President Muhammadu Buhari has said that time has come for Nigeria to take its rightful place again in Cocoa production; to reduce over reliance on already shrinking oil revenues, adding that the continued decline of the commodity will no more be acceptable.
Buhari noted that before now, cocoa was the second largest foreign exchange earner for Nigeria after crude oil where over two million direct and indirect jobs were created along the value chain.
The President said this on Monday in his keynote address to the opening ceremony of the First International Cocoa Summit holding in Abuja.
Buhari, who was represented by the Minister of Agriculture, Audu Ogbe, said government is very worried that the decline of Cocoa has moved the nation from her 4th position to 7th position in global Cocoa production.
He said that the country is long overdue to make the shift from being primarily an exporter of commodities and raw materials to becoming an industrial economy.
-The Guardian Nigeria