The Federal Government is targeting the production of cocoa to 750,000 metric tonnes valued at $8.25 billion by the year 2032.

It was learnt that the drop in Ghana and Ivory Coast cocoa production had drawn over 10,000 farmers in Nigeria to the farm.

Also, in a move to boost Nigeria’s cocoa industry, government has resolved to send a bill to the National Assembly seeking the establishment of a National Cocoa Management Board.

The Minister of Agriculture and Food Security, Abubakar Kyari, explained that the proposed board would be tasked with overseeing and coordinating cocoa production, processing, and marketing across the country.

The minister underscored the critical role cocoa played in the Nigerian economy, saying that cocoa was the highest non-oil revenue contributor to the Nigerian Gross Domestic Product (GDP).

He added: “However, we are still lagging behind in terms of our competitors next door, that is, between Cote d’Ivoire and Ghana.” tressed that ahead of the development, Nigeria had held consultations with neighboring cocoa producing countries to learn from their experiences.

“Delegations met with counterparts from Ghana and Côte d’Ivoire, both of which have already established national cocoa boards that effectively manage their cocoa sectors.

The meetings aimed to explore ways of harmonising efforts and enhancing collaboration across the region. According to him, the proposed board will feature a broad representation from various stakeholders.

In 2024, the Federal Executive Council (FEC) approved an action plan to achieve sustainable growth in the cocoa sector with a projected investment of over $300 billion into the sector over ten years.

Recall that data from the National Bureau of Statistics (NBS) explained that the country exported N1.54 trillion in 2024 from N171 billion in the corresponding period of 2023.

On a quarter-on-quarter basis, the country’s cocoa export rose 92 per cent from N624.71 billion in Q3 of 2024.

Also, the NBS noted earnings rose by 73 per cent on a quarter-on-quarter basis from N890.72 billion in Q3 of 2024, while superior quality cocoa beans worth N477.95 billion and N108.09 billion were shipped to the Netherlands and Malaysia, respectively.

Also, standard quality cocoa beans worth N110.84 billion and N48.96 billion were exported to the Netherlands and Belgium respectively. Meanwhile the Federal Government has inaugurated a Technical Implementation Committee for the 10-year National Cocoa Plan in Abuja.

According to the Minister of Trade and Investment, Dr Jumoke Oduwole, the plan aligns with the Renewed Hope Agenda, which seeks to reduce unemployment and achieve the broader vision of a $1 trillion economy by 2030.

The minister, represented by the Permanent Secretary of the Ministry, Ambassador Nura Abba Rimi, noted that Nigeria was the world’s leading cocoa producer in the 1970s but expressed worry about low productivity due to insufficient investment in the value chain, poor infrastructure, and a lack of coherent policy direction.

He urged the committee to ensure the diligent implementation of the National Cocoa Plan. She said: “As members of the technical committee, consider yourselves fortunate to have been chosen for this assignment. You need to justify the confidence placed in you by working as a team to promote industrialisation in Nigeria.”