FG unveils new cocoa strategy, rules out export ban

The Federal Government has denied reports that it plans to stop the export of raw cocoa beans.

The Minister of Agriculture and Food Security, Senator Abubakar Kyari, said the government has no intention of banning cocoa exports. Instead, it wants to encourage more local processing of cocoa into products such as cocoa butter, cocoa powder and chocolate.

In a statement released on Friday, Kyari said the government’s goal is to add more value to cocoa production and help Nigeria earn more money from the sector.

He explained that reports claiming the government plans to ban raw cocoa exports are false.

According to him, the government’s priority is to create an environment that attracts investment in cocoa processing, increases farmers’ incomes, creates jobs and boosts export earnings.

“Our objective is value addition, not an export ban,” the minister said.

Kyari added that the policy is part of President Bola Tinubu’s Renewed Hope Agenda, which seeks to build a stronger and more competitive cocoa industry in Nigeria.

He noted that raw cocoa exports will continue while the country gradually expands its local processing capacity.

The minister also said the government is working to improve product traceability and ensure compliance with international standards. This, he said, will help Nigerian cocoa maintain access to premium global markets and improve its competitiveness.

Nigeria’s agricultural exports recorded a decline in the first quarter of 2026, according to data from the National Bureau of Statistics, NBS.

Agricultural exports stood at N1.17 trillion during the period, down from N1.7 trillion recorded in the same period of 2025. The figure also fell from N1.32 trillion reported in the fourth quarter of 2025.

Despite the decline, cocoa products remained among Nigeria’s top agricultural exports. Natural cocoa butter generated N41.69 billion in export earnings, accounting for 3.56 per cent of total agricultural exports.

Raw cocoa beans continued to dominate the sector. Superior quality cocoa beans generated N596.9 billion in export earnings during the first quarter of 2026, representing about 51 per cent of Nigeria’s total agricultural exports.

When cocoa butter, standard quality cocoa beans and roasted cocoa beans are added, cocoa-related products contributed more than N643 billion to agricultural export earnings.

The Federal Government said its strategy is to encourage more local processing so that Nigeria can earn greater value from cocoa exports through finished and semi-finished products, while still maintaining its position in the global raw cocoa market.