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Farmers ask Tinubu to set up Cocoa Board to boost trade

By Ologeh Joseph Chibu

President Bola Ahmed Tinubu has been asked to set up Cocoa Board to revive the ebbing image of Cocoa production.

Nigeria was a leading cocoa producer in the early period up to the 1980s when a combination of poor leadership, lack of foresight and neglect in preference for oil boom literarily killed the industry.

Ivory Coast is now the largest world producer of Cocoa.

President Tinubu already created the Liverstock Ministry to boost the economy especially the beef industry.

The main cocoa producers were the South West States and the Mid-West and the old Cross Rivers

The Roundtable Initiative (CORI), a group dedicated to advancing the welfare of cocoa farmers issued a formal to President Tinubu at the weekend.

The group wants the reinstatement of the Cocoa Board to help propel the nation’s cocoa sector.

The Western Region under Chief Obafemi Awolowo propelled the region into global fame with funds sourced from cocoa and coffee.

In an open letter made available to Irohinoodua, CORI called for government intervention, including the provision of subsidized cocoa and coffee agricultural inputs, to boost cocoa productivity and increase revenue for both farmers and the government.

CORI highlighted cocoa’s importance in Nigeria’s economy.

The group wrote “Mr. President, it is interesting to note that the performance of the cocoa sector in the last one year in the generation of FX and top earnings in the non-crude oil sector cannot be taken for granted,” the letter stated.

Nigeria’s cocoa exports surged 304% in the first quarter of 2024, largely due to increasing demand and a weakened naira.

Cocoa accounted for 42.4% of Nigeria’s agricultural exports in Q1, reaching N438.7 billion, a considerable increase from N108.6 billion in the same period in 2023. Prices have remained robust, with cocoa valued at over N10 million per metric tonne over the past year.

The Director General of CORI Adeola Adegoke and National President of the Cocoa Farmers Association of Nigeria (CFAN), signed the letter.

Adegoke mentioned the National Cocoa Management Committee (NCMC) established in August 2022 by the previous administration but not much was achieved.

The NCMC is said to face funding shortfalls and lacks coupled with the lack of a formal legal frameworkm

CORI emphasized the urgency of aligning the cocoa industry with European Union (EU) sustainability requirements.

Next month of December, the EU will implement tough regulation on imported cocoa.

CORI asked the Federal Government to speed up the process for the Board to meet global expectations.

“This EU policy might affect Nigeria cocoa sector if proper regulation, funding and legal framework to support NCMC and NTF operations to combat the industry challenges are not put in place,” Adegoke said.

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