FG To Create Cocoa Corporation of Nigeria

A new company, the Cocoa Corporation of Nigeria is in the works to revive the nation’s cocoa industry and diversify the economy beyond oil. During … Continue reading FG To Create Cocoa Corporation of Nigeria


A new company, the Cocoa Corporation of Nigeria is in the works to revive the nation’s cocoa industry and diversify the economy beyond oil.

During a meeting of the World Cocoa Foundation in Washington, Nigeria’s Minister of Agriculture and rural development, Dr.  Akinwunmi Adesina revealed that the new company, to be known as the Cocoa Corporation of Nigeria will double production of the cocoa beans to 500,000 metric tons in two years.

Part of the plan is to invest in processing to allow for 25 percent local consumption, while new warehouses will provide necessary storage.

Nigeria earned about $900 million from cocoa exports in 2012, while agriculture was responsible for about 44 percent of the country’s gross domestic product.