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US president tells Tinubu cocoa can solve Nigeria’s economic problems

US president tells Tinubu cocoa can solve Nigeria’s economic problems

US president, Joe Biden, has called on his Nigerian counterpart, President Bola Tinubu, to invest in cocoa production, processing and exportation as part of his bid to boost the nation’s economy.

According to the US president, exportation of Cocoa from Nigeria to the US has been made free, so that Nigeria could enhance its cocoa production.

Biden stated this in Ado-Ekiti, Ekiti State capital on Thursday at the inauguration of the 2nd National Working Committee of Cocoa Farmers Association of Nigeria (CFAN).

Biden, represented by a member of the Advisory Council on the Ease of Doing Business in Africa, Franklin Amao, noted that America is working assiduously towards providing investment fund for Nigeria.

He added that the US had implemented an act known as ‘African Growth and Opportunities Act’ which will allow products coming from Africa into America on free waybill.

In his words, “The US is interested in seeing more private sectors involved in US companies to engage with the Nigerian economy in particular.

“I want Nigerians to be aware of the African Growth and Opportunities Act which allows products coming from Africa into the US duly free,” he said

On his part, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, represented by Asanya of Isanya Kingdom, Oba Muraina Adedina, also called on the federal government to partner CFAN in order to achieve more for the improvement of the economy.

Also, the president of CFAN, Comrade Adeola Adegoke, congratulated President Tinubu on his inauguration, while calling on the APC-led administration to enforce policies that would affect cocoa production and processing positively.

Comrade Adegoke suggested more low interest loans for cocoa farmers, improved security and friendly policies.


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