Why Nigeria Cocoa Industry Will Be %100 Sustainable

NIGERIA SETS TO OVER-TAKE IVORY COAST AND GHANA ON SUSTAINABLE COCOA SUPPLY CHAIN BEFORE THE YEAR 2025 SET BY THE EU, TO BAN UNSUSTAINABLE COCOA BEANS AT THE INTERNATIONAL MARKETS, THROUGH THE COLLABORATION EFFORTS OF THE STAKEHOLDERS, US GOVERNMENT [TRACE] AND PRESIDENT BOLA AHMED TINUBU’S COCOA BOARD RESUSCITATION POLICY TO CONTROL AND DEVELOP THE COCOA SUPPLY CHAIN ALONG SUSTAINABLE PATHS. There is no ambiguity in the desirousness of Nigeria to over-take #Ivory Coast and #Ghana on sustainable #cocoa supply chain, before the coming EU ban of unsustainable cocoa beans set for the year 2025 from entering the international markets, with the #US-TRACE support of #Nigeria cocoa value chain through the Lutheran World Relief approved of $22 million five year development program that covers; traceability, #climate smart practices, inputs support to #smallholder farmers, capacity building along the value chain and #exports in collaboration with the Nigerian cocoa stakeholders. Thus, the determination of the President #Bola Ahmed Tinubu to resuscitate the #Agricultural Boards in order to revive the Agricultural sector has reinforced the determination of the cocoa stakeholders to work together to change the Nigerian cocoa narrative. The Nigeria Cocoa #Board that was established in the year 1948 was saddled with the responsibility of developing, managing and stabilizing the price of the Nigeria cocoa beans. And under her watch, the industry recorded some tremendous growth in terms of #quality, #flavor, production & productivity and the total regulation and #development of the industry in line with international standard practices. However, the #price #stabilization #policy where cocoa farmers were greatly exploited led to the abolishment of the Board in the year 1986.To us, is like throwing away the baby with the bad water considering the growth of Ghana to Nigeria today in cocoa production. The Nigeria #Government has reaffirmed her readiness to resuscitate the Nigeria Cocoa Board that was once noted for the growth of the industry and the driver of the commodity that gave the highest foreign exchange earnings to the Federal Government, especially when Nigeria was adjudged the best producer of flavor cocoa beans in #West Africa with good aroma. This policy if well implemented will bring back the lost glory of the sector, when Nigeria was regarded as the second highest producer of cocoa in the 60’s and early 70’s with about 490,000 MTS. Nigeria is presently fourth in cocoa production behind Ivory Coast, Ghana and #Indonesia with about 2.2 million MTS, 800,000 MTS and 739,483 MTS respectively, while Nigeria with 340,000 MTS and currently targeting 500,000 MTS by the year 2024. It accounts for 6.5 per cent share of global production, after Ivory Coast, Ghana and Indonesia [NEPC]. Nigeria currently realizes $700 million annually from the exports of cocoa beans and cannot afford to lose guard considering her huge investments in the cocoa industry that valued close to 500 billion naira. Cocoa #Farmers Association of Nigeria [CFAN] has collaborated with the cocoa stakeholders [#farmers, #buyers, #exporters, #input providers, #policy makers, #researchers, etc] to fashioning out modalities via Nigeria Cocoa #Summit held in Abuja in the year 2021; where discussants highlighted the issues in the industry and proffered solutions to move the industry forward. The #EU must begin to see Nigeria as a cocoa origin country taking the bull by the horn to address the challenges of cocoa #sustainability. It is interesting to note that stakeholders have taken numerous actions that are presently addressing some of the challenges militating against the sustainability of the sector like #child labor menace, #deforestation, #traceability, #application of unapproved or ban #pesticide in cocoa farms etc. One of these steps is CFAN distribution of free #GAP books to cocoa farmers across the cocoa producing states and cocoa communities in Nigeria, with the sup

Posted on: 2023-09-09

CFAN POSITION ON PRES.TINUBU\'S FOOD SECURITY PLANS

Food Sufficiency has always been the major goal of any serious government of any nation and Nigeria\'s position shouldn\'t be different. For any nation to survive, food security is the key and the major determinant of any strong economy( import and export ratio). So this must be a welcome development from President Bola Ahmed Tinubu, pursuing his food security plans through the Security Council purview (especially Agriculture& Water Resources) but must not be a mere word with all actions deployed to create food sufficiency in due time. Self-sufficiency is the key to securing any nation and Mr.President was right with the decision of the FGN in this direction. However, the present high cost of energy must have rubbed off or seriously impacted Mr. President\'s intention in this regard considering the present skyrocketing inputs price and its negative effect on the cost of cocoa or Agro production for the smallholder farmers. We do not know how Mr.President would solve this energy crisis but we know that the objective might be impacted negatively at present if urgent measures are not put in place to solve the problem and save the smallholder cocoa farmers from degenerating into more poverty beyond control thereby negatively rubbing of the gains of food security. On the issue of the Commodity Board; Mr.President has never hidden his views on the need to bring- back the Boards to support his food sufficiency strategies. It must be known that the present total deregulation of the cocoa sector after the dissolution of the commodity board in 1986 has set the industry backward without any appreciable progress in quality, production, productivity, and the fair market mechanism to support the farmers. The smallholder cocoa farmers have continued to bear the full cost of cocoa production without any appreciable support from the government at all levels unlike what was obtainable during the cocoa board era in 1986 and being done in Ghana and Ivory Coast that still retained their boards and presently with production capacity of 1million MT and 2 million MT respectively while Nigeria is presently hovering around 300,000 -350,000 MT. However, we will not support the purchasing power to be given to the board again(Apart from buyers of the last result) and play a major role in the regulation and development of the sector due to the bad experience suffered by the Nigerian farmers when they were cheated by the then board via price manipulation that led to the dissolution I.e throwing away the baby with the bad water. The present Autopilot system in the cocoa sector must be stopped to make our cocoa competitive and spur investment that has continued to elude us as a result of a free market without regulation that aided fraud, cheating, waste, low productivity & production, no plan, circumvention, poor quality, compromisation of standardization and low livelihood of the cocoa farmers.

Posted on: 2023-07-21

Adeola, Others Sworn In As New CFAN Executives.

The re-elected National President of Cocoa Farmers Association of Nigeria (CFAN), Comrade Adeola Adegoke at the celebration of 2nd Inauguration of National Working Committee of the Association, held on Thursday 6th July, 2023 At Archbishop Abiodun Adetiloye Hall, Ado-Ekiti, Ekiti State, highlighted some of the laudable achievements his leadership had achieved in the last four years that ended two days ago. He said, “Some of the achievements are: The celebration of 1st National Cocoa Farmers’ Day at Ibadan, Oyo State on the 7th October, 2019; Hosting of Cocoa Farmers’ Roundtable Conference across all Cocoa producing states centered on enlightenment, and good cocoa management practices for cocoa sustainability.” “The First CBN-ABP loan disbursement to 1,221 Cocoa farmers at the sum of Seven Hundred and Twenty Three Million (N723,000,000) Naira only across all the cocoa producing states. They are: Ondo, Ekiti, Osun, Oyo, Ogun, Cross-River, Edo, Delta, Abia and Kwara while the repayment is seriously ongoing; “Building of the National Secretariat of Cocoa Farmers’ Association of Nigeria known as CFAN HOUSE which is the first built commodity house in Nigeria; The celebration of 2nd Nigerian Cocoa Farmers’ Day at Abeokuta, Ogun State on the 28th October, 2021; “Hosting of the Nigerian Cocoa Summit and Award at Sandralia Hotel, Jabi, Abuja on the 30th November, 2021 to 1st December, 2021 in collaboration with other value chain stakeholders; Production of first and second edition of Compendium on Good Agricultural Practices (GAP) produced and distributed freely to all Cocoa Farmers across Nigeria written in English and Yoruba Languages respectively.” “The celebration of the First National Cocoa Festival at the International Event Centre, THE DOME, Akure, Ondo State on the 13th October, 2022. The investiture of Ooni of Ife as the CFAN Grand Patron; Championing the establishment of National Cocoa Management Committee (NCMC) by the immediate past Honourable Minister of Agriculture, saddled with the responsibility of the collection of $400 per ton for the smallholder cocoa farmers; “I am delighted to welcome you to the 2nd Inauguration of National Working Committee of the Cocoa Farmers’ Association of Nigeria (CFAN); an umbrella body for the smallholder cocoa farmers of Nigeria. Let me use this opportunity to appreciate our Grand Patron, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, OJAJA II, Ooni of Ife, invited royal fathers, VIP guests who all counted us worthy, more importantly, our Keynote Speaker-Mr. Franklin Amoo; Member, Advisory Council to President Joe Biden on the ease of doing business in Africa, who travelled all the way from the United States of America (USA) to honour us today. “Also, let me congratulate His Excellency, President Asiwaju Bola Ahmed Tinubu, Commander -in-Chief of the Armed Forces of Nigeria on his assumption of Office. I would like to use this auspicious occasion to appreciate the dynamic Governor of Ekiti State; His Excellency, Abiodun Abayomi Oyebanji whose passion for development of Ekiti State has been demonstrated through his numerous robust policies geared towards transforming the agarian sector in the state. I believe your Excellency passion will propel the growth and development of the Cocoa sector to an enviable height before the end of your first term in Office. “Let me also welcome the following representatives; OFI, Harvestfield, NEPC, CRIN, Government Representatives (Produce, Tree Crops & Cocoa Desk Officers), KOLETTI Cocoa, LIMAN Resources, Loom Chocolate and other value chains stakeholders. “But, I will not end this without mentioning the attendance of our National Secretary, at All Farmers Association of Nigeria (AFAN), who is ably representing the National President Dr. Farouk Rabiu Mudi, in person of Dr. Yinusa Halidu (Sar’kin Noma of Mambila Kingdom). I pray that may the good Lord gives you journey mercies back to your different destinations,” the CFAN President said.

Posted on: 2023-07-07

CFAN 2ND NATIONAL WORKING COMMITTEE

The Cocoa Farmers Association of Nigeria Inauguration Committee (CFAN) requests the presence of the populace to her 2nd National Working Committee with the theme: Renewed Hope: Rejuvenating Nigeria’s Cocoa Culture. The event is scheduled to hold at the Archbishop Abiodun Adetiloye Hall, Trade Fair Complex, Old Iyin Road, Ado-Ekiti, Ekiti State on the 6th July 2023 by 10:00 am. The Keynote speaker for the event is Mr. Franklin Amoo; a member, of the Advisory Council to President Joe Biden on the Ease of doing business in Africa. His Excellency, Abiodun Abayomi Oyebanji; the Executive Governor of Ekiti State is the Chief Host of the event. Other dignitaries expected at the event are the President of the Federal Republic of Nigeria; His Excellency Bola Ahmed Tinubu GCFR; His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi; OJAJA II, Ooni of Ife and Gen. Theophilus Yakubu Danjuma is the Chairman of the Occasion.

Posted on: 2023-06-12

CFAN TASKS TINUBU FOR THE ELEVATION OF COCOA INDUSTRY

In order to revitalize the cocoa industry and give it back its proper place in the global market, the Cocoa Farmers Association of Nigeria (CFAN) appealed to Tinubu for the elevation of the Cocoa Industry. Adeola Adegoke, the National President of CFAN, made the appeal in Akure, the capital of Ondo State, shortly after he and 11 other candidates were chosen to lead the association for an additional four years. Cocoa farmers, according to Adegoke, would have high expectations of Tinubu but would cooperate with the government to enact regulations. The CFAN President also made it clear that the organization would work to have a board established that would be in charge of purchasing cocoa as well as making sure farmers were given the tools they needed to advance the industry . He declared: \"Our goal is to raise productivity per hectare and become the world\'s top producer of cocoa. We will cooperate with Tinubu to see that the National Cocoa Management Committee established by Buhari is strengthened and given the enabling National Assembly Acts necessary to promote investment in the industry, strengthen the research system, and provide our farmers with input subsidies. When compared to cocoa, investments in rice and other commodities are not comparable. The highest foreign exchange rate in the nation is still from cocoa. Our farmers\' current income is intolerable. Our farmers are getting poorer, as we can see. We have observed that the quality once associated with the cocoa industry in Nigeria no longer exists. We lack more effective sustainable practices. In most of the states that produce cocoa, the emphasis on dedication to expanding the cocoa economy is no longer present. \"We cannot accept the current system, which is devoid of any system. There will be a social revolution to show that returning to high-quality coca production and broad-based farmer empowerment are the only ways to bring wealth to our states. Together with the incoming administration, we will cooperate.

Posted on: 2023-05-24

Cocoa Farmers Reelect Adegoke As National President.

After putting in a strong showing during his first term in office, Comrade Adeola Adegoke has been reelected as the National President of the Cocoa Farmers Association of Nigeria (CFAN). Adeola was elected without opposition by the association\'s National Delegates\' Conference, which was held at its National Secretariat in Akure. The other national officers of the association were also elected without opposition. Adeola Adegoke, the association\'s national president (from Ondo State), Olagunju Aina, its vice president (from Kwara State), Agbor Bassey, its national secretary (from Cross Rivers), Elube Ogigbo Joel, its national treasurer (from Ogun State), Oloyede Ezekiel, its financial secretary (from Kwara State), Makanjuola Akinyele, the association\'s PRO (from Ekiti State and Sarafat Olayemi (Oyo State), the organizing secretary. In addition, Auditor 2 Kazeem Tijani (Edo State), Assistant Secretary Ayeni Iyabo (Ondo State), Assistant Financial Secretary Raji Sarafa Ariyo (Oyo State), and Assistant Organising Secretary Uche Mmeregini (Abia State) were chosen, while Auditor 1 Raji Akanni (Osun State) was chosen. Comrade Adeola Adegoke, the newly elected National President of the Cocoa Farmers Association of Nigeria (CFAN), which represents over 90% of Nigeria\'s small-scale cocoa farmers and stakeholders, urged the incoming Bola Tinubu administration to give top priority to policies that would advance the sector in the nation, much like the late Sage Chief Obafemi Awolowo did in the old western region. Adegoke stated that the association would oppose any effort to completely deregulate the cocoa industry. The president of CFAN noted that the complete deregulation of the cocoa sector resulted in farmer fraud, low productivity, and the production of subpar cocoa beans. Adegoke stated that although cocoa farmers had high expectations for Tinubu\'s administration, they would cooperate with it to enact regulations. He said they would work to create a Board that wouldn\'t purchase cocoa but would make sure farmers received the support they needed and grow the cocoa industry. In his words, \"We have seen that we don\'t have better sustainable practices and we have seen that the focus of commitment to grow the cocoa economy in the most cocoa producing states is no longer there again. Many of us farmers cannot return to farming because of the government\'s nonchalant attitude toward the federal and state governments. In order to ensure that the farmers have access to the inputs they need to restore Nigeria, we will push for establishing a board that will begin developing cocoa. The goal of this association is to raise productivity over the next two to three years and become the world\'s top producer of cocoa. \"We will work with the government to make sure that the National Cocoa Management puts in place the enabling environment that will spur the regulations on the development of the cocoa economy, which will bring back more investment in the sectors.\" In Nigeria, Ondo, Cross River, Ogun, Akwa Ibom, Ekiti, Delta, Osun, and Oyo are the principal cocoa-producing states. Other states include Kwara, Nasarawa, Taraba, Zamfara, Kogi, and Benue.

Posted on: 2023-05-19

CFAN Holds 1st National Cocoa Festival

Stakeholders and Farmers from Cocoa producing States in Nigeria have converged in Akure, the Ondo State Capital for the First National Cocoa Festival organised by the Cocoa Farmers Association of Nigeria, CFAN. The festival which is carnival like was attended by the Ooni of Ife, Oba Enitan Adeyeye Ogunwusi, Governor Oluwarotimi Akeredolu, the Minister of Agriculture and Rural Development, Dr Muhammad Abubakar as well as his Industry, Trade & Investment Counterpart, Otunba Adeniyi Adebayo and representatives of key stakeholders such as the Cocoa Association of Nigeria, (CAN) and International Cocoa Organization, (ICCO). The theme of the festival which was held at the International Event Centre is; “STAKEHOLDERS’ COLLABORATION TO MAKE NIGERIA COCOA INDUSTRY SUSTAINABLE”. In an address, the National President of CFAN, Comrade Adeola Adegoke noted that the power of collaboration and partnership being enjoyed in the industry today, gave birth to the program. Adegoke said, “It is important to improve the livelihood of smallholder cocoa Farmers in Nigeria through finance, production, productivity, training, workshops, improved infrastructure in our cocoa communities, planet protection and sustainable eco system cocoa practices in partnership with the cocoa supply chain stakeholders which motivated us to gold the 1st Nigeria Cocoa Farmers Day at tbr International Conference Center, University of Ibadan, Oyo State on the 18th of October, 2019”. “However, the need to create an inclusiveness amongst the cocoa value chain stakeholders and considering our national interest and the International demand for a sustainable cocoa that takes into consideration our planet Earth and the livelihood of our smallholder cocoa farmers across the cocoa industry informed our decision to collaborate and change the theme to “National Cocoa Festival” in this year 2022. This is to give all players in the sector the ownership and partnership to achieve our national collective goal that transcends across the entire cocoa value chain in Nigeria. “Let me use this medium to inform our stakeholders, distinguished guests and great cocoa farmers that the Association will commence the process of the enumeration/bio -data collection of all the cocoa farmers in Nigeria. This task will be done in collaboration with our cocoa value chain stakeholders across the cocoa producing states and our cocoa communities traditional rules. “We believe that after the completion of the enumeration exercise, it will enable our investors, policy makers, researchers, the Academia, merchants, exporters, buyers etc, to know all the information they need about our cocoa bean, cocoa plantation environment, inputs/GAP, sizes, cocoa variety, sex, gender, labour parameter, ecosystem compliance activities in our cocoa plantations”. “The Theme of this event was deliberately chosen in order to address our peculiar challenges as a cocoa origin producer and value chain stakeholders, in the face of the emerging due diligence standard in the international markets viz-a-viz traceability issues”. Adegoke appreciated the Governor of Ondo State, Oluwarotimi Akeredolu, SAN, for his giant strides in the State. His words, “Ondo State is not just leading by accident in cocoa production and cocoa activities, but relentless efforts of our generational cocoa farmers, past administrations efforts, stakeholders’ contributions and in particular, the numerous interventions of Arakunrin Oluwarotimi Akeredolu, SAN in the areas of free seedlings provision in the last few years.”

Posted on: 2022-10-17

US Announces $22 Million Project To Improve Cocoa.

The United States Department of Agriculture’s Food for Progress programme has entered into a cooperative agreement with Lutheran World Relief to strengthen the cocoa value chain in Nigeria. The project, which is worth approximately $22 million and will be implemented over the next five years. The primary objective of the Food for Progress project is to increase cocoa productivity by leveraging climate-smart agricultural measures. In addition, the project will support improved access to inputs, technical resources, capacity, post-harvest processing, and export markets. Counsellor for Agricultural Affairs, U.S. Mission Nigeria, Gerald Smith, explained that the project will employ an approach that enables farmers to not only produce more cocoa and preserve the land’s fertility and biodiversity, but also realise an important triple bottom line of people, profit, and the planet. “Food for Progress programme is the cornerstone of United States Department of Agriculture’s Foreign Agricultural Service international capacity-building efforts with the principal objectives of improving agricultural productivity and expanding trade of agricultural products,” Smith said. Over the years, Food for Progress projects have trained farmers in animal and plant health, improved farming methods, developed road and utility systems, established producer cooperatives, provided microcredit, and developed agricultural value chains. Lutheran World Relief will carry out project activities in Abia, Cross River, Ekiti, Akwa Ibom, Ondo and Osun states – benefitting approximately 68,000 farmers. In particular, the project will target farmers in low productivity but highly promising areas, as well as farmers in high-density, high-productivity communities. The Foreign Agricultural Service is the overseas arm of the United States Department of Agriculture. It offers a variety of services to American and Nigerian agribusiness companies, and government and non-government entities involved in agricultural trade and development. Through a variety of programmes, the service helps developing countries strengthen sustainable agricultural practices by providing capacity-building opportunities. Staffed with dedicated agri-business specialists, the Foreign Agricultural Service works closely with Nigerian partners to assist Nigeria to improve agricultural productivity, food distribution, food security and trade.

Posted on: 2022-09-28

INAUGURATION OF COMMITTEE ON LID

The Federal Government Inaugurates National Cocoa Management Committee as Nigeria begins new cocoa revolution. The Federal Government on Tuesday, disclosed that cocoa farmers will benefit from Living Income Differential (LID) of $400 per tonne along with counterparts in Ghana and Cote d’Ivoire. This was made known by the Minister of Agriculture and Rural Development, Dr Mohammad Abubakar, in a keynote address during inauguration of 11-man National Cocoa Management Committee, NCMC, at the Ministry’s headquarters in Abuja. Abubakar tasked the newly inaugurated NCMC as part of its terms of reference on urgent draft charter for the operations of NCMC which will enable an Executive Bill to be forwarded to the National Assembly for legal backing. He explained that the inauguration is the culmination of enormous collective efforts based on a recent visit by some officials from his Ministry to one of the largest world cocoa producing and exporting countries, Ghana to study the implementation of Living Income Differential, LID. According to him, Ghana and Cote d’ Ivoire introduced the Living Income Differential, LID, as a premium on their cocoa and as tool to complement their prices of cocoa in international market. He said Nigeria cannot wait to join Ghana and Cote d’Ivoire, and in order to work out modalities for Nigerian cocoa farmers to start benefitting from this initiative like their counterparts in Ghana and Cote d’ Ivoire, this committee is being set up. Cocoa farmers will benefit from Living Income Differential (LID) of $400 per tonne along with counterparts in Ghana and Cote d’Ivoire. This was made known by the Minister of Agriculture and Rural Development, Dr Mohammad Abubakar, in a keynote address during inauguration of 11-man National Cocoa Management Committee, NCMC, at the Ministry. However, the Minister highlighted challenges in the cocoa industry the Committee is expected to tackle which include; pest and diseases, logistics such as rural roads and infrastructure, old Cocoa plantations, ageing Cocoa farmers, processing, access to finance, environmental concerns such as deforestation, climate change and absence of a National Coordinating body. The Committee is made up of Chairman, ENGR Adbullahi Garba ABUBAKAR, Federal Ministry of Agriculture and Rural Development, Abuja; Secretary, Dr Patrick Adebola, Cocoa Research Institute of Nigeria, CRIN, Ibadan; Member, Olutobaba Ajayi, Federal Ministry of Agriculture and Rural Development; Member, Ibrahim Mohammed, Federal Ministry of Agriculture and Rural Development; Member, S.O. G Tuayeringha, Federal Ministry of Industry, Trade and Investment; Member, James Oyesola, Ministry of Agriculture, Ogun State; Member, Williams Ifere, Ministry of Agriculture, Cross River State; Member, Prince Martins Awofisayo, Harvestfields Industry Limited; Members, Adeola Adegoke, Cocoa Farmers Association of Nigeria; Member, Muktar Bolarinwa, Cocoa Association of Nigeria; and member, Central Bank of Nigeria, CBN. He said: “The purpose of this is to increase the share benefits received by cocoa farmers in these countries. The minister outlined the duties of the NCMC to to the committee. Meanwhile, the Chairman of the Committee who also doubles as Director, Federal Department of Agriculture, FDA, Engr Abdullahi Abubakar, said the Committee is commencing their assignment immediately, and it would start with drafting a Nigerian Cocoa Charter, which will be a prerequisite to join Ghana and Cote d’Ivoire Initiative. He added that the leadership of the Ghana and Cote d’Ivoire Initiative will see what the Committee has done by September 2022, and based on this the whole of August would be used to ensure the Nigeria Cocoa Charter is ready. He also said there will be value addition in terms of processing, and the Ministry is supporting the cocoa value chain from beginning to end, hence no need to export raw cocoa to the international market.

Posted on: 2022-08-11

Nigeria Govt. Has Expressed Interest To Implement LID

Nigerian government joins the race to effect the Living Income Differential (LID) of $400 on every tonne of cocoa beans sold to enhance farmers’ livelihood with Ghana and Cote d’Ivoire. The Director for Nigeria’s Federal Ministry of Agriculture and Rural Development, Mr. Abdullahi Abubakar, who led a team to the Ghana Cocoa Board, said the move would help in boosting the income of the smallholer Cocoa farmers. The delegation met the officials of the COCOBOD in Ghana to examine the operations of the LID as designed to smallholder Cocoa farmers in Ghana. Mr. Abubakar, who read the speech on behalf of Dr. Ernest Umakhihe, the Permanent Secretary, Federal Ministry of Agriculture and Rural Development, said Nigeria’s unregulated and liberalized Cocoa Industry, was depriving small holder farmers of yearly revenues as they were unable to collect the LID. The LID system which was established by Cote D’Ivoire and Ghana in 2019 is set to be the Cocoa Markets Organisation of Africa and if fully implemented in the region can be compared to the organisation of petroleum exporting countries where prices of cocoa will be regulated.” “Nigeria being lined up to join the LID system will also guarantee that the premium charged in the $100 billion Chocolate Industry will help in boosting the income of the small holder farmers,” he added. Reacting on the interest the Chief Executive of COCOBOD, Joseph Boahen Aidoo, said some structures ought to be put in place for the LID to work in Nigeria. He said while Ghana and Cote d’Ivoire implemented a centralised regulatory system, trading and marketing in Nigeria were done by individual private companies without any centralised regulation. “This makes it difficult for the LID to flow smoothly to the farmers because the LID ought to be given in total farmer. But where there is no control, it becomes difficult to ensure compliance of the flow,” Mr Aidoo said. Besides, Nigeria must also join the Ghana Cote d’Ivoire Cocoa Initiative, sign the Cocoa Charter and ensure its promulgation by the national assembly to be able to benefit from the initiative. He said Nigeria coming on board would present a formidable force and a stronger say in the market in determining prices.

Posted on: 2022-05-25