In Ghana and Cote d’Ivoire, according to Mr Adegoke, each farmer collects $400 for each tonne of cocoa.
Adeola Adegoke, Cocoa Farmers Association of Nigeria (CFAN)’s president, says Nigeria loses N60 billion annually to non-collection of Living Income Differential.
The money is meant to support smallholder farmers.
Mr Adegoke disclosed this on Thursday in Abuja on the sideline of a workshop organised by the Agricultural Policy Research in Africa (APRA) and the University of Ibadan.
The workshop was meant to review cocoa production policies.
Mr Adegoke added that the association was poised towards leading the country to regain its lost glory in the comity of cocoa-producing countries.
“In the 1960s, Nigeria was producing 590,000 tonnes of cocoa and was adjudged the second largest in the world. When the oil boom came, cocoa was relegated, and in the last two months, cocoa has shown it is the highest to oil in terms of foreign exchange earnings,” he explained. “It means the foreign exchange deficit we are experiencing can only be solved through the economy… As of today, what cocoa is bringing to Nigeria is next to oil. When you look at the percentage, it shows the potential.”
In Ghana and Cote d’Ivoire, according to Mr Adegoke, each farmer collects $400 for each tonne of cocoa. “That is why Nigeria must begin to collect Living Income Differential. Non-collection makes us lose N60 billion annually,“ he pointed out.
He further mentioned that with their dominance as global cocoa producers, Ghana and Cote d’Ivoire’s new Living Income Differential was a bold new move by the two countries to make a fundamental change to the structure of global markets.
Mr Adegoke added that this would ensure that rural producers received a living income.
Munil Uba-Danabundi, the House Committee on Agricultural Colleges, Universities and Institutions of Agriculture chairman, said formulated policies should be well implemented.
Also speaking, Country Lead and Principal Investigator of APRA in Nigeria, Adeola Olajide, said the government needed to create a cocoa utilisation and consumption policy, adding that Nigeria must consume its cocoa.
(NAN)
