In a strategic move to reclaim Nigeria’s status as a leading cocoa powerhouse, Vice President Kashim Shettima has announced the federal government’s plan to halt the export of raw cocoa and instead focus on processing and value addition within the country.
Speaking during a high-level meeting with a delegation from the World Cocoa Foundation (WCF), led by President Mr. Chris Vincent, at the Presidential Villa in Abuja, the Vice President outlined the Tinubu administration’s firm commitment to reposition Nigeria’s cocoa industry and agricultural sector.
“We don’t want to be producers of cocoa; we want to be processors of cocoa,” Shettima declared, stressing the importance of transitioning from raw exports to finished products such as chocolate bars, which can fetch as much as $50,000 per tonne compared to just $9,000 for raw cocoa.
The Vice President revealed that the Federal Executive Council (FEC) recently approved the creation of a National Cocoa Management Board (NCMB) to oversee the revitalization of the cocoa sector and drive reforms across the cocoa value chain.
“Let’s walk the talk. We used to be one of the world’s leading cocoa producers before oil distracted us,” Shettima said. “But with the Renewed Hope Agenda, we are committed to regaining our global position.”
Highlighting the youth advantage, Shettima noted that Nigeria has a young and capable population willing to work, provided the right structures and opportunities are in place.
“The average age in Nigeria is 17. We have energetic young people who are ready to work. It’s not just about profit—it’s about social welfare and employment.”
Demonstrating personal commitment, the Vice President disclosed that he is establishing a cocoa farm himself to lead by example. “Come to my farm and see. This leadership is not rhetoric—it’s action,” he said.
Shettima also pledged to work with the Taraba State Government to secure 10,000 hectares of land in Kurmi Local Government Area for cocoa investment by WCF and other stakeholders.
In response, WCF President Chris Vincent affirmed the Foundation’s readiness to support Nigeria’s cocoa ambitions, noting the current global cocoa supply crisis and surging prices as opportunities for Nigeria to capitalize on.
“We’re in a global cocoa shortage, and prices have quadrupled in three years. The timing for Nigeria’s resurgence is perfect,” Vincent said. “WCF represents the biggest names in global chocolate and cocoa production—we are aligned with your goals.”
Nigeria Eyes $25 Billion Gas Pipeline to Europe
In a separate development also on Monday, Vice President Shettima received a delegation from Vitol Group, the world’s largest independent commodity trader, to discuss Nigeria’s $25 billion undersea gas pipeline project aimed at supplying gas to Europe.
Praising President Tinubu’s bold reforms, Shettima said,
“For 25 years, we’ve not had a leader bold enough to take far-reaching decisions like President Tinubu. He removed fuel subsidy, unified exchange rates, and initiated sweeping tax reforms.”
He described Nigeria as a gas economy, with the 8th largest gas reserves globally, inviting Vitol and other international partners to invest in the country’s evolving energy sector.
“This is where the action is. Invest in Nigeria.”
Jeffrey Dellapina, Chief Financial Officer of Vitol, reaffirmed the company’s long-standing relationship with Nigeria and expressed continued commitment to supporting the country’s energy infrastructure and development goals.
Also present were Murtala Baloni, Head of Public Affairs, and Thomas de Montulé, Nigeria Country Manager for Vitol.
Stay with All Times Global Magazine for updates on Nigeria’s agricultural revolution, energy expansion, and global investment partnerships.
