• Latest
  • Trending
FG Unveils Strategy to Surpass Leading Cocoa-Producing Nations

FG Unveils Strategy to Surpass Leading Cocoa-Producing Nations

May 29, 2025
Ohanaeze Ndigbo Elects New President in C’River

Ohanaeze Ndigbo Elects New President in C’River

June 22, 2025
C)River Governor Seeks ICAN’s Partnership in Enhancing Financial Accountability

C)River Governor Seeks ICAN’s Partnership in Enhancing Financial Accountability

June 22, 2025
Tech Group to Empower Over 1,000 Niger Delta Youths with Digital Skills to Curb Cybercrime

Tech Group to Empower Over 1,000 Niger Delta Youths with Digital Skills to Curb Cybercrime

June 22, 2025
Otu reappoints Nsa Gill, names Linus Obogo Chief Press Secretary

Otu reappoints Nsa Gill, names Linus Obogo Chief Press Secretary

June 18, 2025
Christians, non-christians urge to operate under one flock

Christians, non-christians urge to operate under one flock

June 18, 2025
Ironbar: When munificence is not a strategy

Ironbar: When munificence is not a strategy

June 17, 2025
Cross River, NDDC clash over commissioning of road project

Cross River, NDDC clash over commissioning of road project

June 14, 2025
Cross River Strikes Landmark Deal with Wilmar to Revive Moribund Plantation Assets

Cross River Strikes Landmark Deal with Wilmar to Revive Moribund Plantation Assets

June 14, 2025
NDDC Commissions Cross River office after 25 years, flagsoff road projects

NDDC Commissions Cross River office after 25 years, flagsoff road projects

June 13, 2025
Senator Jarigbe Agom Named 2025 Hero of Democracy by Cross River News Outlet

Senator Jarigbe Agom Named 2025 Hero of Democracy by Cross River News Outlet

June 13, 2025
C’River Entrepreneurship Varsity Matriculates 4,000, Vows to Produce Globally Competitive Innovators

C’River Entrepreneurship Varsity Matriculates 4,000, Vows to Produce Globally Competitive Innovators

June 13, 2025
Beyond the altar: A priest’s journey into the heart of humanity

Beyond the altar: A priest’s journey into the heart of humanity

June 13, 2025
PrimetimeNews
Monday, June 23, 2025
Subscription
Advertise
  • Politics
  • Lifestyle
  • Business
  • Governance
  • Humanity
  • Community report
  • Pastoral
  • Education
  • Environment
No Result
View All Result
PrimetimeNews
No Result
View All Result

FG Unveils Strategy to Surpass Leading Cocoa-Producing Nations

by Prime Time
May 29, 2025
in Agriculture
0

By Asuquo Cletus

The Federal Government has outlined its strategic plan to boost cocoa production in Nigeria, with the ultimate goal of surpassing leading cocoa-producing nations.

YOU MAY ALSO LIKE

Cocoa farmer Liku (Mac Prince) denies using military personnel in Abonita Estate land dispute.

IFAD Country Director Applauds Cross River’s Agricultural Transformation, Commissions Community Market in Akpabuyo

The plan focuses on promoting local processing, providing support to cocoa farmers, and investing in research and development to enhance productivity and global competitiveness.

Speaking during a visit to the AA Universal Bean and Co. Ltd cocoa factory in Ikom, Cross River State, the Minister of State for Industry, Senator John Owan Enoh, underscored the need for Nigeria to transition from being a mere exporter of raw materials to a nation that adds value to its natural resources through industrial processing. The visit was led by the company’s Managing Director, Ilan Lugassy, and its Chairman, Chris A. Agara.

Senator Enoh stated that the visit was part of his broader efforts to drive industrial development in Cross River State and encourage private sector participation in the cocoa industry. He revealed that he had approved over 100 Import Duty Exemption Certificates (IDECs) to facilitate the operations of cocoa processing factories. He further assured that the Federal Government would continue to support the facility, as its operations would stimulate economic growth and create employment opportunities for the people of the state.

“I had never visited here before, but I now see that this facility is a key hub for cocoa processing,” Senator Enoh remarked.

“After serving as Minister of Sports Development, Mr. President appointed me as Minister of State for Industry. Now, issues concerning the cocoa industry, manufacturing, and industrial processes have become central to my mandate.

“My responsibility is to champion industrialisation and the processing of raw materials into finished goods. I come from a local government where all four cocoa estates established by the former Eastern Regional Government are located.

“Since assuming office, I have signed hundreds of approvals for IDECs, enabling companies like yours to import machinery critical to their operations.

“I want to assure you that Cross River State will become the epicentre of cocoa distribution in the coming years.

“For too long, the issue of the cocoa industry in my local government has been heavily politicised. This facility represents the first genuine attempt to move beyond rhetoric and develop a viable cocoa processing industry.

“I am proud to have witnessed this historic milestone, and we will continue to collaborate with both the public and private sectors to advance industrial growth,” the minister declared.

Senator Enoh also emphasised that the visit aimed to create an enabling environment for foreign direct investment and strengthen public-private partnerships. Additionally, he reiterated the government’s commitment to ensuring that cocoa processing in Nigeria meets international standards, thereby boosting the sector’s global competitiveness.

In his remarks, the Chairman of AA Universal Bean and Co. Ltd, Chris Agara, expressed gratitude for the minister’s visit and pledged the company’s commitment to the economic development of Cross River State.

“I am delighted and deeply appreciative of the Honourable Minister’s visit. Today is highly significant and encouraging for us, particularly given the short notice.

“We are determined to build on this visit to achieve greater economic benefits for Cross River and Nigeria. I assure you that if you return in 24 months, our second processing line will be fully operational. We have made substantial progress in sourcing materials, conducting studies, and planning the necessary infrastructure.

“At the moment, cocoa farming and harvesting activities are at a low ebb, which is why operations here appear less intense. However, when the peak cocoa season returns, you will witness a significant increase in activity.

“Our core focus is on exporting processed cocoa rather than raw cocoa beans. The price of cocoa beans is subject to international fluctuations, as global buyers dictate market prices. It is unrealistic to assume that the current pricing trends will be sustainable in the long term.

“International traders can manipulate market conditions to lower the price of cocoa beans. However, the value of processed cocoa products—such as cocoa butter, cocoa liquor, and cocoa powder—remains stable regardless of fluctuations in raw cocoa prices.

“This is the competitive advantage we intend to leverage. Our goal is to ensure that our cocoa is fully processed before export, aligning with global best practices in value addition,” Agara stated.

ShareTweetPin

Search

No Result
View All Result

Search

No Result
View All Result

Categories

  • Achievements (9)
  • Agriculture (22)
  • Bereavement (63)
  • Breaking News (17)
  • Business (7)
  • Capacity Building (5)
  • Community report (19)
  • Crime (7)
  • Development (9)
  • Disclaimer (6)
  • Economy (10)
  • Education (23)
  • Entertainment (5)
  • Environment (11)
  • Exclusive (2)
  • Features (1)
  • Governance (78)
  • Government (7)
  • Health (16)
  • Human Capacity Development (11)
  • Human rights (14)
  • Humanity (25)
  • Jurisprudence (6)
  • Leadership (6)
  • Lifestyle (23)
  • National Assembly (1)
  • Opinion (3)
  • Pastoral (27)
  • Politics (61)
  • Property (1)
  • Public Safety (10)
  • Public Trust (10)
  • Security (24)
  • Service (5)
  • Special report (6)
  • Sport (13)
  • Sports (5)
  • Tourism (5)
  • Uncategorized (16)

Recent News

  • Ohanaeze Ndigbo Elects New President in C’River
  • C)River Governor Seeks ICAN’s Partnership in Enhancing Financial Accountability
  • Tech Group to Empower Over 1,000 Niger Delta Youths with Digital Skills to Curb Cybercrime
  • About
  • advertise
  • Privacy & Policy
  • Contact Us

© 2024 Primetimenews -

No Result
View All Result
  • Politics
  • Lifestyle
  • Business
  • Governance
  • Humanity
  • Community report
  • Pastoral
  • Education
  • Environment

© 2024 Primetimenews -