Nigeria is making an assertive push to transform its role in the global cocoa market, moving beyond raw material export to become a major processor. This ambition comes at a strategic time, as the world faces a significant cocoa supply deficit and prices continue to soar.
Vice President Kashim Shettima articulated this vision in Abuja during a meeting with Chris Vincent, President of the World Cocoa Foundation (WCF). Shettima emphasized Nigeria’s commitment to unlocking the full value of cocoa through local processing, which will create jobs and ensure compliance with emerging international sustainability standards.
“We don’t want to be producers of cocoa; we want to be processors,” Shettima declared. He highlighted the significant economic advantage: “A tonne of raw cocoa might fetch $9,000, but if processed, it can command up to $30,000, and as chocolate bars, even $50,000.”
National Cocoa Management Board Approved
A concrete step in this transformation plan is the recent approval of a National Cocoa Management Board. This board will be crucial in coordinating investment and overseeing the cocoa value chain, particularly in light of heightened global demand and stricter European Union sustainability regulations.
10,000 Hectares Set Aside in Taraba
Further demonstrating Nigeria’s commitment, Shettima revealed plans to personally engage Taraba State Governor Agbu Kefas to secure 10,000 hectares of land in Kurmi LGA. This land will serve as a base for WCF and other strategic partners interested in investing in Nigeria’s cocoa sector.
“We want to walk the talk. This is not just about profit, but about the social welfare impact — putting people to work and driving inclusive economic growth,” he stated. He also pointed to Nigeria’s youthful population, with a median age of just 17, as a significant asset for building a vibrant, agribusiness-oriented workforce. “We have virile young men willing to work. The key is providing them the opportunity.”
Global Cocoa Supply Crisis Creates Opening
Chris Vincent of the WCF affirmed that the current global cocoa shortage, which has seen prices quadruple in the last three years, presents a unique opportunity for Nigeria, especially in sustainable cocoa production.
“We are in the middle of a global cocoa supply deficit, and the next two to three years are crucial,” Vincent stated. He noted strong industry alignment and increasing demand for sustainably sourced cocoa, adding, “Nigeria is well positioned if the right structures are in place.”
Vincent reiterated WCF’s commitment to partnering with Nigeria, ready to facilitate investments, training, and traceability mechanisms that align with both EU market expectations and long-term sector growth.
Private Sector Role & Next Steps
This meeting signals a renewed push by the Nigerian government to attract international capital and technology into agro-processing, with cocoa at the forefront. As global buyers diversify their sourcing beyond traditional giants like Ivory Coast and Ghana, Nigeria is strategically positioning itself to become a next-generation cocoa hub, leveraging its land availability, manpower, and high-level political backing.
The long-underutilized cocoa industry in Nigeria is now being repositioned as a strategic driver for export and industrialization. With global prices soaring and regulatory shifts reshaping the supply chain, timely investments and policy execution over the next two years will be critical in determining whether Nigeria successfully seizes this moment.
What are your thoughts on Nigeria’s potential to become a leading cocoa processor?