L-R: Managing Director, Bank of Industry, Dr. Olasupo Olusi; Minister of State for Trade and Investment, Senator John Enoh; Minister of Agriculture and Food Security, Senator Abubakar Kyari; and Chief Executive of the Ghana Cocoa Board (COCOBOD), Dr. Ransford Anertey Abbey, during the 2026 Cocoa Value Addition Summit in Abuja on July 14, 2026.
By Peace Udugba
The Federal Government has reaffirmed its commitment to transforming Nigeria’s cocoa industry through value addition, industrialisation and stronger regional collaboration as stakeholders gathered for the 2026 Cocoa Value Addition Summit in Abuja.
The summit, held on Tuesday, July 14, 2026, brought together government officials, industry leaders, development partners and cocoa producers from across West Africa to discuss strategies for boosting local processing, increasing export earnings and creating jobs along the cocoa value chain.
Among the dignitaries at the event were the Minister of Agriculture and Food Security, Senator Abubakar Kyari, Minister of State for Trade and Investment, Senator John Enoh, Managing Director of the Bank of Industry (BoI), Dr. Olasupo Olusi, and Chief Executive of the Ghana Cocoa Board (COCOBOD), Dr. Ransford Anertey Abbey.
Speaking at the summit, Senator Kyari stressed that Nigeria must move beyond exporting raw cocoa beans and focus on developing industries that process cocoa into finished and semi-finished products.
He said value addition would not only increase farmers’ incomes but also generate employment, strengthen food security and improve the country’s foreign exchange earnings.
According to him, the Federal Government is implementing policies aimed at supporting cocoa farmers, improving productivity and encouraging private sector investment in processing facilities.
Also speaking, Senator John Enoh said the Ministry of Trade and Investment is committed to creating an enabling environment for investors in agro-processing and manufacturing.
He noted that cocoa remains one of Nigeria’s most valuable agricultural commodities and has enormous potential to drive economic diversification if more attention is given to local processing and export of finished products.
Enoh called for stronger collaboration between government agencies, financial institutions and private investors to unlock the full potential of the cocoa value chain.
The Managing Director of the Bank of Industry, Dr. Olasupo Olusi, reiterated the bank’s readiness to provide financial support for cocoa processing and value-addition projects across the country.
He said access to affordable financing remains critical to expanding local industries capable of producing chocolate, cocoa butter, cocoa powder and other high-value products for domestic and international markets.
Olusi added that the Bank of Industry would continue partnering with stakeholders to promote industrial growth and improve Nigeria’s competitiveness in the global cocoa market.
In his remarks, the Chief Executive of Ghana’s Cocoa Board, Dr. Ransford Anertey Abbey, advocated closer cooperation between cocoa-producing countries in Africa.
He said regional partnerships would help improve sustainability, enhance processing capacity and enable African countries to retain more value from cocoa production instead of exporting raw beans.
Abbey noted that Nigeria and Ghana, as two of Africa’s leading cocoa producers, have significant opportunities to collaborate on research, technology transfer, market development and policy coordination.
Participants at the summit identified inadequate processing infrastructure, limited access to finance, fluctuating global prices and climate change as some of the major challenges facing the cocoa sector.
They, however, expressed optimism that coordinated policies, increased investment and regional collaboration would position Africa as a major hub for cocoa processing and manufacturing.
The summit concluded with renewed calls for governments, development partners and the private sector to work together to build a competitive cocoa industry capable of driving economic growth, creating jobs and increasing value addition across the continent.
