![The UK will support Nigeria in increasing cocoa production [World News]](https://foodcom.pl/wp-content/uploads/2023/09/Foodcom_World_News_Plant-Based-1520x760.jpg "The UK will support Nigeria in increasing cocoa production [World News]")
- Nigeria is one of the African countries with great potential for cocoa production.
- The funding of 40.5 million dollars will allow Johnvents to increase its processing capacity to 30,000 tonnes per year.
- This measure will improve the local economy, strengthen Nigeria’s competitiveness in the global cocoa market, secure cocoa supply chains to Europe and increase sustainable cocoa production.
Cocoa production in Nigeria
Nigeria, being one of the largest cocoa producers in the world (after Côte d’Ivoire and Ghana), has a large but still untapped potential for the processing and export of finished cocoa products. Cocoa is one of Nigeria’s main export products, and the company that stands out in the industry is Johnvents. This company processes and exports cocoa products such as butter, pulp and cocoa powder, which go to Europe, among others. Johnvents has received $40.5 million in funding from the British International Investment (BII) financial institution to increase its cocoa processing capacity to 30 000 tonnes per year.
What will the support for Nigerian cocoa production cover?
The funding will be used to purchase new machinery and expand and upgrade the Johnvents plant in Ondo State. It is expected to improve the local cocoa economy, create new jobs and achieve better prices for farmers. In addition, BII wants to support the company in certifying 90% of the cocoa produced under the Rainforest Alliance programme by 2027.
The investment aims not only to increase production capacity, but also to improve sustainability and traceability of cocoa products. With BII’s support, Johnvents will be able to increase its competitiveness in international markets, especially in Europe, where there is a high demand for certified cocoa products. At the same time, this is part of the global trend of strengthening supply chains and increasing the traceability of raw materials, which is crucial in light of the European Union’s regulations on sustainable trade and the prevention of deforestation.
We encourage you to read the interesting article: Types of cocoa – what are the varieties and ways of processing cocoa beans
