National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Engr. Jani Ibrahim, mni, OON, has commended President Bola Ahmed Tinubu, GCFR, for the policy direction to halt the export of raw cocoa beans in favour of local processing and value addition.
In a statement issued by the National Public Relations Officer of NACCIMA, Mrs Madinat Adigun-Oladotun, Engr. Ibrahim described the move as a timely and strategic intervention that aligns with NACCIMA’s long-standing advocacy for value addition, industrialization, and the development of competitive local industries capable of creating jobs, increasing export earnings, and strengthening Nigeria’s economy.
According to the National President, Nigeria can no longer afford to remain primarily an exporter of raw agricultural commodities while other countries reap the greater economic benefits of processing and manufacturing finished products.
He added that the policy has the potential to catalyse growth across the manufacturing and agro-processing sectors while strengthening linkages between farmers, processors, exporters, and other players in the cocoa value chain.
He, however, stressed that the success of the initiative would depend on the provision of an enabling business environment, including reliable power supply, improved transport infrastructure, affordable financing, policy consistency, and incentives that encourage private sector investment in cocoa processing and value addition.
Engr. Ibrahim said it was why NACCIMA, under his leadership, championed the Nigeria Infrastructure Conference (INFRACON), which held a few days ago, to mobilise private sector capital in addressing Nigeria’s infrastructure deficits.
The National President reaffirmed NACCIMA’s commitment to working closely with the Federal Government and relevant stakeholders to ensure the successful implementation of the policy and to unlock the full economic potential of Nigeria’s cocoa industry for sustainable national development.
