Vice President Kashim Shettima has reaffirmed the Tinubu administration’s commitment to reviving Nigeria’s cocoa industry and broader agricultural value chain, with a strategic shift from cocoa production to processing.

Speaking at the Presidential Villa in Abuja on Monday during a meeting with a delegation from the World Cocoa Foundation (WCF) led by its President, Mr. Chris Vincent, Senator Shettima emphasised the government’s drive to promote sustainable cocoa farming, enhance forest preservation, and add value to Nigeria’s cocoa exports.

“We used to be one of the world’s leading cocoa producers, but the advent of oil relegated us to the background,” the Vice President said. “We can reclaim that lost glory. President Tinubu is fully committed to revitalising not only the cocoa industry but the entire agricultural value chain.”

He revealed that as part of this renewed effort, the Federal Executive Council (FEC) recently approved the establishment of a National Cocoa Management Board (NCMB) to spearhead the transformation.

Shettima highlighted the soaring global price of cocoa and stressed the importance of value addition. “A tonne of raw cocoa might earn you $9,000, but when processed, it can bring in $30,000, and up to $50,000 if turned into chocolate bars,” he noted.

With Nigeria’s youthful population, the average age being 17, the Vice President said the country has a ready and capable workforce to drive this transformation. “We don’t want to just be producers; we want to be processors. We have the manpower, and young Nigerians are eager to work.”

Shettima also disclosed his personal involvement in cocoa farming to lead by example. “For me, it’s not about profit but about social welfare, creating jobs and contributing to national development. I’m walking the talk.”

He pledged Nigeria’s full cooperation with the WCF and said he would personally engage the Taraba State Governor to secure 10,000 hectares of land in Kurmi Local Government Area for cocoa expansion initiatives by WCF and its partners.

In response, WCF President Mr. Chris Vincent expressed the Foundation’s readiness to collaborate with the Nigerian government, especially under the European Union’s sustainable cocoa regulations.

“We’re in the middle of a global cocoa supply shortage, and prices have quadrupled in the last three years. We’re looking for new, sustainable sources of cocoa, and Nigeria is well-positioned for growth,” Vincent said.

Meanwhile, Vice President Shettima has said Nigeria is actively pursuing a $25 billion undersea gas pipeline project aimed at supplying natural gas to Europe, positioning the country as a leading player in global energy markets.

During a meeting with executives of Vitol Group, the world’s largest independent commodity trader, at the Presidential Villa on Monday, Shettima described Nigeria’s energy sector as a prime investment destination under the Tinubu administration.

“President Tinubu brings a unique blend of energy sector knowledge and financial acumen. In 25 years, we’ve not had a leader with the courage to take such bold, far-reaching decisions,” he said, citing the removal of the fuel subsidy, exchange rate unification, and comprehensive tax reforms.

The Vice President described Nigeria as a “gas economy,” noting that it holds the eighth-largest gas reserves in the world. “Our gas sector offers stability and transparency. NLNG, for example, has been largely shielded from political interference, providing predictable returns,” he said.

He urged Vitol to deepen its engagement with Nigeria, leveraging its global reach and technical expertise to advance infrastructure and export capacity.

In response, Vitol’s Chief Financial Officer, Jeffrey Dellapina, reaffirmed the company’s long-standing commitment to Nigeria. “This country is incredibly important to us. From downstream operations to financing and trading, we’ve maintained close ties and will continue to invest,” he said.

Vitol’s Head of Public Affairs, Murtala Baloni, also cited the company’s support for Project Gazelle, a crude oil-backed forward-sale finance facility by NNPC Limited, to which Vitol contributed $300 million during the COVID-19 pandemic.

Also present at the meeting was Nigeria Country Manager for Vitol, Thomas de Montulé.