THE EFFECT OF COCOA FARMING ON THE ECONOMY OF NIGERIA

THE EFFECT OF COCOA FARMING ON THE ECONOMY OF NIGERIA (ECONOMICS PROJECT TOPICS AND MATERIALS)

CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF STUDY

Cocoa farming has really contributed to most of the agricultural sectors in Nigeria. As we all know; agriculture has done a lot in the time of old even when crude oil was not the major source of revenue in Nigeria. Agriculture has provided food for almost the entire population of Nigeria; is it employment? Farmers that operates on a larger scale tends to employ more labour .Cocoa farming is a very vital part of agriculture as it provide food for the entire population of Nigeria, raw material for industry, it also serve as a source for foreign exchange in Nigeria.Cocoa has really contributed to the economic development of Nigeria.During the 50s when agriculture was the major source of income and economic development, the value of the Nigeria currency was very much appreciated and the standard of living was very much manageable. In Nigeria of today, virtually everybody is now running away from agriculture. Everybody is looking at the oil sector.

Nigeria is blessed with variety of agricultural products; cocoa is one of them. It does not seem to perish easily.

Cocoa can be largely supplied to every part of the country and its demand is on the high side.

Cocoa farmers are considered the wealthiest because the value of the product and the demand of such products.

1.2 STATEMENT OF PROBLEM

The economy of Nigeria is on the low side because of the drop in the price of oil and most of the Nigeria citizen has really abandoned agriculture. When crude oil was not much in supply in the early 50s agriculture was the major source of revenue for both the government and the citizens of Nigeria. Most of the people said that there is capital to set up a big farm. Some said no machinery and the government policy is not allowing them practice on a larger scale.

THE EFFECT OF COCOA FARMING ON THE ECONOMY OF NIGERIA (ECONOMICS PROJECT TOPICS AND MATERIALS)