Vice President Kashim Shettima has reiterated the Tinubu administration's commitment to transform the Nigerian cocoa industry of an export model of gross basic products in a solid -added value processing sector, in line with the broader strategy of the government to renew the agricultural value chain.
Speaking in the presidential town during a meeting with a delegation of the Cocoa World Foundation (WCF) directed by its president, Mr. Chris Vincent, the vice president said that the government is prioritizing sustainable cocoa production and forest preservation, while creating opportunities for local processing and manufacturing.
“We used to be one of the world's main cocoa producers, but with the discovery of oil, the sector was neglected. Now, with the renewed agenda of hope of President Tinubu, we are returning to the drawing table,” said Shettima.
He announced that the Federal Executive Council recently approved the establishment of a National Cocoa Management Board (NCMB) to boost the revitalization of the sector and manage the cocoa value chain more effectively.
Shettima emphasized that Nigeria must make the transition from being a main producer to a competitive processor in the global cocoa market, noting that the country has the capacity of labor and youth to achieve this change.
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“A ton of raw cocoa can get $ 9,000, but when it is processed, it can earn $ 30,000, and even $ 50,000 when it becomes chocolate. We have the labor and vision of closing that gap,” he said.
The vice president revealed that he is personally establishing a cocoa farm to demonstrate leadership and commitment, stating that his motivation goes beyond profits for the creation of employment and social impact.
“This is social welfare, not profits. It is about using people and inspiring belief in this new direction,” he added.
He averaged the government's support for the WCF and assured the delegation of cooperation to ensure 10,000 hectares of land in the area of ​​the local Kurmi government of the state of Taraba for the investment and expansion of cocoa.
In his comments, the president of the WCF, Chris Vincent, expressed the preparation of the foundation to associate with Nigeria, noting that the global cocoa demand is overcoming the offer. He said that the current scarcity, marked by an increase of four times in cocoa prices in the last three years, presents a timely opportunity for Nigeria to claim his place in the world cocoa economy.
“The next two or three years are critical. Nigeria has the ambition and the ability to grow its cocoa sector sustainably, and we want to support that vision in alignment with the EU standards,” said Vincent.
In a related development, Vice President Shettima also met with senior executives of Vitol Group, the largest independent energy merchant in the world, on Monday to discuss Nigeria's search for a underwater gas pipeline project of $ 25 billion aimed at providing natural gas to Europe.
The vice president highlighted the positioning of Nigeria as a main destination for energy investments, due to the bold reforms of President Tinubu, including the elimination of fuel subsidies, unification of the exchange rate and fiscal restructuring.
“We have not had a 25 -year leader who has made high -range decisions. Nigeria is now in a new trajectory, and this is where the action is. Invest in Nigeria,” Shettima said.
He pointed out that Nigeria has the eighth largest natural gas reserves in the world, underlining the government's ambition to take advantage of this advantage in obtaining long -term energy associations.
“This is a gas economy. We want to unlock all the potential of the sector, especially due to its relative stability and transparency,” he added, citing the Nigeria Liquefied Natural Gas Company (NLNG) as a model of predictability and good governance.
The Financial Director of Vitol, Jeffrey Dellapina, reaffirmed the company's long data commitment to Nigeria, citing past commitments in financing, trade and energy initiatives backed by the Government.
“Nigeria is a key country for us, and we have been involved in everything, from later trade to emergency financial support,” said Dellapina.
The Head of Public Affairs of Vitol Group, Murtala Baloni, also highlighted the company's role in the Gazelle financing project, a forward sale installation backed by the crude oil of NNPC Limited, to which Vitol contributed $ 300 million during the COVID-19 period.
Present at the meeting was the country manager of Vitol Nigeria, Mr. Thomas de Montulé, who reaffirmed the company's intention to deepen its footprint in Nigeria's energy sector through the deployment of strategic capital and technical experience.
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