Farmers Urge Investment in Cocoa Processing in Nigeria

The Cocoa Coffee Farmers Alliance of Africa (COCEFAAA) has called for increased investment in cocoa processing across Nigeria and Africa, highlighting the sector's potential for economic growth, job creation, and foreign exchange earnings. In a statement signed by global president Adegoke, the organization noted that the global demand for processed cocoa products presents significant opportunities for African economies to move beyond raw bean exports and focus on value addition.

The demand for cocoa butter, cocoa liquor, cocoa cake, and cocoa powder is increasing steadily across Europe, North America, and Asia, including within Africa itself. COCEFAAA stressed that enhancing local processing capacity would help Nigeria retain foreign exchange and create employment opportunities.

The organization urged banks, investment firms, manufacturers, and private investors to channel resources into cocoa processing, describing the sector as a profitable agricultural investment opportunity. Additionally, COCEFAAA called on the government to support the sector by improving infrastructure, stabilizing power supply, and encouraging private sector involvement.