Tinubu’s Cabinet Approves Game-Changer Bill to Revive Nigeria’s Cocoa Industry

By Achimi Muktar

In a bold move to reclaim Nigeria’s lost glory in the global cocoa industry, the Federal Executive Council (FEC), led by President Bola Ahmed Tinubu, has approved a draft bill to establish the National Cocoa Management Board (NCMB) — a game-changing agency designed to revive the country’s cocoa sub-sector and empower farmers across the nation.

Announced through the official X handle of Sunday Dare, Special Adviser to the President on Media and Public Communications, the approval signals a historic shift in Nigeria’s agricultural priorities — one that could see the nation rise to rival cocoa giants Ghana and Côte d’Ivoire.

Once enacted, the NCMB will be tasked with regulating the cocoa value chain, from production to export. The board will be empowered to provide soft loans to farmers, rehabilitate aging plantations, enforce quality control, and implement market rules that protect farmers and promote fair trade.

But the vision goes beyond just farming. The bill outlines a strategy for a “sustainable cocoa economy” that fuels industrialization, encourages youth participation, boosts domestic consumption, and attracts foreign exchange through premium-quality exports.

With Nigeria generating over N356 billion from cocoa and its allied products in 2023 alone, stakeholders say the potential for exponential growth is massive — if the right structures are in place.

“This isn’t just about farming. It’s about transforming cocoa into a key GDP driver,” an agriculture ministry insider said. “With this board, we’re talking farm-to-factory development, global market access, and prosperity for rural communities.”

The NCMB’s mandate is ambitious: it will tackle long-standing issues such as pests and diseases, outdated infrastructure, aging farmer demographics, limited processing capacity, financing gaps, and even environmental concerns like deforestation and child labor.

The move comes after years of stakeholder pressure to transform the National Cocoa Management Committee (NCMC) — established in 2022 — into a fully funded, legally backed institution capable of coordinating the entire cocoa ecosystem.

Now, with the FEC’s green light, the draft bill will be transmitted to the National Assembly for legislative action — and if passed, Nigeria could be on the brink of a cocoa revolution.