Federal Government To Increase Cocoa Production To 500mt By 2015

Agriculture in Nigeria is a major branch of the economy in Nigeria, providing employment for 70% of the population. The country’s agricultural products fall into two main groups: food crops produced for home consumption and exports. The sector is being transformed by commercialization at different levels, the small, medium and large-scale enterprise. Nigeria is the world’s fourth-largest cocoa producer. Before the advent of oil, cocoa was one of the major export produce and means of foreign exchange in the country. Nigeria’s cocoa trees produce an average 450 kilograms (992 pounds) a hectare (2.47 acres), according to research from the International Institute of Tropical Agriculture. Newer varieties can produce up to 2,000 kilograms a hectare. The Federal Government has announced plans to increase the production of cocoa to about 500 metric tons by 2015 through its growth enhancement support scheme for the agricultural sector. This scheme is expected to create 390,000 jobs in the cocoa sector and an accelerated rural transformation through the provision of basic facilities in cocoa-growing communities. The plans to almost double production in four years will be achieved by providing farmers with access to new seeds, fertilizers ,finance and other agrochemicals, extensions services won’t be left out as it’s a proper medium of information dissemination from research houses to farmers and vice versa. The Federal Government’s Cocoa Transformation Agenda is targeting to achieve an aggressive and rapid expansion of cocoa acreage to at least 1million hectares in the next four years and the establishment of a Cocoa Marketing and Trade Corporation (CMCT). Federal Government plans to establish the Cocoa Marketing and Trade Development Corporation, specifically to harness opportunities in cocoa production in the country. It also hopes to increase local processing, value addition and local consumption of cocoa products, as well as the establishment of a Cocoa Investment Fund to drive greater investment in all aspects of the cocoa value chain.