Cocoa Export Ban: NACCIMA Commends Tinubu’s Policy Shift Toward Local Processing
The President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Engr. Jani Ibrahim, has lauded President Bola Ahmed Tinubu, GCFR, for his policy initiative to halt the export of raw cocoa beans in favour of local processing and value addition.
In a statement issued by Mrs. Madinat Adigun-Oladotun, the National Public Relations Officer of NACCIMA, Engr. Ibrahim described the move as a timely and strategic intervention that aligns with NACCIMA’s long-standing advocacy for value addition, industrialization, and the development of competitive local industries capable of creating jobs, increasing export earnings, and strengthening Nigeria’s economy.
According to the National President, Nigeria can no longer afford to remain primarily an exporter of raw agricultural commodities while other nations benefit more from processing and manufacturing finished products.
*”The decision to prioritise local cocoa processing represents a significant step towards transforming Nigeria’s agricultural value chain. Beyond increasing foreign exchange earnings, it will stimulate investments in processing facilities, create thousands of direct and indirect jobs, encourage technology transfer, and enhance the global competitiveness of Nigerian cocoa products,”* Engr. Ibrahim stated.
He further explained that the policy has the potential to drive growth across Nigeria’s manufacturing and agro-processing sectors, while strengthening the connections between farmers, processors, exporters, and other stakeholders in the cocoa value chain.
However, he emphasized that the success of this initiative depends on creating an enabling business environment—reliable power supply, improved transportation infrastructure, affordable financing, policy consistency, and incentives to encourage private sector investment in cocoa processing and value addition.
Engr. Ibrahim highlighted that NACCIMA, under his leadership, championed the Nigeria Infrastructure Conference (INFRACON), held recently, to mobilize private sector capital to address Nigeria’s infrastructure deficits.
The NACCIMA President reaffirmed the association’s commitment to working closely with the Federal Government and relevant stakeholders to ensure the successful implementation of the policy and to unlock the full potential of Nigeria’s cocoa industry for sustainable national development.