Cross River State Cocoa Dev't Trajectory Plan N5 Billion Agro-Financial Intervention for 2024, to focus on Boki LGA and the FCMB

 

By Pascal King | SAIDI NGO

Cocoa botanically also known as Theobroma Cacao is one of the most precious economic tree plant in the world owing to its multifaceted benefits to the human life. Cocoa is synonymous to chocolate a popular beverage which is highly medicinal with invaluable contribution to human growth and development. This tree plant has a favourable growth environment in the the African continent aside South America and Asia. The world has continued to yearn and demand for it as a food delicacy constituents particularly in Europe and America.

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Interestingly, the Cocoa Bean seeds is used to make Chocolate Liquor, Cocoa Solids, Cocoa Butter and Chocolate. As at today, Africa top the world list of the largest producers of Cocoa with Ivory Coast as the world's number one having a tonnage of 1,963,949, followed by Ghana with 947,632, Indonesia 593,832, Nigeria at number 4 with 332,927, Cameroon 307,867, Brazil 239,387 giving a world total tonnage of 5,252,377 according to 2018 global statistics from United Nations FAOSTAT( Food and Agricultural Organization Statistics).

By interpretation, in 2018, World production of Cocoa beans was 5.3 million Metric tons (5.8 million short tons), led by Ivory Coast with 37 percent of the total.

Given the aforementioned background, it's gratifying to note that Nigeria is a strong Cocoa producing nation at number 4 in the world competing vigorously to at some point top the list if proper attention is given to the Cocoa Production Agro-subsector of the economy. Today, in Nigeria, Cross River State is not left out of the equation as the State is all out to grow her Agro-base economy using the Cocoa Production. The current Public Private Partnership deal struck between Cross River State Ministry of Agriculture and Irrigation through Support for Africa Integration and Development Initiative SAIDI NGO and First City Monument Bank FCMB group lending Department with Boki Local Government Area, has boosted greatly the Cocoa Development and Production efforts thereby putting Cross River State at a more strategic position. 

Consequently, this laudable drive has birthed the new face of Cocoa recognition and award to a Cross Riverian of Boki origin as the winner billed to represent Cross River State and Nigeria in a global Cocoa event billed for the Netherlands this February 2024.

This development is geared towards wealth creation, job opportunities, economic growth with the FCMB Agro Intervention fund of Five Billion Naira (N5,000,000,000.00) aimed at making Boki Local Government Area a Cocoa Development export hub of Cross River State.

To this end, all critical stakeholders in the Cocoa Agro-subsector of the economy are encouraged to double their efforts in this direction given the fact that the monolithic oil economy is beginning to gradually dwindle. The prospects in Agro-base economy using the Cocoa Development Initiative is good enough to sustain our economy and improved standard of living. Let's place our State and Nigeria as the number one in Cocoa Production in the world.