Monday, 30 April 2018

BOOSTING COCOA PRODUCTION WILL INCREASE INTERNALLY GENERATED REVENUE

Rivers/Bayelsa Shippers Association (RIBASA) has charged states in Nigeria with the comparative advantage in cocoa production to build up effort towards boosting production of the cash crop. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html

The Chairman of RIBASA, Offon Udoffia, in a statement recently in Abuja, said that increased cocoa production would increase the Internally Generated Revenue (IGR) of the states concerned. He said cocoa has the capacity to rescue states from deficit and it was imperative for them to galvanise their economic policies for self-sufficiency.

In Udoffia’s own words: “Ondo, Akwa-Ibom, Cross River, Edo and other cocoa producing states should invest more in cocoa production. These states stand the chance of driving viable economy derived from cocoa export than others.”

Citing Mataysia, Udoffia said that agriculture had the capacity to grow the Nigerian economy, adding that investment in cocoa would not only rescue the states from economic insolvency, but would also create jobs for the unemployed youth.

According to him, states will also not have to over depend on federal allocation if cocoa production and export are prioritised. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html He said that cocoa had the capacity of being transformed into several finished products for economic stability.

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