President Muhammadu Buhari said Nigeria’s revenue from cocoa and sesame seeds has increased by $79.4 million and $153 million respectively in the past year.
He disclosed this in his speech during a national broadcast to commemorate the Nigerian “Democracy Day”, Friday.
“Our efforts on growing non-oil exports have started to yield some results. For instance, in the past year, our revenue from cocoa and sesame seed increased by $79.4 million and $153 million,” he said.
Meanwhile, a report by PREMIUM TIMES early February this year, showed that despite government’s promises and efforts, Nigeria’s cocoa sector was still struggling as it hurtled from its second position in the 60s in the cocoa global market to seventh.
Mr Buhari also said agriculture “remains the key to our economic diversification strategy, and that the Presidential Fertiliser Initiative (PFI) programme continues to deliver significant quantities of affordable and high-quality fertilisers to the Nigerian farmers.”https://tpc.googlesyndication.com/safeframe/1-0-37/html/container.html
“This initiative has also revived 31 blending plants and created a significant number of direct and indirect jobs across the value chain,” he said.
Presidential Fertiliser Initiative (PFI)
Nigeria and Morocco in December 2016 signed a collaboration agreement to revive the abandoned Nigerian fertiliser blending plants.
Following the agreement, about 21 fertiliser plants have been revitalised so far under the initiative with a capacity to produce over 2.3 million metric tonnes of nitrogen, phosphorus and potassium.