Nigerian government will revive cocoa industry, says Shettima

Nigerian government will revive cocoa industry, says Shettima

The Nigerian federal government, represented by Vice-President Kashim Shettima, has committed to revitalizing the country’s cocoa industry and the broader agricultural value chain. This pledge was made during a meeting with a delegation from the World Cocoa Foundation (WCF), led by its president, Chris Vincent, at the Presidential Villa in Abuja.

Vice-President Shettima emphasized President Bola Tinubu’s administration’s goal to shift Nigeria from primarily producing raw cocoa beans to becoming a major global processor of cocoa products. To support this vision, the Federal Executive Council recently approved the establishment of a National Cocoa Management Board (NCMB), aimed at rejuvenating cocoa farming and strengthening the entire cocoa value chain in the country.

Shettima noted Nigeria’s past status as a leading cocoa producer, which declined due to a national focus on oil. He highlighted the opportunity presented by the ‘Renewed Hope Agenda’ to restore the sector and add value by processing cocoa locally rather than exporting raw beans. The vice-president pointed out the economic benefits of cocoa processing: raw cocoa fetches about $9,000 per tonne, processed cocoa up to $30,000, and chocolate bars even more, around $50,000, demonstrating significant potential for increased revenue.

He also stressed the availability of Nigeria’s youthful workforce, with an average age of 17, as a strong foundation for agricultural growth and job creation. To lead by example, Shettima announced plans to personally establish a cocoa farm to demonstrate the government’s commitment to creating employment and improving livelihoods rather than just seeking profit.

In collaboration with the WCF, the government intends to allocate 10,000 hectares of land in Taraba State to boost cocoa farming and attract investments. Chris Vincent from the WCF expressed eagerness to partner with Nigeria, especially in light of global cocoa shortages and rising prices. He underscored the urgency and potential for sustainable growth in the sector, aligning with the European Union’s sustainable cocoa regulations and highlighting Nigeria’s promising ambition.