Business News of Thursday, 8 May 2025

Source: www.dailytrust.com

We must boost cocoa production to improve nation’s economy – Ondo gov

Gov. Lucky Aiyedatiwa Gov. Lucky Aiyedatiwa

Ondo State Governor Lucky Aiyedatiwa has called for concerted efforts in addressing the major challenges facing the production of cocoa in Nigeria.

Aiyedatiwa, who observed the importance of cocoa to the economy of the country, identified the challenges as climate change, value chain inefficiencies, and poor succession planning.

He spoke on Wednesday at the two-day National Cocoa Stakeholders’ Workshop and Excellence Award Ceremony organised by the Cocoa Association of Nigeria (CAN) in collaboration with Lutheran World Relief (LWR), held in Akure, the state capital.

“To address these challenges, we must work together to develop innovative solutions, leverage technology, and promote sustainable practices. We cannot afford to be left behind in the global cocoa value chain.

“To all participants, I charge you to engage meaningfully, share knowledge and chart a path forward for sustainable cocoa production. Let us work together to address the challenges facing our industry, capitalise on emerging opportunities and ensure the long-term sustainability of our cocoa industry,” the governor said.

Daily Trust reports that the event, themed “Deforestation-Free Cocoa Production and Improved Trade Practices Through Adoption of Sustainable National Traceability System: Key to Industry Growth and Development,” drew players from across the cocoa value chain, including farmers, processors and exporters.

While highlighting the initiatives being implemented by his administration to support the cocoa sector, Aiyedatiwa said the state remained the leading cocoa-producing state in the country.

According to him, the state recognised the industry’s potential for economic growth, poverty reduction and sustainable development.

“As we convene to deliberate on this very apposite theme, we are reminded of Ondo State’s significant contributions to Nigeria’s cocoa production.

National President of the Cocoa Association of Nigeria, Mufutau Abolarinwa, described the workshop as a platform for aligning Nigeria’s cocoa sector with international best practices, stressing the importance of embracing the national traceability system to improve market access, especially in the face of new global requirements on deforestation and sustainable sourcing.

On his part, Victor Halim Iyama, chairman of the board of trustees, expressed confidence in the potential of cocoa to significantly address Nigeria’s foreign exchange challenges.

He noted that the structures currently being established serve as a clear roadmap toward a prosperous future for the industry.