President Bola Ahmed Tinubu has approved the draft bill for the Establishment of the National Cocoa Management Board (NCMB) to regulate the Cocoa sub-sector for economic development.
This bill which was approved by the president during Monday’s FEC meeting would empower the NCMB to enhance Nigeria’s opportunities in the global cocoa market and improve the prosperity of Cocoa farmers in Nigeria.
About Proposed Bill
The NCMB bill when passed into law would help create a sustainable Cocoa economy that will be the leading GDP contributor through a resurgence in production and industrialization to trigger robust domestic consumption, farm gate prosperity, youth engagement and increased foreign exchange earnings from the export of Cocoa.
The board when established would also help rehabilitate and develop cocoa plantations, approve, regulate and enforce all market rules as well as Provide soft credits to cocoa farmers.
The NCMB bill is expected to be transmitted to the National Assembly for enactment soon.
