The Federal Ministry of Agriculture and Rural Development, Nigeria has engaged the Ministry Of Food And Agriculture in Accra to understudy Ghana Cocoa Board and its operations on the Living Income Differential (LID).
In 2019, the Governments of Ghana and Cote d’Ivoire introduced a premium on the export of cocoa for the 2020/2021 season known as the Living Income Differential of USD 400 per ton.
This initiative was designed by both countries to help cocoa farmers escape poverty.
The additional revenue was intended to increase the income of farming families to help them achieve a living income.
Through the Ghana- Cote d’Ivoire initiative, the government through the Ministry of Food and Agriculture has continued to implement the Living Income Differential which is helping to improve the welfare of cocoa farmers in both countries.
The Minister of Food and Agriculture, Dr. Owusu Afriyie Akoto addressing his guest noted that “It is significant to note that today, cocoa farmers in Ghana and Cote d’ Ivoire are better-off than their counterparts in other cocoa-producing countries as a result of the LID initiative”.
Dr. Afriyie Akoto explained that “With this, the Federal Department of Agriculture and Rural Development in Nigeria realized that cocoa farmers in their country are not benefiting from what they produce”.
The Sector Minister concluded that the LID has impacted farmers of Ghana-Cote d’Ivoire, adding that, the initiative demonstrates the Ghana-Cote d’Ivoire government’s commitment to sustain the interest of the cocoa farmer in producing cocoa and also improve the well being of these farmers.
Leader of the Delegation, Engr. Abdullahi G. Abubakar averred that they are on a mission to Ghana Cocoa Board to understand the concept of the Living Income Differential ( LID) and put in place a mechanism for Nigeria to also benefit from the initiative.
He said the Federal Republic of Nigeria will be the next country to join the initiative.
He also encouraged other African countries that are into cocoa production to get on board for the benefit of all.
Chief Executive Officer of Ghana Cocoa Board, Joseph Boahen Aidoo Aidoo in his remarks indicated that he had a fruitful engagement with the delegation and briefed them about the whole concept, structure, and principles of the Living Income Differential ( LID).
Fertilizer
The Minister also met a team from the Africa Fertilizer Financing mechanism to discuss a partnership with the Export Trading group Ghana on May 18, 2022.
ETG Ghana offers agricultural inputs including fertilizers, seeds, and agrochemicals. The partnership will help assess factors that hinder fertilizer use in the country and also develop comprehensive financing strategies for improving Ghana’s agricultural productivity.
The principal investment officer of the African Fertilizer Financing mechanism, Maria Makenda assured me that once the board and President of the African Development Bank approved the project, it will set off in Ghana.
The government’s fertilizer subsidy, Planting for Food and Jobs (PFJ) is aimed at improving farming activities in the country.
The Ministry is also working with relevant agencies and private companies to fast track the construction of a fertilizer manufacturing plant in the country to reduce its over-reliance on global supply to ensure food security.
