Nigeria: Tinubu urged to fund cocoa sector as EU deadline looms

Cocoa farmers have appealed to President Bola Tinubu to urgently address funding for the sector to prevent a setback in their current prosperity. This is as the EU plans to sanction unsustainable cocoa in its market after December 2024, now extended by an additional 12 months. The farmers under the aegis of Cocoa Roundtable Initiative (CORI), pointed out that the EU policy might affect Nigeria cocoa sector if proper regulation, funding and legal framework to support National Cocoa Management Committee (NCMC) and National Task Force (NTF) operations to combat the industry challenges are not put in place. The group urged Mr. President, Governors of the cocoa producing States and lovers of the Nigerian cocoa industry to look into the funding and legal framework support to NCMC through the National Assembly in order to save the industry from regulatory lapses that could undermine the present gains of high price of cocoa beans that is not less than 10million per MT that the cocoa ...