The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Engr. Jani Ibrahim, has commended President Bola Ahmed Tinubu’s decision to halt the export of raw cocoa beans in favour of local processing and value addition, describing the policy as a bold step towards industrialisation and economic transformation.
In a statement issued by NACCIMA’s National Public Relations Officer, Madinat Adigun-Oladotun, Ibrahim said the policy aligns with the association’s long-standing advocacy for value addition, industrialisation, and the development of competitive local industries capable of creating jobs, boosting export earnings, and strengthening the nation’s economy.
According to him, Nigeria can no longer afford to remain an exporter of raw agricultural commodities while other countries derive greater economic benefits from processing them into finished products.
He noted that prioritising local cocoa processing would transform Nigeria’s agricultural value chain by attracting investments in processing facilities, creating thousands of direct and indirect jobs, promoting technology transfer, and enhancing the competitiveness of Nigerian cocoa products in the global market.
The NACCIMA president added that the initiative would also stimulate growth in the manufacturing and agro-processing sectors while strengthening linkages among farmers, processors, exporters, and other stakeholders in the cocoa value chain.
However, Ibrahim stressed that the success of the policy would depend on the availability of an enabling business environment.
He identified reliable electricity supply, improved transport infrastructure, affordable financing, policy consistency, and incentives for private sector investment as critical to achieving the desired outcomes.
He said these were among the reasons NACCIMA convened the recent Nigeria Infrastructure Conference (INFRACON), aimed at mobilising private sector investment to address the country’s infrastructure challenges.
Ibrahim reaffirmed NACCIMA’s commitment to working with the Federal Government and other stakeholders to ensure the successful implementation of the policy and unlock the full economic potential of Nigeria’s cocoa industry for sustainable national development.
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