…Says ‘Cocoa to sell for $240,000 per tonne, with value addition’
There are indications that three years after President Bola Tinubu chose the shock therapy, with the proclamation that ” subsidy is gone”, Cocoa production is set to be a major beneficiary of the industrial hubs, set up to boost agriculture value addition and Micro, Small and Medium Enterprises MSME.
President Tinubu had likened the reforms to childbirth: long labour, intense pain, then relief, that would eventually push Nigeria somewhere to the land of economic prosperity.
The subsidy regime has seen Nigeria spent as much as $81b between 2005 and 2022, with the distorting effects on all aspects of the economy, including the abandoned factories, crippling the production of goods and services.
Sunday Dare, Special Adviser to the President on Media and Publicity, said statistics illustrate that Nigeria which hitherto sold raw cocoa for about $8,000 per tonne, is now
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