Nigeria generated N356.16b worth of Cocoa beans and its allied products in 2023. It also accounted for 28.72 per cent of total agricultural exports in 2023 and 5.6 per cent of non-oil exports, which makes it the highest agricultural contributor to the Gross Domestic Product .Nigeria generated N356.16b worth of Cocoa beans and its allied products in 2023. It also accounted for 28.72 per cent of total agricultural exports in 2023 and 5.
At its inaugural meeting, held in November 2022 in Abuja, the NCMC came up with draft Bill for the establishment of the National Cocoa Management Board/Commission for the management of Cocoa Value Chain in the country. Led by its Chairman, A. G. Abubakar of the Federal Ministry of Agriculture and Food Security, the body listed its challenges, to include funding of the committee activities; lack of legislative backing; meeting the EUDR target on deforestation, and lack of national traceability system in Nigeria.
The NCMC is seeking the support of the Minister to access a special fund for cocoa development from the Africa Development Bank , which Cote d’Ivoire and Ghana have accessed. While assuring that the ministry will work through the NCMC to access the development fund for the development of Cocoa sector and the implementation of the National Cocoa Plan , Kyari urged the committee members to put all hands-on deck to champion the way forward for Nigerian cocoa thereby achieving all set objectives of NCMC.Before flagging, please keep in mind that Disqus does not moderate communities.
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