Tinubu Declares End to Raw Cocoa Export Era at Africa Cocoa Summit

Tinubu Declares End to Raw Cocoa Export Era at Africa Cocoa Summit
Unveils New Drive to Boost Cocoa Processing and Local Manufacturing
Nigeria, Ghana, Côte d’Ivoire, Cameroon Unite on Cocoa Value Addition

President Bola Ahmed Tinubu has declared that Nigeria will no longer continue exporting raw cocoa beans while importing finished chocolate products, insisting that value addition must become the foundation of the country’s industrial growth strategy.

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Eko Hot Blog reports that the President made the declaration on Tuesday at the opening of the 2026 Cocoa Value Addition Summit in Abuja, themed “From Bean to Brand.”

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Represented by the Minister of Agriculture and Food Security, Senator Abubakar Kyari, Tinubu said Africa’s cocoa-producing nations must begin processing more of their produce locally if they are to benefit fairly from the global chocolate industry.

The summit also witnessed the signing of the Abuja Declaration, which established the Cocoa Value Addition Alliance involving Nigeria, Ghana, Côte d’Ivoire and Cameroon. Together, the four countries account for nearly three-quarters of global cocoa production and pledged to strengthen cooperation on cocoa trade, sustainability and value addition.

In addition, the Federal Government, cocoa-producing states, farmers, processors and financial institutions signed Nigeria’s National Cocoa Value Addition Accord to accelerate investments in local processing and manufacturing.

Tinubu noted that although Africa produces about 70 per cent of the world’s cocoa, the continent earns only a small fraction of the more than $130 billion global chocolate market.

He described the imbalance as unacceptable, stressing that Nigeria must move beyond exporting raw agricultural commodities to producing finished products that create jobs, wealth and industrial growth.

According to him, more than 300,000 farming families cultivate cocoa across over 1.4 million hectares in Nigeria, accounting for between six and seven per cent of global production.

I Am An Apostle Of A Free Press - Tinubu — President Bola Ahmed Tinubu

He said soaring international cocoa prices, which exceeded $10,000 per tonne at one point, generated more than ₦3 trillion in export earnings and contributed almost 25 per cent of Nigeria’s non-oil exports.

However, the President lamented that most of the revenue still came from exporting unprocessed cocoa beans.

“We export the bean at one price and import it back as a chocolate bar at 20 times that price. That is not trade. That is tribute, and the era of tribute is over,” he said.

Tinubu disclosed that under the Renewed Hope Agenda, value addition now forms a key pillar of Nigeria’s industrial policy.

He highlighted ongoing investments, including a 70,000-tonne cocoa processing facility in Sagamu, adding that Nigeria’s total cocoa grinding capacity has now surpassed 120,000 tonnes annually.

The President also announced the rollout of one million improved cocoa seedlings by the Cocoa Research Institute of Nigeria (CRIN) to boost productivity and ensure sustainable supplies for domestic processors.

He added that the Bank of Industry (BoI) would provide financing for viable cocoa processing projects expected to emerge from the summit.

Tinubu urged Ghana, Côte d’Ivoire and Cameroon to deepen collaboration with Nigeria, saying coordinated action among the four countries would strengthen Africa’s influence in the global cocoa market.

Earlier, the Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, described Africa’s biggest challenge as retaining value from its cocoa production rather than increasing output.

He said the summit would drive reforms through a cocoa value addition accord, dedicated financing windows, a national traceability system and stronger regional cooperation.

Enoh also warned that Africa must actively participate in shaping international regulations affecting cocoa exports, including the European Union’s Deforestation Regulation.

According to him, the continent can no longer accept global standards developed without the involvement of African producers.

He announced that a Delivery Council, which he will chair, will monitor implementation of the Cocoa Value Addition Accord annually.

The minister also pledged that at least 40 per cent of opportunities created under the new framework would be reserved for women and young people.

Managing Director and Chief Executive Officer of the Bank of Industry, Dr Olasupo Olusi, said financing would play a decisive role in transforming cocoa into a major industrial value chain.

He revealed that the bank had disbursed more than ₦164 billion to over 3,500 agro-processing businesses in 2025 and secured a €60 million European Investment Bank facility to support cocoa sector development.

Olusi said the BoI would provide long-term financing for cocoa processing plants, packaging facilities, laboratories and traceability infrastructure while mobilising additional private investment into the industry.

He also announced plans to establish Cocoa Value Addition Parks equipped with modern processing facilities, quality laboratories, stable electricity supply and digital traceability systems to support both large and small processors.

Meanwhile, Chief Executive of the Ghana Cocoa Board (COCOBOD), Dr Ransford Abbey, called for stronger cooperation among Africa’s leading cocoa-producing nations.

He noted that although Ghana, Côte d’Ivoire, Nigeria and Cameroon produce about 75 per cent of the world’s cocoa, they receive less than 10 per cent of the wealth generated by the global chocolate industry.

Abbey urged Nigeria and Cameroon to join the existing Côte d’Ivoire-Ghana cocoa initiative, saying a united four-country alliance would strengthen Africa’s bargaining power and deliver better returns for cocoa farmers.

He stressed that Africa must move beyond exporting raw cocoa beans to processing, branding and consuming more cocoa products locally, insisting that the continent deserves equity rather than charity in the global cocoa value chain.