The Federal Government has clarified that it has no plans to ban raw cocoa exports, emphasizing its commitment to promoting local value addition while maintaining Nigeria's position in the global cocoa market.

Minister of Agriculture and Food Security, Abubakar Kyari, stated that the government's priority under the Renewed Hope Agenda is to build a globally competitive cocoa industry by encouraging domestic processing while allowing raw cocoa exports to continue.

The clarification follows public discussions suggesting the government might ban raw cocoa exports after President Bola Tinubu's announcement to expand domestic processing.

The minister highlighted that raw cocoa exports will remain important as the country increases domestic processing capacity, aiming to attract investment, improve farmers' incomes, create jobs, and boost earnings from cocoa exports.The policy aligns with efforts to improve traceability in agricultural exports and ensure compliance with international standards.

President Tinubu emphasized the need for Nigeria to move beyond exporting raw beans and focus on processing cocoa locally to capture a greater share of the global chocolate market.

The government has also endorsed a roadmap to expand cocoa processing, with the Bank of Industry pledging financing for investments across the cocoa value chain.

Nigeria, a leading cocoa producer, exports most of its cocoa in raw form, missing out on value from processing and branding, which is captured outside the continent.