The Cross River State Government, through the Office of the Special Adviser to the Governor on Cocoa Produce, Hon. Paul Ndik, has engaged the Bank of Industry (BOI) in Abuja to unlock opportunities for cocoa farmers, cooperatives and agro-processors across the state to benefit from the European Investment Bank (EIB) €85 million facility.
The strategic engagement, led by Hon. Ndik at the BOI headquarters, focused on positioning Cross River’s cocoa value chain to access the facility while strengthening production, promoting local processing and ensuring compliance with the European Union Deforestation Regulation (EUDR).
Hon. Ndik emphasised the strategic importance of the initiative to Cross River’s cocoa economy, noting that the state has the potential to emerge as a leading cocoa production and processing hub in Nigeria.
He said the state government, under Governor Bassey Otu’s People First agenda, would leverage the BOI-EIB partnership to support the establishment of fermentation hubs, small-scale processing facilities and effective traceability systems across cocoa-producing communities.
According to him, the objective is to transform Cross River’s cocoa industry from “Bean to Brand”, thereby increasing farmers’ incomes, creating jobs and expanding economic opportunities for cooperatives, processors and other actors within the value chain.
The engagement also highlighted the need for registered cocoa cooperatives and companies to develop and submit eligible project proposals that meet the requirements of the EIB facility.
The BOI reaffirmed its readiness to partner with the Cross River State Government and encouraged eligible stakeholders in the cocoa value chain to take advantage of the funding opportunity.
The Office of the Special Adviser on Cocoa Produce will subsequently commence the collation of relevant data and Expressions of Interest from cocoa cooperatives across the state to facilitate broad and inclusive participation in the €85 million facility.
The initiative underscores Governor Otu’s commitment to agricultural development, value addition, job creation and improved livelihoods for farmers, with Hon. Paul Ndik spearheading efforts to translate the administration’s cocoa development agenda into tangible opportunities for stakeholders across the state.
