Vice President Kashim Shettima has reiterated the Tinubu administration’s commitment to transforming Nigeria’s cocoa industry from a raw commodity export model into a robust value-added processing sector, in line with the government’s broader strategy to revamp the agricultural value chain.
Speaking at the Presidential Villa during a meeting with a delegation from the World Cocoa Foundation (WCF) led by its President, Mr. Chris Vincent, the Vice President said the government is prioritizing sustainable cocoa production and forest preservation, while actively creating opportunities for local processing and manufacturing.
“We used to be one of the world’s leading cocoa producers, but with the discovery of oil, the sector was neglected. Now, with President Tinubu’s Renewed Hope Agenda, we are returning to the drawing board,” Shettima said.
He announced that the Federal Executive Council recently approved the establishment of a National Cocoa Management Board (NCMB) to drive the sector’s revitalisation and manage the cocoa value chain more effectively.
Shettima emphasized that Nigeria must transition from being a primary producer to a competitive processor on the global cocoa market, noting that the country has the manpower and youth capacity to achieve this shift.
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“A tonne of raw cocoa may fetch $9,000, but when processed, it can earn $30,000—and even $50,000 when converted into chocolate. We have the manpower and the vision to bridge that gap,” he said.
The Vice President disclosed that he is personally establishing a cocoa farm to demonstrate leadership and commitment, stating that his motivation goes beyond profit to employment creation and social impact.
“This is about social welfare, not profit. It’s about employing people and inspiring belief in this new direction,” he added.
He pledged government support to the WCF and assured the delegation of cooperation in securing 10,000 hectares of land in Taraba State’s Kurmi Local Government Area for cocoa investment and expansion.
In his remarks, WCF President Chris Vincent expressed the Foundation’s readiness to partner with Nigeria, noting that global cocoa demand is outstripping supply. He said the current shortage—marked by a fourfold increase in cocoa prices over the last three years—presents a timely opportunity for Nigeria to reclaim its place in the global cocoa economy.
“The next two to three years are critical. Nigeria has the ambition and capacity to grow its cocoa sector sustainably, and we want to support that vision in alignment with EU standards,” Vincent stated.
In a related development, Vice President Shettima also met with senior executives of Vitol Group— the world’s largest independent energy trader—on Monday to discuss Nigeria’s pursuit of a $25 billion undersea gas pipeline project aimed at supplying natural gas to Europe.
The Vice President highlighted Nigeria’s positioning as a prime destination for energy investments, owing to President Tinubu’s bold reforms, including the removal of fuel subsidies, exchange rate unification, and tax restructuring.
“We’ve not had a leader in 25 years who has taken such far-reaching decisions. Nigeria is now on a new trajectory, and this is where the action is. Invest in Nigeria,” Shettima said.
He noted that Nigeria holds the world’s eighth-largest natural gas reserves, underscoring the government’s ambition to leverage this advantage in securing long-term energy partnerships.
“This is a gas economy. We want to unlock the full potential of the sector, especially because of its relative stability and transparency,” he added, citing the Nigeria Liquefied Natural Gas (NLNG) company as a model of predictability and good governance.
Vitol’s Chief Financial Officer, Jeffrey Dellapina, reaffirmed the company’s long-standing commitment to Nigeria, citing past engagements in financing, trading, and government-backed energy initiatives.
“Nigeria is a key country for us, and we’ve been involved in everything from downstream trading to emergency financial support,” Dellapina said.
Vitol Group’s Head of Public Affairs, Murtala Baloni, also highlighted the company’s role in funding Project Gazelle, a crude oil-backed forward-sale facility by NNPC Limited, to which Vitol contributed $300 million during the COVID-19 period.
Present at the meeting was Vitol Nigeria Country Manager, Mr. Thomas de Montulé, who reaffirmed the company’s intention to deepen its footprint in Nigeria’s energy sector through strategic capital deployment and technical expertise.
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