President Bola Tinubu has urged African countries to move away from exporting raw cocoa beans and prioritise value addition to secure a greater share of the global chocolate industry.
Tinubu made the call on Tuesday at the Africa Cocoa Summit in Abuja, themed “From Bean to Brand.” He was represented by the Minister of Agriculture and Food Security, Senator Abubakar Kyari.
The President noted that although Africa accounts for about 70 per cent of global cocoa production, the continent retains only about six cents of every dollar generated by the global chocolate industry.
“We have gathered in Abuja today not to lament that reality but to change it,” he said.
Tinubu said Nigeria was committed to processing cocoa locally, manufacturing chocolate, developing homegrown brands and competing in international markets rather than exporting raw cocoa beans.
He described value addition as a key pillar of the Renewed Hope Agenda and the country’s industrialisation strategy.
According to him, investors are currently developing a 70,000-tonne cocoa processing facility in Shagamu, while Nigeria’s annual cocoa grinding capacity has surpassed 120,000 tonnes.
Earlier, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said the summit aligns with the Federal Government’s goal of building a one-trillion-dollar economy by 2030.
She noted that despite Nigeria’s significant contribution to global cocoa production, the country earns only a small portion of the value generated from the commodity.
Oduwole said the government is promoting cocoa value addition through manufacturing incentives, investment promotion and stronger collaboration among relevant agencies.
She added that efforts are also underway to improve market access through existing trade agreements and the African Continental Free Trade Area (AfCFTA).
The minister urged investors to take advantage of opportunities across regional and global cocoa value chains to unlock the industry’s full potential.
Also speaking, the Minister of State for Industry, Senator John Enoh, described the summit as another milestone in implementing Nigeria’s Industrial Policy.
He announced that the Cocoa Value Addition Alliance would bring together Nigeria, Ghana, Côte d’Ivoire and Cameroon, which collectively account for about 75 percent of global cocoa production.
According to Enoh, the alliance will deepen regional cooperation and enable cocoa-producing countries to retain a greater share of the value generated from the global cocoa market.
“We are not here to disrupt existing partnerships but to expand them,” he said.
He urged African nations to move beyond exporting raw cocoa beans and focus on producing branded cocoa products for global markets.
The summit concluded with the signing of the Abuja Declaration on Cocoa Value Addition, reaffirming the participating countries’ commitment to strengthening cocoa processing, industrialisation and regional collaboration across Africa. (NAN)
