Daily Trust - the online edition

Nigeria generated $300 million (about N45billion) from cocoa export in 2007, Minister of State for Agriculture and Water Resources Ademola Seriki has revealed.

He said that cocoa is considered to be the highest foreign exchange earner in the non-oil sector of the Nigerian economy.

In a document made available to Daily Trust by the Minister’s Press Secretary James A. Odaudu on the fourth National Cocoa day held recently in Akure with the theme: ‘Cocoa for wealth and health,’ the Minister said the cash crop is an agricultural commodity of importance to our economy and contributes substantially to our Gross Domestic Product.

He said, "The commodity generates about US$300 million from the export of its beans, cake and butter last year. Cocoa production is a source of livelihood to thousands of farming households in the Country."

He said the promotion of Cocoa constitutes a major thrust of the present administration’s programme as it is a veritable source of wealth creation.

The Minister explained that the commodity has helped in ameliorating unemployment and poverty in the country as over one million household derive their income from it as farmers, licenses buying agents, processors and exporters.

He called for a Public Private Partnership in agricultural sector in order to achieve sustainable development and to drive other components.

He said, "This will increase productivity, efficiency and quality in our cocoa bean production, resulting in higher incomes for our farmers."

The minister explained that for the first time in history, government is prepared to invest close to a trillion Naira in the sector, adding that the sector will achieve unprecedented growth and development in the next four years.

He said, "I enjoin all farmers to join farmers’ cooperatives and groups in order to be part of this new drive. The private sector stakeholders in the National Cocoa Development Committee will galvanize their members and ensure that Cocoa maintains its pride of place in the agric sector."