Vice President Kashim Shettima has reiterated Nigeria’s commitment to transforming its cocoa industry from raw material export to full-scale processing, aiming to boost value addition, create jobs, and reclaim its leading position in the global market

The Nigeria cocoa industry is poised for a significant transformation, with Vice President Kashim Shettima reaffirming the federal government’s commitment to shifting from raw commodity production to full-scale processing.

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This strategic move is part of broader efforts to boost value addition and create jobs across the agricultural sector.

Speaking during a meeting with the World Cocoa Foundation (WCF) at the Presidential Villa on Monday, the Vice President stated that President Bola Ahmed Tinubu’s administration is determined to revitalise the nation’s agricultural value chains, beginning with cocoa.

“We don’t want to be mere producers of cocoa; we want to be processors,” Shettima declared, highlighting the substantial difference in global market value between raw and processed cocoa.

“A tonne of cocoa fetches about $9,000, but processed cocoa can bring in $30,000. Chocolate bars can go as high as $50,000.”

To spearhead this vital transformation, Shettima revealed that the Federal Executive Council (FEC) has officially approved the establishment of a National Cocoa Management Board.

This new board will be instrumental in leading reforms aimed at reviving cocoa farming, promoting sustainable practices, and actively encouraging investment in crucial processing infrastructure.

Recalling Nigeria’s former status as a leading cocoa exporter, the Vice President noted that the sector experienced neglect following the oil boom but is now a key component of the Renewed Hope Agenda.

He stressed that the government is actively working to reclaim lost ground through targeted partnerships and strategic investments.

Shettima also pledged robust government support for WCF initiatives in Nigeria and confirmed his personal engagement with the governor of Taraba State to secure 10,000 hectares of land for cocoa farming in the Kurmi Local Government Area.

Chris Vincent, President of the WCF, who led the delegation, indicated that the global cocoa industry is currently facing a significant supply shortage.

He views Nigeria as a critical player in sustainably filling that gap. “Prices have quadrupled in the past three years. The next two to three years present an opportunity for Nigeria,” he stated, underscoring the opportune moment for the country.

In a separate meeting held on the same day, Vice President Shettima also announced that Nigeria is actively seeking $25 billion in foreign investment to construct an undersea gas pipeline that would deliver natural gas to Europe.