oil production is also usually preceeded by well over 5-10 years of research, exploration and field developments. Our leaders are just dumb; or rather they not dumb but just thieves.

Why not tell the metric tonnes being exported previously compared to now. Just say this is a resultant effect of dollar jump.

LegendHero:
Someone was saying this on Twitter today.

Imagine governors from cocoa producing states invest massively in vast hectare of land and plant cocoa like their lives depend on it.

Nothing stop them from making $40b yearly from cocoa. They should stop being lazy and reduce their dependence on the chicken change from FAAC.

Governors are not meant to invest

Since Tinubu threatened his cabinets... Ministries, medias and other agencies they now dish out statistics without anything to reflect the reality, those people are good in dishing out statistics only ignorant ones would believe all these rubbish

saintopus:
They should also bring in the proceeds from the sale of Cocoa so we can share among the state just like Niger Delta crude oil.

You are actually not making an iota of sense here my friend. Most (if not all ) of the sales and exports are made by hardworking private individuals (farmers) unlike oil exploration (which is very expensive and can’t be handled by individuals) that fully funded by the government. These farmers can only be taxed. It’s like saying that all the traders and petty traders in Onitsha or the cow rearers up North should submit their proceeds to be shared among the States just like Niger Delta crude oil since you were the one that set up the businesses for them and financed them

Devalued naira
Inflation factor
It may even be less in value on the global market than what was exported before (2 years ago)
Let’s get to work, dump the propaganda machine

saintopus:
They should also bring in the proceeds from the sale of Cocoa so we can share among the state just like Niger Delta crude oil.

why not? One for all, all for one. But.....🤔

We better key in into the numerous opportunities

LegendHero:
Someone was saying this on Twitter today.

Imagine governors from cocoa producing states invest massively in vast hectare of land and plant cocoa like their lives depend on it.

Nothing stop them from making $40b yearly from cocoa. They should stop being lazy and reduce their dependence on the chicken change from FAAC.

Access to free money and mental laziness is the root cause of their lackadaisical attitude towards agriculture.

If they implement your suggestions, 10 years from now, they will experience trade surplus.

As long as people eat chocolate and cocoa products, demand for cocoa will never DIE!

We should start thinking of how to process this Cocoa into chocolate for local consumption and export. We cannot develop by being a raw materials producer without adding value to anything then import the finished product .
We are just too slow to think ahead in Africa.

Sheuns:
Cacao is a perennial crop. It can take up to 5 years to grow before producing any pods.

Our politicians lack such patience that’s why they are bent on oil. Oil extraction is daily once discovered

Agriculture is life from time immemorial

Oil was just discovered in the 20th century.

Now, most countries are shifting form oil to renewable energy sources but is any shifting from agriculture? Certainly not!

Fast means of getting money will last.
But gradual means will last for generations.

For example, imagine a man who planted cocoa in his large farm in the 70s, 80s or early 90s. When he dies, he has transferred wealth to his children and grandchildren and generations.

This is how wealth is built.

We need to start thinking Long term and not immediate or short term.

Not just cocoa, all cash crops.

ferhyntorlah:
Agriculture is life from time immemorial

Oil was just discovered in the 20th century.

Now, most countries are shifting form oil to renewable energy sources but is any shifting from agriculture? Certainly not!

Fast means of getting money will last.
But gradual means will last for generations.

For example, imagine a man who planted cocoa in his large farm in the 70s, 80s or early 90s. When he dies, he has transferred wealth to his children and grandchildren and generations.

This is how wealth is built.

We need to start thinking Long term and not immediate or short term.

Not just cocoa, all cash crops.

Wealth not sustained can be ended in two generations. Many successful cocoa farmers in the past that have children not enjoying from it now.

Cash crops were abandoned by our politicians for faster oil money.

obailala:
Was wondering why no one else was mentioning this earlier in the thread. The report didnt mention there was an increase in output... The 300% is just a facade that's purely driven by the devaluation of the Naira.

In 2023, $1 was N400 but now it's N1700. So by default if I export a tonne of cocoa every year, the Naira devaluation automatically means I earn 400% more in Naira; and we all know the inflation already swallows this extra income.

Voodoo economics!

yinkeys:
Devalued naira
Inflation factor
It may even be less in value on the global market than what was exported before (2 years ago)
Let’s get to work, dump the propaganda machine

Freethinker87:
They’re now feeding Nigerians fabricated statistics, and many are swallowing them without question. Notice how crafty they are, they conveniently skipped mentioning the tonnage of cocoa Nigeria exported in 2024 but highlighted the price instead.

Why not disclose the tonnage so we can measure the actual increase in output, rather than highlighting the increase in Naira price caused by the devaluation of the Naira? Naira was N570 in 2023, but now it’s N1750.

Incase you’re in doubt, Nigeria earned ~$670M in 2023, at the current exchange rate that amount would be over N1.17T but they want Nigerians to celebrate N664B which indicates a decline in output and revenue in 2024.

Then according to the post, Nigeria made $368,000,000 in 2024 which is significantly less than 2023's $670,000,000..

T:inub:u has killed the economy by devaluing the naira.

Sheuns:
Wealth not sustained can be ended in two generations. Many successful cocoa farmers in the past that have children not enjoying from it now.

Cash crops were abandoned by our politicians for faster oil money.

Politicians = public sector

Cocoa farmers = private sector

Unless the farmers children do not maintain the farms then the children are at worst dollar millionaires..

Slowly but steadily some regions in Nigeria are quietly finding their direction, I like that. Its not about bitterness and noise making.

Sheuns:
Wealth not sustained can be ended in two generations. Many successful cocoa farmers in the past that have children not enjoying from it now.

Cash crops were abandoned by our politicians for faster oil money.

You are right.

That's why parents need to teach their children about money management right from childhood.

BigDawsNet:
Is the tonne measured by one bag? Like 70kg?

nope

The jump is not as a result of growth in the sector but currency devaluation. Interesting how the writer quoted its current value in USD but did not mention the previous value in USD, neither did he mention quantities produced in the two referenced years.

Same way customs will come and be celebrating surpassing revenue target.

Topman7:
https://www.businessamlive.com/nigerias-6bn-cocoa-potential-drives-demand-for-serious-productivity-investments/

What i that in dollars?

Excellent.
Young people from the SW should stop trooping to Lagos and instead focus on Farming/Processing. Awolowo built the SW from the proceeds of Cocoa (Cocoa House was the highest building in African when it' was built) By the time processing is added, the SW can do very well just from Cocoa.

Tifnubu seem to be exporting all these tons of cocoa through his backyard. Because no one seem to witness these gigantic exports as gigantic as they are.

There is need for Cocoa processing industries in Nigeria.

haybhi1:
I think this is goodnews for Nigeria. SW particularly. I'm just sad the SW is doing all these things and getting about nothing in return. We put on the table a lot more than we get. Being nice won't take us anywhere.

Cocoa doesnt only grow in SW cocoa can grow in other states we have growers in taraba a north central state by God willing that is my retirement plan.
With just 10htrs of cocoa plantation with value addition,i can say i own a goldmine.

Zooposki:
The heavy tariffs will be paid by their citizens so who cares. Get more value for your resources.

There citizens will prefer to buy cheaper home made cocoa products without tariff unless you can over hype your own exported products to be the best how possible

billyG:
There citizens will prefer to buy cheaper home made cocoa products without tariff unless you can over hype your own exported products to be the best how possible

Cheaper home made cocoa products? Where do they want to get the raw materials from? Same companies that depend on Ivory Coast and Ghana for their raw cocoa. Ghana and Ivory Coast are saying no to that particular exploitation. Please go read up on it.

BigDawsNet:
Is the tonne measured by one bag? Like 70kg?

A bag is 64kg

LegendHero:
Someone was saying this on Twitter today.

Imagine governors from cocoa producing states invest massively in vast hectare of land and plant cocoa like their lives depend on it.

Nothing stop them from making $40b yearly from cocoa. They should stop being lazy and reduce their dependence on the chicken change from FAAC.

Truly, our lives depend on it. What are we doing with our lives when projects that can fetch majority of the populace are not taken serious? The time is now or never.

Zooposki:
Cheaper home made cocoa products? Where do they want to get the raw materials from? Same companies that depend on Ivory Coast and Ghana for their raw cocoa. Ghana and Ivory Coast are saying no to that particular exploitation. Please go read up on it.

Forget ivory coast n ghana saying no to exploitation,d west has d knife & d yam,they are d biggest buyers with hard currencies,if they refuse to buy cocoa farms will grow bushes,be abandoned.do african know what is chocolate?Can they make chocolates like those western countries....talk is cheap.

Export jumped or price jumped?

billyG:
Forget ivory coast n ghana saying no to exploitation,d west has d knife & d yam,they are d biggest buyers with hard currencies,if they refuse to buy cocoa farms will grow bushes,be abandoned.do african know what is chocolate?Can they make chocolates like those western countries....talk is cheap.

No, they don’t have the knife and yam. Just like how Russia took away their gas. Ghana has started producing cocoa drinks and chocolate and they are delicious from what I have heard. Western consumers are buying them.

these people and their deception

patrickmuf:
Cocoa is making men millionaires in Ikom, Etung, Boki, Akamkpa and other LGAs in Cross River State. Cocoa is not a SW thing, travel and see...

Naso life be bros
We for Ikom sef believe sa na only we get Cocoa for Nigeria, we Etung and Boki 🤣
Well all those cocoa in the SW are mostly cocoa from our end....
SW cocoa no do again sef