National Cocoa Management Board: Nigeria Sets Sights on Global Cocoa Market Leadership
Abuja, May 6, 2025 – Nigeria is poised to elevate its cocoa industry with the establishment of the National Cocoa Management Board (NCMB), following approval by the Federal Executive Council (FEC) under President Bola Tinubu. The NCMB will regulate the cocoa sector, aiming to bolster economic growth, enhance Nigeria’s standing in the global cocoa market, and improve the livelihoods of cocoa farmers nationwide.The National Cocoa Management Board is a strategic initiative designed to create a sustainable cocoa economy that positions the sector as a top contributor to Nigeria’s GDP. In 2023, Nigeria produced cocoa beans and related products valued at N356.16 billion, underscoring the industry’s potential. The NCMB will focus on revitalizing production and fostering industrial growth, encouraging strong domestic consumption while boosting foreign exchange earnings through high-quality exports.A core objective of the National Cocoa Management Board is to empower cocoa farmers. The board will provide low-interest loans, enabling farmers to adopt modern techniques and improve yields. This support aims to ensure prosperity at the farm level, making cocoa farming more sustainable and appealing, especially for rural communities. The initiative also seeks to engage more youth in the sector, addressing unemployment and securing the industry’s future.The NCMB will oversee the restoration and enhancement of cocoa plantations, ensuring they meet global standards. It will also regulate the market and enforce compliance, ensuring consistent quality in cocoa production. Nigeria plans to join West African cocoa giants Ghana and Côte d’Ivoire in capturing a larger share of the international cocoa market, a move that could significantly elevate its global presence.President Tinubu’s administration has prioritized domestic consumption as part of this strategy. The National Cocoa Management Board will encourage local industries to utilize Nigerian cocoa, reducing reliance on imports and fostering a self-sustaining cocoa economy. This dual focus on domestic and export markets is expected to create a robust economic ecosystem, driving growth across the agricultural sector.The NCMB bill is slated for submission to the National Assembly (NASS) for legislative approval in the coming weeks. Once enacted, the board will roll out farmer support programs and market regulations. Industry experts have praised the initiative as a transformative step for Nigeria’s agricultural sector, with potential to inspire similar efforts across Africa.Cocoa farming is a vital part of Nigeria’s agricultural landscape, particularly in states like Ondo, Cross River, and Osun. However, challenges such as outdated practices, limited access to finance, and inconsistent quality have hampered growth. The National Cocoa Management Board aims to tackle these issues, providing a structured framework to support farmers and ensure long-term sustainability.With global demand for cocoa on the rise, driven by the popularity of chocolate and cocoa-based products, Nigeria’s push through the NCMB is timely. By enhancing production standards and supporting farmers, the board could help Nigeria secure a larger share of this lucrative market, bringing substantial economic benefits. The National Cocoa Management Board represents a bold step toward positioning Nigeria as a global agricultural leader, with the cocoa industry at the forefront of this transformation.