Daily Trust

FG shifts at­ten­tion to co­coa as CBN flags off rev­o­lu­tion loans

- From Bola Ojuola, Akure Business · Nigeria News · Agriculture · Industries · Oyo · Osun State · Edo State · Ogun State · Kwara State · Akure · Cocoa · Nigeria · Central Bank of Nigeria (CBN) · Central Bank of Nigeria · Wema Bank · Obafemi Awolowo · Olusegun Mimiko

Ato­tal 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 reen­er­gise, 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.



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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