Nigeria’s revenue from cocoa, sesame seeds export increases – Buhari

Published 2020년 6월 12일

Tridge summary

President Muhammadu Buhari announced significant achievements in Nigeria's agricultural sector during his Democracy Day speech, highlighting a notable increase in revenue from cocoa and sesame seed exports by $232.4 million in the past year. This improvement reflects the government's efforts to diversify the economy beyond oil reliance. The Presidential Fertiliser Initiative (PFI) has been pivotal in revitalizing fertilizer blending plants and boosting agricultural productivity, leading to the creation of numerous jobs. Additionally, the CBN Textile Revival Intervention Fund aims to strengthen the cotton, textile, and garment sector by reducing import dependency. The Agriculture sector, a key part of the economic diversification strategy, has shown promising progress, with the Anchor Borrowers Programme further supporting small-scale farmers to enhance food production.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

President Muhammadu Buhari said Nigeria’s revenue from cocoa and sesame seeds has increased by $79.4 million and $153 million respectively in the past year. He disclosed this in his speech during a national broadcast to commemorate the Nigerian “Democracy Day”, Friday. “Our efforts on growing non-oil exports have started to yield some results. For instance, in the past year, our revenue from cocoa and sesame seed increased by $79.4 million and $153 million,” he said. Meanwhile, a report by PREMIUM TIMES early February this year, showed that despite government’s promises and efforts, Nigeria’s cocoa sector was still struggling as it hurtled from its second position in the 60s in the cocoa global market to seventh. Mr Buhari also said agriculture “remains the key to our economic diversification strategy, and that the Presidential Fertiliser Initiative (PFI) programme continues to deliver significant quantities of affordable and high-quality fertilisers to the Nigerian farmers.” ...
Source: PremumTime

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