News Review: RETOOLING THE ECONOMY THROUGH AGRICULTURE (ThisDay)
According to ThisDay Newspaper, Governor Bassey Otu’s strategic initiatives to harness the agricultural potential of Cross River State are a pivotal development for the agri-food sector. By focusing on key commodities like cocoa, palm oil, and coffee, the governor is not just aiming to increase production but is also enhancing the entire value chain, which could lead to substantial economic benefits.
Economic Growth and Diversification: By increasing the production and improving the quality of these commodities, Cross River State can diversify its economic base, reduce dependency on federal allocations, and increase resilience against economic downturns. This diversification is crucial for sustained economic growth.
Value Addition and Export Potential: The focus on value addition—transforming raw agricultural products into finished goods—can significantly increase the state’s revenue through local sales and exports. With palm oil and its by-products alone capable of contributing significantly to Nigeria’s GDP, the economic implications are vast.
Job Creation and Social Impact: These initiatives are likely to create numerous jobs across the value chain, from farming and processing to logistics and marketing, thereby reducing unemployment and improving livelihoods.
Sustainability and Environmental Consideration: The establishment of new cocoa estates and the allocation of oil palm seedlings underscore a commitment to environmentally sustainable practices, which are increasingly important for international market access and ecological health.
Governor Otu’s focus on these strategic crops, backed by a robust plan and stakeholder involvement, promises not just economic prosperity but a legacy of improved infrastructure and governance, contributing to the overall development and resilience of Cross River State.
