FG clarifies position on raw cocoa exports
Represented by Mr Kyari at the Cocoa Value Addition Summit in Abuja, the president said Nigeria could no longer afford to export raw beans while importing finished chocolate products, arguing that local processing would create jobs, attract investment and boost foreign exchange earnings.
The Federal Government has clarified that it has no plans to ban the export of raw cocoa beans, stating its policy is to promote local value addition while maintaining Nigeria’s position in the global cocoa market.
READ ALSO: FG advocates local cocoa processing to end raw bean export At the summit, government officials, development partners and industry stakeholders also endorsed a roadmap to expand cocoa processing, while the Bank of Industry pledged financing for investments across the cocoa value chain.
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