Connect with us

News

VP Shettima: We Will Move Nigeria From Cocoa Production To Processing

Published

2 months ago

on

VP Shettima: We Will Move Nigeria From Cocoa Production To Processing

** As Nigeria seeks $25bn investment for undersea gas pipeline to Europe

By: Our Reporter

The Vice President, Senator Kashim Shettima, has said the administration of President Bola Ahmed Tinubu is fully committed to reviving the cocoa industry and the whole agricultural value chain in Nigeria, with a target of moving the sector from mere producer to processor of cocoa on the global stage.

According to him, the administration is putting everything in place to ensure that Nigeria moves from mere producer of cocoa to a processor of cocoa by promoting sustainable cocoa farming and forest preservation.

Senator Shettima who stated this on Monday during an audience with a delegation from the World Cocoa Foundation (WCF) led by its President, Mr. Chris Vincent, at the Presidential Villa, noted that it is in a bid to return to the drawing board in respect of revamping the nation’s cocoa industry that the Federal Executive Council (FEC) recently approved the establishment of a National Cocoa Management Board (NCMB).

“Let’s walk the talk. We used to be one of the world’s leading cocoa producers, but because of the advent of oil, we have been relegated to the background now.

“But we can reclaim that lost glory, and the President is fully committed to revitalising not only the cocoa industry but all agricultural value chains.”

Senator Shettima pointed out that the price of cocoa has skyrocketed globally, assuring that “with the Renewed Hope Agenda of President Bola Ahmed Tinubu,” Nigeria is poised to go “back to the drawing board.

“At our last Federal Executive Council (FEC) meeting, the government approved the establishment of the National Cocoa Management Board geared towards revitalising the cocoa industry and the whole cocoa value chain,” he added.

The Vice President stressed the need for Nigeria to start processing cocoa products, just as he told the WCF delegation that the nation has the manpower, with capable young Nigerians who are willing to take advantage of the job opportunities in the agricultural sector.

He said, “We don’t want to be producers of cocoa; we want to be processors of cocoa because a tonne of cocoa will fetch you $9,000 now, but processed cocoa will get you $30,000. If you turn them into chocolate bars, that might fetch you $50,000.

“So, we have the manpower, the average age of the nation is 17. We have very virile young men who are willing to work if they have the opportunity. So, I’m speaking from the heart; we are willing to partner with your organisation.”

VP Shettima also disclosed that he was already working on building a cocoa farm to lead by example, saying the passion is not driven by profit making, but by the desire to contribute to the social welfare of the country.

“I want to walk the talk. It is not even about the profit criteria; no. It’s about the social welfare criteria – employing people. Look, let me take you to my farm and you’ll be convinced that the new Nigerian leadership is actively involved and is itching to drive the process.”

The Vice President pledged Nigeria’s readiness to work with WCF, assuring that he would personally engage the governor of Taraba State to secure the 10,000 hectares in Kurmi local government area of the state for the WCF and other partners to expand their investments in the nation’s cocoa industry.

Earlier, the Vice President of the WCF, Mr Vincent, declared the Foundation’s readiness to work with the Nigerian government to revitalise the cocoa sector in Nigeria in line with the European Union’s sustainable regulations.

He said, “We are in the middle of a global cocoa supply shortage, and the prices have risen four times over the last three years. We are looking for new supplies of cocoa, sustainable cocoa in particular,” he stated, noting that the WCF represents the whole global cocoa supply chain, which includes the very biggest manufacturers of both chocolate and cocoa.

“The key thing here is that we have a clear alignment with industries which need to grow in supply sustainably, and I’m aware of the Nigerian State’s ambition to grow cocoa as a crop, and I know the opportunity is now. Because we are in a supply deficit, the next two to three years are an opportunity for growth,” he added.

** Nigeria seeks $25bn investment for undersea gas pipeline to Europe

Meanwhile, Nigeria is actively pursuing a massive $25 billion undersea gas pipeline project to supply gas to Europe.

The project is the Nigeria-Morocco Gas Pipeline, aimed at transporting Nigerian gas to Morocco and onward to Europe through the West African coastline.

This is just as Vice President Shettima has said, President Bola Ahmed Tinubu’s bold economic reforms have positioned Nigeria as a prime investment destination, especially in the energy sector.

Speaking on Monday during a meeting with Vitol Group, the world’s largest independent commodity trader, at the Presidential Villa, the Vice President said Nigeria’s leadership transformation under President Tinubu represents an unprecedented opportunity for international investors.

He said, “Most importantly is the leadership. President Bola Ahmed Tinubu grew up in that ecosystem- energy and finance.

“In the past 25 years, we have not had a leader who has the courage to take far-reaching decisions as he has taken- the removal of fuel subsidy, the unification of the multiple exchange rates, and the tax reforms.”

The Vice President made a direct appeal to global investors, stating that “he (the President) is putting Nigeria on a new trajectory. This is where the action is, invest in Nigeria.”

VP Shettima described Nigeria’s gas sector as a beacon of stability and transparency amid global uncertainty.

He said, “I will urge you to key into our nation’s energy transition programme. I want you to utilise your dominance in the Liquefied Natural Gas (LNG) and Associated Petroleum Gas (APG) sub-sectors. The world is changing, and ours is actually a gas and not an oil economy. We have the eighth-largest gas reserve in the world. We really want to harness the potential in the gas sector fundamentally because of the stability and transparency in that arena.

“The Nigeria Liquefied Natural Gas Limited (NLNG) has been largely insulated from government interference. What we are getting from the NLNG is so predictable. This is why we are seriously exploring the option of taking our gas to Europe.
It is an expensive venture requiring about $25 billion, and of course, the technical expertise. We need you more for your technical expertise more than for your money. Gas supply stability counts, that is why we are exploring the option of an undersea gas pipeline.”

The Vice President urged Vitol to bring its considerable technical expertise and global influence to bear in advancing Nigeria’s gas infrastructure and exports.

“We urge you to use your influence, contacts and goodwill to mobilise resources for this project. It will be a completely transparent management structure. I will urge you to come on board with this project,” VP Shettima said.

Earlier, the leader of the delegation, Chief Financial Officer of Vitol Group, Jeffrey Dellapina, said that Vitol has a long-term commitment to Nigeria.

“This has been an incredibly close and important country for Vitol for a very long time. We have participated in a lot of things from the downstream, financing, trading and government support when needed.”

“We do want to maintain an understanding that Vitol is committed, and we are always available to deploy capital when needed. We want to say that Vitol is committed to this country, and we want to stay in this country and evolve with you.”

Also, Vitol Group’s Head of Public Affairs, Murtala Baloni, noted that the company is currently enjoying a favourable business relationship with Nigerian companies and the government.

“We support the business of the government in ways that we can in the deployment of capital. We were one of the major funders of Project Gazelle, a crude oil-backed forward-sale finance facility by the Nigerian National Petroleum Company Limited (NNPC Limited), where we put in $300 million during the COVID-19 period,” he stated.

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

VP Shettima: We Will Move Nigeria From Cocoa Production To Processing

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Nigeria Commiserates with Ghana Over Death of Two Cabinet Ministers, Top Government Officials in Helicopter Crash

Published

9 hours ago

on

August 7, 2025

By

Nigeria Commiserates with Ghana Over Death of Two Cabinet Ministers, Top Government Officials in Helicopter Crash

By: Michael Mike

The Federal Government has extended its deepest condolences to the Government and people of the Republic of Ghana, following the unfortunate tragic helicopter crash that claimed the lives of two Ghanaian Ministers, Dr. Edward Omane Boamah (Defence), Ibrahim Murtala Muhammed (Environment), along with other officials en route to Obuasi on Wednesday.

A statement by the spokesperson of Ministry of Foreign Affairs, Kimiebi Ebienfa read that: “This devastating incident has not only robbed Ghana of distinguished public servants but has also left a profound void in the West African region. Dr. Boamah and Hon. Muhammed were dedicated leaders who served their nation with unwavering commitment, and their contributions to regional security and environmental sustainability will be deeply missed.

“Nigeria stands in solidarity with Ghana during this period of immense grief. We share in the sorrow of our brothers and sisters in Ghana and offer our prayers for the peaceful repose of the departed souls.

“Our thoughts are also with the families of the deceased, as well as the entire Ghanaian government.

“As neighbours and partners in progress, we reaffirm our commitment to strengthening the bonds of friendship and cooperation between our two nations, even in moments of profound loss.

“May the Almighty grant Ghana the fortitude to bear this irreparable loss.”

Nigeria Commiserates with Ghana Over Death of Two Cabinet Ministers, Top Government Officials in Helicopter Crash

Continue Reading

News

FG Advises Nigerians on Getting Abroad to Profile Themselves at Foreign Missions to Allow for Early Intervention in Case of Mistreatment

Published

9 hours ago

on

August 7, 2025

By

FG Advises Nigerians on Getting Abroad to Profile Themselves at Foreign Missions to Allow for Early Intervention in Case of Mistreatment

By: Michael Mike

The Ministry of Foreign Affairs has advised Nigerians traveling abroad to make it a point of duty to register with the Nigerian mission in their host country in order to be accorded timely intervention in case of emergencies.

The Permanent Secretary of Ministry of Foreign Affairs, Ambassador Ahmed Dunoma made this appeal while receiving a delegation from the Diplomatic Correspondents Association of Nigeria, (DICAN), led by its Chairman, Frederick Idehai Frederick.

The Permanent Secretary while citing a recent incident where Nigerians were trapped in the Central African Republic, and some individuals, especially on social media, attempted to tarnish the Ministry’s image emphasised that the ministry, Nigeria embassies and consulates should be informed of their presence during arrival not when they run into trouble.

He said: “I advise Nigerians to make it a point of duty to make their presence known to the Nigerian mission in the country they’re visiting.

“This simple step can help prevent misunderstandings and ensure that Nigerians receive the support they need in times of crisis.

“There was a recent case of Nigerians trapped in Central African Republic, where some Nigerians tried to give the Ministry a bad name,” he said.

Dunoma while highlighting the importance of timely information dissemination, also called for a deeper collaboration between the Ministry and the Diplomatic Correspondents Association of Nigeria (DICAN) in order to combat disinformation and misinformation.

He said DICAN and the ministry share a common goal of promoting a positive image of Nigeria.

“Most of the time, given the necessary information before people will even ask for information is crucial in managing crises effectively.

“We are saddled with the role of laundering the image of the country. Hence, the inevitability of a strengthened partnership between DICAN and the Ministry.

“This partnership is crucial in ensuring that accurate information about Nigeria is disseminated to the public, both locally and internationally,” he said.

The Permanent Secretary expressed gratitude to DICAN for organizing the recent world class maiden Diplomatic, Security International Conference that brought about together about seventy diplomats, security, intelligence, academics, corporate organisations, civil societies among other stakeholders to brainstorm on how to make the world a safer and better place to live.

He stated that the conference has enriched discussions on security and the impact of the 4Ds Policy direction of the President Bola Ahmed Tinubu administration’s in enhancing Nigeria’s foreign image in the face of disinformation.

He said: “I thank DICAN for putting the programme together, it has enriched discuss on security and promote a positive image of Nigeria as well as ensure the safety and well-being of our citizens abroad.

“By working together, the Ministry of Foreign Affairs and DICAN can promote a more accurate understanding of Nigeria’s role in international affairs and address the challenges posed by disinformation and misinformation.

“We have a lot of challenges, but it is our duty to ensure that the positive narrative is given out there, because we have to be patriotic.

“I think we need to sit down, work together and see how we can also be proactive.”

Presenting an award of excellence to the Permanent Secretary, the Chairman of DICAN, Frederick Idehai , solicited more support to ensure that the association carries out its agenda setting programmes.

“The Permanent Secretary has shown commitment to working with DICAN, and we appreciate his efforts in promoting a positive image of Nigeria,” Idehai said.

FG Advises Nigerians on Getting Abroad to Profile Themselves at Foreign Missions to Allow for Early Intervention in Case of Mistreatment

Continue Reading

News

NDLEA, India’s NCB join efforts to end illicit shipments of tramadol, others to Nigeria

Published

9 hours ago

on

August 7, 2025

By

NDLEA, India’s NCB join efforts to end illicit shipments of tramadol, others to Nigeria

By: Michael Mike

The National Drug Law Enforcement Agency (NDLEA) and the Narcotics Control Bureau (NCB) of India have agreed to intensify their efforts in the fight against shipment of illicit drugs between the two countries especially the illegal flow of opioids such as tramadol and codeine-based syrup to Nigeria from the South Asian country.

This was part of agreements reached during a virtual meeting between the Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Buba Marwa (Rtd) and the Director General of NCB, Mr. Anurag Garg along with top officials of the two anti-narcotics agencies on Wednesday

In his remarks at the meeting, Marwa noted the threat posed to public health and security by illicit drugs in both Nigeria and India, while emphasizing the need to strengthen the existing partnership between NDLEA and NCB based on the Memorandum of Understanding (MoU) signed by the two agencies in 2023.

He said: “The main reason why I requested for this engagement is the illicit importation of tramadol and codeine cough syrup into Nigeria from India. This is a point that I raised the day we signed the MoU. Now, in the last 18 months, that’s from January 2024 to June this year, we have seized over one billion pills of opioids mainly tramadol and more than 14.4 million bottles of codeine syrup. This is why we need the support and collaboration of the Narcotics Control Bureau of India to work with us on this.”

The NDLEA boss also asked the NCB to assist NDLEA in specialized trainings, stating that: “The other point from me, is seeking your assistance on capacity building and training. We have had training in the past from India on drugs and investigation, training for analysts, financial investigation, cyber training, the dark web and so on. We will very much appreciate sharing from your experiences and knowledge and your support on training for our officers.”

In his response, the NCB boss Anurag Garg said it is essential for the two agencies to strengthen the existing partnership because the drug problem cuts across international borders, while he assured of their readiness to share knowledge, intelligence and experience with NDLEA on a number of areas of interest.

According to him, “we all know that there are transnational syndicates involved in the illicit drug shipments into Nigeria but we’re ready to work with you on this. Unless we come together, we cannot end this malady because we’re dealing with transnational drug syndicates, they have no respect for borders, national laws. So, the only method as of now is to collaborate, and it is a good opportunity, I mean, this meeting, we can take this initiative forward.

“On the issue of capacity building, we will be happy to offer you training. We have a training centre where we will be happy to host you for any training. I mean, as per your need, we can have a curated training programme through which we will be very happy to share whatever we know on the subject of clandestine labs or precursors or darknet monitoring or investigating darknet vendors and so on and so forth.”

NDLEA, India’s NCB join efforts to end illicit shipments of tramadol, others to Nigeria

Continue Reading

Trending

Verified by MonsterInsights