Vice President Kashim Shettima has reiterated the Tinubu administration’s commitment to revitalizing Nigeria’s cocoa industry, shifting focus from raw production to lucrative processing. This strategic move aims to leverage the agricultural value chain for greater economic benefit.
Speaking yesterday at the Presidential Villa during a meeting with the World Cocoa Foundation (WCF) delegation, led by President Chris Vincent, Shettima underscored the government’s drive to foster sustainable cocoa farming, enhance forest preservation, and significantly add value to Nigeria’s cocoa exports.
He announced a key development: the recent approval by the Federal Executive Council (FEC) for the establishment of a National Cocoa Management Board (NCMB). This board is tasked with spearheading the sector’s transformation.
Shettima highlighted the dramatic increase in global cocoa prices, emphasizing the financial imperative of value addition. “A tonne of raw cocoa might earn you $9,000, but when processed, it can bring in $30,000 and up to $50,000 if turned into chocolate bars,” he noted.
Pledging Nigeria’s full cooperation with the WCF, the Vice President committed to personally engaging the Taraba State governor to secure 10,000 hectares of land in Kurmi Local Government Area for cocoa expansion initiatives by WCF and its partners.
In response, WCF President Chris Vincent expressed the Foundation’s eagerness to collaborate with the Nigerian government, particularly in light of the European Union’s sustainable cocoa regulations. “We’re in the middle of a global cocoa supply shortage, and prices have quadrupled in the last three years. We’re looking for new, sustainable sources of cocoa, and Nigeria is well-positioned for growth,” Vincent stated.
