News in brief:
-Â The federal government aims to increase Nigeria coconut production to 500,000 metric tonnes by 2025, doubling the current output.
– Emphasising the economic potential highlighted the benefits of job creation, revenue generation, and economic diversification.
The federal government has announced its goal of significantly increasing coconut production in the country to reach 500,000 metric tonnes (MT) by 2025, up from the current 224,186 MT.
It is eyeing doubling and even exceeding current output by 125%. The government’s plan was unveiled during the 2023 10th International Coconut Festival AGUNFEST held in Badagry, Lagos. The minister of agriculture and Food Security, Abubakar Kyari, explained the significant economic potential that lay in boosting coconut production.
Kyari mentioned that increasing Nigeria’s production level of coconut is capable of making a great economic impact on the country. He also highlighted the potential for job creation, revenue generation, and economic diversification.
To support this goal, the government has committed to providing 1,000 coconut seedlings during the event. Kyari further emphasised the need for collaborative efforts between farmers, researchers, entrepreneurs, and policymakers. He said this was necessary in unlocking the immense potential of the coconut sub-sector.
The federal minister of tourism, Lola Ade-John, also echoed the agriculture minister’s sentiments. She highlighted the immense foreign exchange potential of coconut exports. Ade-John estimated that the country could generate over N20 billion in foreign exchange through coconut and its derivatives. She stated that the coconut industry could provide food, raw materials, income, and employment for Nigerians.
Furthermore, Julian Baricuatro, president of the International Coconut Festival, Canada, spoke in the same vein as Nigeria’s tourism minister. He urged the Nigerian government to incentivise farmers and develop the coconut value chain. Baricuatro emphasised the potential of coconut farming, in terms of employment, by engaging young people. He further added that it will provide consumers with valuable nutritional and health benefits.
Meantime, with the benefit of several factors, Nigeria is poised to become a major player in the global coconut market. These factors include government support, increased farmer engagement and a focus on developing the value chain. Analysts opine that the plan has the potential to significantly impact the country’s economy, while creating jobs and improving the lives of millions of Nigerians.
