By Oluremi Modupe, Eso Diekola, and Imoru Busayo
The Raw Materials Research and Development Council (RMRDC) has successfully hosted an Investors’ Forum on “Strategic Investment Opportunities in Cocoa Processing”, bringing together key stakeholders to advance value addition and industrial growth within Nigeria’s cocoa sector.
The forum, held on 15th of April, 2026, at the Federal Secretariat Complex in Akure, attracted a broad spectrum of participants, including representatives of the Ondo State Government, financial institutions, research organisations, agribusiness experts, and cocoa farmers’ associations.
In his welcome address, the Director General/CEO of RMRDC, Professor Nnanyelugo M. Ike-Muonso, represented by the Director of the State Industrial Extension Services Department, Dr. (Mrs.) Edith Obi, stressed the urgent need to reposition Nigeria’s cocoa industry. He noted that despite the country’s strong production capacity, over 90% of cocoa is exported in raw form, resulting in significant loss of potential revenue and employment opportunities. He reiterated the Federal Government’s directive on minimum value addition to exports as a strategic pathway to industrialisation, increased foreign exchange earnings, and sustainable economic development.
Chairman of the occasion and Ondo State Commissioner for Commerce and Industry, Pastor Adebola Ademuwagun, underscored the state’s leadership in cocoa production and its readiness to support investments in processing. He urged stakeholders to move beyond the export of raw beans and focus on developing high-value cocoa products such as butter, powder, chocolates, and other derivatives capable of boosting local industry and global competitiveness.
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Goodwill messages from institutions including the Bank of Industry, the Nigerian Export Promotion Council (NEPC), and the Cocoa Research Institute of Nigeria (CRIN) highlighted the vast untapped opportunities within the cocoa value chain. The Bank of Industry revealed that Ondo State contributes between 25% and 40% of Nigeria’s cocoa output, supporting over 200,000 households, and projected that strategic investments in processing could create more than 5,000 jobs within five years while significantly increasing export earnings.
Technical sessions provided deeper insights into investment prospects and sector dynamics. Experts identified key opportunities in cocoa processing and industrialisation, by-product utilisation, and brand development. They emphasised that processed cocoa products can command up to five times the value of raw beans, making a compelling case for local value addition. Additional discussions focused on the utilisation of cocoa by-products for food, cosmetics, animal feed, and industrial applications, further expanding the investment landscape.
The forum also addressed critical challenges affecting the sector, including high production and processing costs, inadequate infrastructure, limited access to affordable financing, supply chain inefficiencies, and price volatility in international markets. Stakeholders called for improved access to credit, enhanced farmer training, adoption of modern technologies, and stronger certification and traceability systems to enable Nigeria to access premium global markets.
Presentations on risk management highlighted the importance of insurance solutions in safeguarding investments across the cocoa value chain, covering climate, biological, operational, and market risks. Participants were encouraged to adopt integrated approaches combining finance, insurance, and technology to enhance resilience and attract investment.
In the interactive session, participants emphasised the need for locally fabricated equipment such as dryers and irrigation systems to support year-round production and reduce post-harvest losses. RMRDC reaffirmed its capacity to provide technical support, including equipment design and access to pilot processing facilities.
The forum concluded with a renewed commitment from RMRDC and its partners to foster collaboration among government, investors, and industry players. Stakeholders expressed confidence that the outcomes of the forum will catalyse concrete investments and partnerships, ultimately transforming Ondo State into a hub for cocoa processing and positioning Nigeria as a competitive player in the global cocoa value chain.
