Vice President Kashim Shettima has restated the Tinubu administration’s determination to transform Nigeria’s cocoa industry by shifting focus from mere production to full-scale processing and value addition. He also disclosed Nigeria’s push for a $25 billion undersea gas pipeline project to Europe, which would position the country as a global energy hub.
Shettima gave the assurance on Monday during a meeting with a delegation from the World Cocoa Foundation (WCF), led by its President, Mr. Chris Vincent, at the Presidential Villa, Abuja. The visit comes at a time when global cocoa prices are soaring amid supply shortages, prompting major chocolate producers to seek stable and sustainable supply chains.
The Vice President told the delegation that Nigeria is well-positioned to become a major player in the global cocoa value chain, especially with ongoing reforms and renewed policy focus on agriculture. He said the Federal Executive Council (FEC) recently approved the establishment of a National Cocoa Management Board (NCMB), which will oversee and coordinate activities within the cocoa sub-sector.
According to Shettima, while raw cocoa earns decent revenue, the real value lies in processing. “A tonne of raw cocoa might earn you $9,000, but when processed, it can bring in $30,000 and up to $50,000 if turned into chocolate bars,” he said.
He revealed plans to engage the Governor of Taraba State to secure 10,000 hectares of land in Kurmi Local Government Area for sustainable cocoa farming and expansion initiatives in partnership with the WCF and other stakeholders.
Shettima also reaffirmed Nigeria’s commitment to sustainable agriculture, forest preservation, and improved farmer livelihoods. He said the Tinubu-led administration is focused on long-term economic diversification through agriculture and industrialisation, adding that cocoa remains one of Nigeria’s most viable non-oil export commodities.
In response, Mr. Chris Vincent, President of the World Cocoa Foundation, said Nigeria has the potential to become a global cocoa powerhouse. He highlighted the sharp rise in global cocoa prices, which have quadrupled in three years due to a supply crisis. Vincent said the WCF is looking to expand sustainable cocoa production under the European Union’s sustainability regulations, and Nigeria is among the top markets being considered.
“We’re in the middle of a global cocoa supply shortage, and prices have quadrupled in the last three years. We’re looking for new, sustainable sources of cocoa, and Nigeria is well-positioned for growth,” Vincent said. He expressed the Foundation’s willingness to collaborate with Nigeria to meet global standards, improve traceability, and strengthen the country’s competitiveness in cocoa exports.
Meanwhile, Vice President Shettima also disclosed that Nigeria is actively working on a $25 billion undersea gas pipeline project to supply natural gas to Europe, signalling the country’s renewed ambition to be a key player in the global energy transition.
He said the project is part of Nigeria’s long-term strategy to monetise its vast natural gas reserves and contribute to energy security across Europe. The move comes amid increasing demand for alternative gas sources following geopolitical disruptions, including the Russia-Ukraine conflict.
According to him, Nigeria is well-placed to take advantage of its energy assets to boost foreign exchange earnings, create jobs, and reduce dependence on oil. The gas pipeline project aligns with the administration’s broader plan to leverage strategic infrastructure to attract investment and diversify the economy.
The dual agenda of boosting cocoa value chains and expanding gas exports reflects the administration’s focus on economic diversification, industrialisation, and global market integration. As Nigeria seeks to strengthen both its agricultural and energy sectors, international partnerships and strategic reforms are expected to play a pivotal role in driving sustainable development.
