OSOP In Ondo Identifies Cocoa As Commodity For Export promotion
COCOA production has been identified as the commodity for export promotion in Ondo state under the One State One Product (OSOP) initiative of the Federal Government through the Nigerian Export Promotion Council, (NEPC).
This was disclosed by the Head/Trade Promotion Advisor, NEPC Akure, Mr. Macpherson Fred-Ileogben during a two-day capacity building workshop on One State, One Product (OSOP) Export Development Model organised by NEPC in Akure, Ondo State capital.
Fred-Ileogben said the country’s economy would do better with a ‘One State, One Product (OSOP),’ initiative, which could bring about the diversification vision of the federal government from oil to non oil sectors.
He noted that Nigeria’s over dependence on crude oil in the last five decades has left the country’s earnings vulnerable to price changes which in recent times crashed in the international market leading to a reduction in Nigeria’s oil revenue from US$70 billion in 2014 to less than US$40 billion in 2015.
He disclosed that NEPC developed a game changer tagged Zero Oil Plan in 2015 to boost foreign exchange earnings through the non-oil sector further, saying that the OSOP programme if being implemented will go a long way in boosting the effort of each state of the federation in focusing on at least one product for export.