Nigeria Targets Harvest of 500,000mt. of Cocoa 2025
The Federal Government on Tuesday said it would boost its cocoa production to 500,000 metric tonnes by 2025 from the 340,000 recorded in 2022.
Permanent Secretary, Federal Ministry of Industry, Trade, and Investments, Ambassador Nura Rimi, stated this at the Pre-National Trade Dialogue Series meeting in Abuja.
The News Agency of Nigeria reports that the theme of the programme is “The State of Nigeria’s Global Trade Ecosystem: Bridging the Gaps for a Renewed Programme.”
The permanent secretary was represented by the Ministry’s Director of Commodities and Export, Mr Kaura Irmiya.
Rimi, while highlighting the importance of cocoa in the nation’s economic development, said that Nigeria was the world’s sixth-largest cocoa producer.
According to him, strategic partnerships with international organisations such as the International Cocoa Organisation (ICCO) and the African Cocoa Fund, among others, have been pivotal in this progress.
Rimi also revealed that Nigeria’s investment landscape has improved significantly, attracting over 2 billion dollars in Foreign Direct Investment (FDI) in 2023.
Rimi said some of the challenges, such as infrastructure deficits, regulatory bottlenecks, and corruption needed to be addressed to fully realise the potential of Nigeria’s investment and collaboration partnerships.
Also speaking, the Director-General of the Nigerian Office for Trade Negotiations, Amb. Fred Agah said that the government had a major role to play in boosting trade.
Agah advised the government to create policies to mitigate risks encountered by private sectors and ensure the ease of doing business.
He al.so called for stakeholder collaboration, saying that one player alone could not achieve the set goal.
NAN reports that government officials, stakeholders, and investors in the sector attended the event.