Cocoa: We Can Turn $9,000 Raw Materials Into $50,000 Finished Products — Shettima

Vice President Kashim Shettima said the Bola Tinubu administration is committed to reviving the cocoa industry and the whole agricultural value chain in Nigeria by moving from producer to processor of cocoa on the global stage.

Shettima said the administration is also putting everything in place to promote sustainable cocoa farming and forest preservation.

The VP who stated this on Monday during an audience with a delegation from the World Cocoa Foundation (WCF) led by its President, Mr Chris Vincent, at the Presidential Villa noted that it is in a bid to return to the drawing board in respect of revamping the nation’s cocoa industry that the Federal Executive Council (FEC) recently approved the establishment of a National Cocoa Management Board (NCMB).

“Let’s walk the talk. We used to be one of the world’s leading cocoa producers, but because of the advent of oil, we have been relegated to the background now.

“But we can reclaim that lost glory, and the president is fully committed to revitalising not only the cocoa industry but all agricultural value chains.”

Senator Shettima pointed out that the price of cocoa has skyrocketed globally, assuring that “with the Renewed Hope Agenda of President Bola Ahmed Tinubu”, Nigeria is poised to go “back to the drawing board.

“At our last Federal Executive Council (FEC) meeting, the government approved the establishment of the National Cocoa Management Board geared towards revitalising the cocoa industry and the whole cocoa value chain,” he added.

The vice president stressed the need for Nigeria to start processing cocoa products, just as he told the WCF delegation that the nation has the manpower, with capable young Nigerians who are willing to take advantage of the job opportunities in the agricultural sector.

He said, “We don’t want to be producers of cocoa; we want to be processors of cocoa because a tonne of cocoa will fetch you $9,000 now, but processed cocoa will get you $30,000. If you turn them into chocolate bars, that might fetch you $50,000.

“So, we have the manpower; the average age of the nation is 17. We have very virile young men who are willing to work if they have the opportunity. So, I’m speaking from the heart; we are willing to partner with your organisation.”

VP Shettima also disclosed that he was already working on building a cocoa farm to lead by example, saying the passion is not driven by profit making but by the desire to contribute to the social welfare of the country.

“I want to walk the talk. It is not even about the profit criteria; no. It’s about the social welfare criteria – employing people. Look, let me take you to my farm and you’ll be convinced that the new Nigerian leadership is actively involved and is itching to drive the process.”

The vice president pledged Nigeria’s readiness to work with WCF, assuring that he would personally engage the governor of Taraba State to secure the 10,000 hectares in the Kurmi local government area of the state for the WCF and other partners to expand their investments in the nation’s cocoa industry.

Earlier, the Vice President of the WCF, Mr Vincent, declared the Foundation’s readiness to work with the Nigerian government to revitalise the cocoa sector in Nigeria in line with the European Union’s sustainable regulations.

He said, “We are in the middle of a global cocoa supply shortage, and the prices have risen four times over the last three years. We are looking for new supplies of cocoa, sustainable cocoa in particular,” he stated, noting that the WCF represents the whole global cocoa supply chain, which includes the very biggest manufacturers of both chocolate and cocoa.

“The key thing here is that we have a clear alignment with industries which need to grow in supply sustainably, and I’m aware of the Nigerian State’s ambition to grow cocoa as a crop, and I know the opportunity is now. Because we are in a supply deficit, the next two to three years are an opportunity for growth,” he added.

Cocoa: We Can Turn $9,000 Raw Materials Into $50,000 Finished Products — Shettima is first published on The Whistler Newspaper