Tinubu Declares End to Raw Cocoa Exports, Unveils Ambitious Local Processing Plan
Business/Economy
In a bold push to industrialize Nigeria’s agricultural sector and retain more value domestically, President Bola Ahmed Tinubu has declared that the country will no longer export raw cocoa beans while continuing to import finished chocolate products.
The announcement signals a major shift toward local processing, value addition, and the creation of Nigerian chocolate brands for global markets.
Speaking through the Minister of Agriculture and Food Security, Senator Abubakar Kyari, at the Africa Cocoa Summit 2026 in Abuja, President Tinubu emphasized that Africa which produces about 70% of the world’s cocoa captures only a tiny fraction of the over $130 billion (and potentially up to $165 billion) global chocolate industry because processing, manufacturing, and branding occur overseas.
“Nigeria will no longer export raw beans while importing finished value. We will ground our beans at home, we will press our butter at home, we will make our chocolate at home, brand it at home and sell it to the world on our own terms,” the President stated.
The summit, themed “From Bean to Brand: The Bean in My Hand, The Brand in Our Future,” convened ministers, governors, investors, development partners, and representatives from major cocoa-producing nations.
It culminated in the adoption of the Cocoa Value Addition Accord and the proposed Abuja Declaration, establishing a Cocoa Alliance involving Nigeria, Ghana, Côte d’Ivoire, and Cameroon. These four countries together control around 75% of global cocoa production.
Nigeria produces over 300,000 tonnes of cocoa annually from more than 300,000 farming families across over 1.4 million hectares, contributing significantly to non-oil exports (at times nearly a quarter when prices soared above $10,000 per tonne).
However, most output is exported as raw beans, with limited domestic grinding capacity recently reported around 50,000–120,000 tonnes, though expanding.
The government highlights the stark value gap: raw beans fetch far less than processed products like cocoa butter, powder, liquor, or finished chocolate. A new 70,000-tonne processing facility under construction in Sagamu is cited as evidence of momentum.
The administration is backing the initiative through:
• The Nigerian Industrial Policy aimed at boosting manufacturing and achieving a $1 trillion economy.
• Financing from the Bank of Industry (BOI), which disbursed over ₦164 billion in 2025 to agro-processing businesses and has secured a €60 million credit facility from the European Investment Bank for cocoa projects.
• Incentives for processing, packaging, and chocolate manufacturing, plus plans for a Cocoa Value Addition Park with shared infrastructure.
Minister of State for Industry, Senator John Owan Enoh, described the move as personal, recalling his roots in Cross River State cocoa farms, and stressed shifting from exporting “anonymous sacks” to branded value-added goods.
BOI Managing Director Dr. Olasupo Olusi called it the building of an “industrial ecosystem,” supporting everything from farmer cooperatives and nurseries to full-scale factories.
Leaders from Ghana and others urged a united African front to dismantle colonial-era trade structures, improve farmer incomes, ensure traceability, and negotiate better global terms. The alliance aims to expand partnerships rather than disrupt them.
Nigeria was once the world’s second-largest cocoa producer but slipped due to the oil boom and policy gaps. Officials say reversing raw export dependence is key to job creation, foreign exchange earnings, and broader industrialization under the Renewed Hope Agenda.
The declaration aligns with similar moves, such as extensions of bans on raw shea nut exports to promote local processing.
Implementation details, including timelines for any formal export restrictions on raw beans, are expected to follow as investments scale up.
This initiative positions Nigeria not just as a commodity supplier but as a competitive player in the high-value chocolate and cocoa derivatives market.
