Vice President Kashim Shettima has reiterated Nigeria’s commitment to revitalizing its cocoa industry and expanding the agricultural value chain, with the goal of becoming a leading global processor of cocoa rather than solely a producer.
He made this assertion during a meeting with Chris Vincent, President of the World Cocoa Foundation (WCF), in Abuja.
Shettima highlighted the government’s recent approval for the establishment of a National Cocoa Management Board as a testament to its dedication to the sector.
The WCF seeks to collaborate with Nigeria to rejuvenate the country’s cocoa industry, aligning it with the European Union’s sustainability standards.
The Vice President also emphasized Nigeria’s abundant manpower and the enthusiasm of its youth to engage in the agricultural sector.
“We don’t want to be producers of cocoa; we want to be processors of cocoa because a tonne of cocoa will fetch you $9,000 now, but processed cocoa will get you $30,000. If you turn them into chocolate bars, that might fetch you $50,000.
“So, we have the manpower, the average age of the nation is 17. We have very virile young men who are willing to work if they have the opportunity. So, I’m speaking from the heart,” he maintained.
The Vice President pledged Nigeria’s readiness to work with the World Cocoa Foundation.
He said he would personally engage Governor Agbu Kefas of Taraba State to secure the 10,000 hectares in the Kurmi Local Government Area of the state for the WCF and other partners to expand their investments in the nation’s cocoa industry.
Underscoring the Nigerian leadership’s commitment to be actively involved in the process, he said, “I want to walk the talk. It is not even about the profit criteria; no. It’s about the social welfare criteria — employing people.
“Look, let me take you to my farm and you’ll be convinced that the new Nigerian leadership is actively involved and is itching to drive the process.”
WCF’s president highlighted the severity of the current shortage, noting that cocoa prices have quadrupled in the past three years.
He emphasised that this partnership presents a significant opportunity for Nigeria to expand its sustainable cocoa production during this supply deficit.
“We are in the middle of a global cocoa supply shortage, and the prices have risen four times over the last three years. We are looking for new supplies of cocoa, sustainable cocoa in particular.
“The key thing here is that we have a clear alignment with industries which need to grow in supply sustainably, and I’m aware of the Nigerian State’s ambition to grow cocoa as a crop, and I know the opportunity is now. Because we are in a supply deficit, the next two to three years are an opportunity for growth,” Vincent explained.