Modupe Gbadeyanka
By Modupe Gbadeyanka
President Muhammadu Buhari has promised to ensure the glory days of the cocoa industry in Nigeria were restored.
Mr Buhari made this pledge on Monday while declaring open the First International Cocoa Summit organised by the Federal Ministry of Trade and Investment in collaboration with Cocoa Association of Nigeria (CAN) held in Abuja.
The President, represented by the Minister of Agriculture and Rural Development, Mr Audu Ogbeh, said expressed regrets over the neglect of the cocoa sector over the years.
However, he promised that his administration will ensure the industry was repositioned and turned into the new oil sector.
Mr Buhari blamed the neglect on past administrations because of over reliance on crude oil.
Before crude oil was discovered in commercial quantity in Nigeria, cocoa used to be one of the main sources of foreign exchanged (forex) for Nigeria.
According to the President, annual production of cocoa in the country declined from 420,000 tonnes in the 60s to 192,000 tonnes in 2015.
During the time, Nigerian moved from being the fourth global cocoa producing nation to seventh.
But the President said efforts would be made to grow the sector. He said an enabling environment would be created for farmers, investors and others.
“Government is working hard to improve the business environment for local and foreign investors as well as encouraging the development of domestic consumption.
“The Federal Government is committed to restoring the agricultural and industrial sector to its prime position and I call on all stakeholders to key into the government policy of promotion of non-oil export as an alternative source of revenue.
“I wish to assure you that the implementation of our reforms of the Ease of Doing Business will be the backbone for the repositioning of the cocoa sub- sector in Nigeria,” Mr Buhari disclosed at the event.
