The Federal Government is to draw the cocoa industry roadmap in order to attract investments to the sector by holding an International Cocoa Summit from August 28th to 31st in Abuja.
The Minister of State for Industry, Trade and Investment, Aisha Abubakar, who announced this in Abuja, said the summit would target raising the national cocoa production output to 500,000 metric tonnes per year from 2021.
She said the summit is intended to open up global opportunities to local and foreign investors to invest in the country’s cocoa industry.
The summit is organised by the trade ministry in association with Cocoa Association of Nigeria, International Cocoa Organisation, African Ex-Im Bank and governments of the cocoa producing states. The cocoa sector used to sustain Nigeria’s economy before the advent of oil in the 70s and 80s.