Business & Finance

Nigerian cocoa farmers lose 5% production yearly

Mr Ademola Adegoke, the National President, Cocoa Farmers Association of Nigeria (CFAN) on Monday said Cocoa farmers lost five per cent of their farm produce yearly due to lack of support from stakeholders.

Adegoke made this known in Abuja, while listing some of the challenges that contributed to the gross fall of Cocoa production in Nigeria.

He said that going by the data of output of crops in Nigeria, there had been a downturn that had affected cocoa production from 2011 to 2015 and investment in the sector.

We believe the nation is losing millions of revenue in this regard with farmers at the suffering end.

With this percentage of loss, we believe it is as a result of things left undone by stakeholders in the sector.”

Adegoke said in the western region, the story of cocoa was different as the production of the commodity was about four million metric tonnes, but presently, Nigeria is only producing less than 250,000 tonnes.

We heard that in Nigeria, only a small amount comes to farmers as revenue and how do we intend to grow the sector.”

He said in Ghana, there were interventions but in Nigeria what intervention do we have?

We believe to grow the economy, there are lot of things needed to be done; the issue of irrigation is very important and most of our rehabilitation of cocoa farms which are in jeopardy was because of the heat waves.

We call on government, private sector and farmers to come together to proffer solutions in this area,” he said.

He said another challenge facing cocoa farmers was finance, there were a lot of problems on finance from government and other institutions to support farmers grow their produce.

Source: Voice of Nigeria