Minister promises cocoa development with funds from African Bank

 

The Minister, Federal Ministry of Agriculture and Food Security ( FMAFS) Sen. Abubakar Kyari has promised to harness funds opportunity from the African Development Bank ( AfDB) to develop cocoa value chains, just as the ministry is set to support the European Union preparedness assessment check in the country.

Agric Minister, Kyari recently disclosed this saying the ministry would galvanize the increased productivity of cocoa through fund support from AfDB with commercial sensitization by NCMC.

Kyari pointed out that the value of cocoa beans has significantly increased from N1.8 million per ton in early this year to N11.2, adding that cocoa exports accounts for N1.24 trillion in agricultural export in 2023 and 5.6 of non oil exports.

Inline with the Minister's position, the ministry's cocoa desk official, a Deputy Director, Mr. Ajayi Olutobaba highlighted the plan to increase cocoa production from 280,000 tons to 714,000 by 2032 saying both women and the youths would be beneficiaries in terms of employment and foreign earnings.

Olutobaba said that FG would re-validate the Cocoa Committee to boost the sector's value chains saying the Agric Minister is bent in achieving it.

The committee members include Engr A.G. Abubakar as Chairman, Dr. Patrick Adebola as secretary, and others such as Mr. Olutobaba Ajayi, Mr. Ibrahim Mohammed, and Mrs. Hajara Usman.