Nigeria’s cocoa market valued at $80b, says Fed Govt

By IAfrica
In Nigeria
Aug 27th, 2014
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The Federal Government said yesterday  the domestic cocoa market value currently stands at $80 billion.

It said its production would hit 800 million metric tonnes next year.

The Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina who spoke when he visited Nestle Nigeria’s factory at Agbara Industrial Estate, Ogun State, said the focus of the government was on ensuring food security.

In a statement by the Ministry’s Director of Information and Protocol, Tony Ohaeri, Adesina said the government would partner with the company and others to produce high energy foods.

The government, he said, was focusing on private sector led agriculture to ensure food security.

Adesina said the ministry was working on bio-fortification of special cassava variety that has Vitamin A, adding that the government was also committed to producing nutritious food for its citizens.

He disclosed that one million metric tonnes of sorghum would be produced annually

The minister urged cocoa farmers not to only export the produce but to also think of processing it so as to add value.

Adesina said the value chains were designed to address the challenges in agriculture with a view to making the sector a “money spinner” in Nigeria.

The minister urged the company to patronise Nigerian farmers with a view to creating markets for their produce.

In his remarks, the Managing Director and Chief Executive Officer of Nestle Nigeria, Mr. Dharnesh Gordhon, stressed the need for government and the private sector to work collaboratively.

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