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Africa Produces 70% of World’s Cocoa but Processes Only 2%, Says ICD

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The International Cocoa Diplomacy (ICD) has urged African nations to strengthen collaboration aimed at improving cocoa production standards and increasing the value of cocoa exports.....KINDLY READ THE FULL STORY HERE▶

At a joint press briefing with the Lagos Chamber of Commerce and Industry (LCCI) ahead of the upcoming Lagos International Trade Fair, the Convener of ICD, HRM Queen Angelique-Monet Thompson, expressed concern that although Africa produces about 70 percent of the world’s cocoa, less than two percent is processed into finished products such as chocolate.

According to Nivo News, Queen Thompson explained that the ICD’s participation in the trade fair seeks to demonstrate how strategic partnerships and cross-border collaborations can drive innovation, enhance trade, and build a sustainable value-added economy.

She noted that ICD’s broader mission is to close the gap between Africa’s dominance in global cocoa supply and its limited involvement in chocolate manufacturing. This, she said, would be achieved through knowledge exchange, capacity building, and market development initiatives.

Highlighting the vast potential in the industry, she revealed that while the global chocolate market is currently valued at $140.12 billion and projected to grow to $172.89 billion by 2030, African countries still process less than two percent of their cocoa into finished chocolate products.

Queen Thompson pointed out that Nigeria stands to benefit immensely from the booming premium chocolate market, which is expanding at an annual rate of 7.2 percent, with 83 percent of consumers now preferring ethically sourced cocoa. This, she said, has created a growing demand for chocolate products made from African-origin cocoa.

She described the upcoming Eko Chocolate Show 2025 as Africa’s most prestigious chocolate industry event—one that merges culture, commerce, and innovation. The event, she noted, would serve as Nigeria’s gateway to global chocolate markets and provide sponsors with an exceptional opportunity to align their brands with African excellence and agricultural innovation.

The exhibition will feature an international chocolate showcase, a stakeholder forum, the Royal Cocoa International Film Festival, an arts exhibition, and the historic Royal Cocoa Symphony Orchestra Concert. These activities aim to create Africa’s first integrated chocolate-culture-commerce platform, positioning Lagos as the continent’s chocolate and trade hub.

Director of LCCI Trade Promotions, Shola Oluwadare, expressed excitement over the partnership with ICD, emphasizing that the 2025 edition of the Fair would spotlight Nigeria’s potential in cocoa production and enhance revenue for local farmers by improving value addition.

Also speaking, LCCI Trade Promotions Chairman, Abimbola Olasore, said the fair has evolved into not just a specialized event but a festival of economic transformation, underscoring LCCI’s commitment to collaborating with credible partners to drive national growth.


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Atiku To Tinubu: Seven Days To Clean Up The “Nest Of Fraudsters” Inside The Presidency.

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Former Vice President and 2023 presidential candidate, Atiku Abubakar, has issued a seven-day ultimatum to President Bola Tinubu, demanding an independent investigation into the scandal surrounding the Presidential Foreign Intervention Promotion Council (PFIPC). Speaking through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku argued that a transparent probe is necessary to clear suspicions of high-level government involvement in the alleged fraud.....KINDLY READ THE FULL STORY HERE▶

Atiku’s critique centers on the perceived lack of institutional credibility regarding the government’s current explanation of the scandal:

  • Implausible Narrative: Atiku criticized the Presidency’s account—provided by Bayo Onanuga—as illogical, questioning how one individual (Adeniyi Adeyemi) could unilaterally secure government office space, conduct high-level meetings with foreign delegations, and process official staff salaries without internal collaboration or negligence.

  • Systemic Failure: He emphasized that while Adeyemi should face legal consequences if guilty, the government must address how such an operation bypassed standard institutional oversight.

  • Budgetary and Civil Service Inconsistencies: Atiku highlighted that the PFIPC reportedly appeared in the 2026 Appropriation Act with a multi-billion naira budget, and that the Office of the Head of the Civil Service allegedly approved the recruitment of over 300 staff members, both of which are structured processes that cannot occur by accident.

The Demand for Accountability

Atiku argued that the Presidency cannot deflect blame onto a single individual while ignoring the structural systems that facilitated the alleged fraud. Given that Adeyemi has denied the allegations and claimed that influential figures are attempting to silence him, Atiku contends that an independent inquiry is urgently required. He concluded by warning that failure to launch a comprehensive investigation would lead to public perception of “complicity by silence” on the part of the President.

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Door Slammed Shut: Real Madrid Issues Categorical Denial Over Enzo Fernández Transfer.

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Real Madrid has officially and categorically dismissed recent media speculation suggesting they are pursuing Chelsea midfielder Enzo Fernández.....KINDLY READ THE FULL STORY HERE▶

The Official Stance

In an official statement released on Friday, the Spanish club clarified its position:

  • Real Madrid confirmed they have made no direct or indirect efforts to sign the 25-year-old Argentina international.

  • The club explicitly stated they have no intention of initiating a transfer for the player.

  • Maintaining their commitment to “institutional loyalty,” Madrid emphasized that their relationship with Chelsea remains excellent.

  • The club expressed regret that unfounded rumors continue to circulate, noting that such misinformation causes unnecessary confusion for fans and damages the involved parties.

Context and Background

The denial follows intense speculation that arose after Jose Mourinho returned as manager for Real Madrid:

  • Reports had claimed that Fernández was Mourinho’s primary midfield target and that the player considered Madrid his preferred destination.

  • Chelsea reportedly values the midfielder, who is under contract until 2032, at approximately £120 million.

  • Fernández previously faced consequences at Chelsea, including being dropped for two matches earlier this year, after publicly expressing his admiration for Real Madrid and his desire to live in the Spanish capital.

Fernández is currently participating in the 2026 FIFA World Cup with Argentina, where he is preparing for a Round of 32 match against Cape Verde. During the previous season, he recorded 15 goals and seven assists across 54 appearances for Chelsea.

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Judicial Hammer Falls: Rep Member Forced To Surrender ₦150 Million To Federal Government.

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On Thursday, June 2, 2026, Justice J.O. Abdulmalik of the Federal High Court in Abuja ordered the final forfeiture of ₦150 million to the Federal Government. The funds, linked to Nicholas Mutu, a serving member of the House of Representatives, were seized following an application by the Economic and Financial Crimes Commission (EFCC).....KINDLY READ THE FULL STORY HERE▶

The ruling was secured under Section 44(2) of the 1999 Constitution and Section 17 of the Advance Fee Fraud Related Offences Act. The court had previously issued an interim forfeiture order and mandated public notice in a national newspaper. As no party provided sufficient evidence to challenge the forfeiture during the interim period, Justice Abdulmalik granted the final order, rejecting arguments presented by counsel for Mutu and his company, Airworld Technologies Ltd.

The EFCC’s Findings

The EFCC’s investigation detailed how the funds were obtained:

  • Kickback Scheme: While serving as Chairman of the House Committee on the Niger Delta Development Commission (NDDC), Mutu allegedly received over ₦400 million in kickbacks from an NDDC consultant, Starline Consultancy Services.

  • Laundering: The money was reportedly funneled through Heritage Bank accounts belonging to two of Mutu’s companies, Airworld Technologies Ltd and Oyien Homes Ltd, which are owned and operated by the lawmaker and his immediate family.

  • The “Consultancy” Ruse: Investigators revealed that after the Committee helped the NDDC recover over ₦100 billion from oil firms, Mutu pressured the consultant to issue a fake subcontract to his company to justify the kickbacks. The consultant later admitted that no actual work was performed by Mutu’s firm.

Mutu’s Defense and Ongoing Legal Status

During the investigation, Mutu returned ₦150 million to the EFCC, though he later argued in court that the payment was involuntary and that the funds resulted from legitimate business dealings. The court ultimately dismissed these claims, ruling that the money constituted proceeds of unlawful activity.

This civil forfeiture follows a separate, ongoing legal battle; the EFCC is currently appealing a previous judgment by Justice F.O.G. Ogunbanjo, which had acquitted Mutu in a related criminal money laundering trial.

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