Cocoa association reiterates commitment to 10-year industry agenda
• To create 550,000 jobs
• To increase revenue by N4.353 trillion
• To increase output from 230,000 to 714,000mt
The Cocoa Association of Nigeria (CAN) has again reiterated its 10-year agenda for the cocoa industry along the value chains.
The agenda includes institutionalisation of cocoa economy finance products and services; maintaining formidable farmer associations; mushrooming of cocoa-preneurs; promotion of strong domestic consumption; and enhancing the clearing house mechanism alongside the tenets of the Global cocoa agenda.
Mr Sayina Riman, National President of the association and Vice-President of the World Cocoa Producers’ Organisation harped on the agenda in a statement he made available to The Guardian concerning one of the foremost cash crops in the country.
The association said part of the agenda is to create a minimum of 550,000 additional jobs across the value chains between 2018 and 2028.
“Total output of cocoa over the 10-year period is estimated at 5,391,875 metric tonnes, valued at N4.108 trillion at a price of N720,000 per tonne.
Through this intervention, which expands the product mix from just beans export alone, the aggregate revenue over the 10-year period is projected at N8.458 trillion, evidencing a revenue margin boost of N4.353trillion,” Riman claimed.
He said the national output of cocoa would increase from 230,000 to 714,000 tonnes. This, he added, would be accomplished by increasing planted land area from the current 657,143 to 905,000 hectares.
The yield of cocoa beans per hectare would increase from 350kgs to 789kgs, while the average cocoa farmer who has about 2.5 hectares, normally produces 875kgs and earns a gross revenue of N525,000 would now produce 1625kgs and earn a more reasonable gross revenue of N975,000.
The association disclosed that the interventions would be directed at providing support to cocoa farmers who want to establish new plantations or introduce complementary enterprises into his farm business for income generation opportunities. Such complementary enterprises include livestock husbandry, fish farming, bee keeping and poultry production.
The total budget for implementing the planned interventions for the period 2018 to 2028, the association said, is estimated at N303 billion, with a revenue of N8.458 trillion.
Due to the agribusiness nature of the plan, data collection and management are very critical elements. This is expected to not only to enhance quality assurance mechanisms, certification protocols and traceability, but also to radically improve the quality of Nigerian origin beans, Riman said.