Vice President Kashim Shettima has declared that the Tinubu administration is on a mission to transform Nigeria from a raw cocoa-producing nation to a global hub for cocoa processing and chocolate exports.
Shettima made this known on Monday at the Presidential Villa, Abuja, while receiving a delegation from the World Cocoa Foundation (WCF) led by its President, Chris Vincent. He emphasised that the government was not only seeking to revitalise cocoa farming but to significantly deepen value addition within the agricultural sector.
“We don’t want to be producers of cocoa; we want to be processors,” Shettima said. “A tonne of cocoa will fetch $9,000, but processed cocoa products can bring in as much as $50,000. It’s time we harness this potential.”
To back this ambition, he revealed that the Federal Executive Council (FEC) had approved the establishment of a National Cocoa Management Board, which will coordinate efforts to restore Nigeria’s position as a major player in the global cocoa market.
Revealing personal commitment, the Vice President said he had already begun cultivating a cocoa farm as a model to inspire national participation, saying, “It is not about profit, but social welfare and job creation.”
He added that Nigeria has the manpower to scale up operations, with the average national age being just 17, and many young people eager to work if given the right opportunities.
WCF President Chris Vincent welcomed Nigeria’s renewed focus, noting that the global cocoa supply was facing a shortfall and prices had quadrupled in the past three years. “This is an opportunity for Nigeria to grow its share sustainably,” he said.
$25 Billion Undersea Gas Pipeline to Europe
In a parallel high-stakes economic move, Vice President Shettima also revealed that Nigeria is seeking $25 billion in investments for the ambitious Nigeria-Morocco undersea gas pipeline, a strategic project to export Nigerian gas to Europe.
READ ALSO: Shettima Urges Action to Improve ENT Healthcare in Nigeria
During a meeting with the Vitol Group, the world’s largest independent energy trader, Shettima pitched Nigeria as an attractive investment destination due to President Tinubu’s far-reaching reforms.
“President Tinubu has shown unmatched courage — subsidy removal, FX unification, tax reforms. This is a new Nigeria, and we’re open for business,” he said.
Describing Nigeria as a gas economy, not oil, Shettima highlighted the country’s vast reserves and a stable, transparent LNG sector as major incentives for global investors. “We have the eighth-largest gas reserves in the world. It’s time to move, and we need your technical expertise more than your money,” he told the Vitol delegation.
The gas pipeline project, set to connect Nigeria to Morocco and onward to Europe, is designed to offer long-term energy stability for both West Africa and Europe amid global supply uncertainties.
Vitol Group CFO Jeffrey Dellapina reaffirmed the company’s commitment to Nigeria, saying, “We are always ready to deploy capital and evolve with Nigeria.” Vitol had previously contributed $300 million to Project Gazelle during the COVID-19 pandemic.
With Nigeria’s twin strategy of revitalising agriculture and expanding energy exports, Shettima stated, “This is where the action is. Invest in Nigeria.”