Nigeria: Govt Shifts Attention to Cocoa As CBN Flags Off Revolution Loans

15 October 2020

Akure — A total of 1221 cocoa farmers across the producing states in the country attended the flag-off of inputs distribution for the cocoa farmers under CFAN-Wema Bank-CBN Anchor Borrowers Support Programme.

The farmers were selected from Oyo, Osun, Ondo, Ekiti, Delta, Edo, Ogun, Abia, Cross River and Kwara.

Addressing the beneficiaries at the ceremony in Akure, the National President of Cocoa Farmers Association of Nigeria (CFAN), Comrade Adeola Adegoke, said this was the first time such incentive would come to cocoa farmers.

This, he noted, was to re-energise, reactivate and boost cocoa production as the scheme had readily captured all necessary farming inputs and loans as kind of stimulation.

According to Adegoke, cocoa revolution was initiated by the Premier of the old Western region, Chief Obafemi Awolowo, through which lots of legal projects, especially Free Western education were executed.

Adegoke urged the youths to embrace cocoa revolution to salvage the economy.

He lamented that the major cash crop was dying gradually in Nigeria, which formerly occupied second position in production but now in eight position.

The CFAN President emphasised on the need to embrace cocoa irrigation, stressing that each farm should have a borehole as agriculture generally would not thrive without water.

While commending both the Central Bank of Nigeria(CBN) represented by Mr Olu Aina and Wema Bank for their kind gesture in lifting cocoa higher, he promised to key into the system that would help his committee represent CFAN well.

According to him, the loan is for 18 months.

At the event, the former Governor of Ondo state, Olusegun Mimiko, who is Nigeria's Cocoa Ambassador, recalled that he was trained through cocoa proceeds to become what he is today, stressing that efforts should be geared towards its revolution.

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