VP Shettima Pushes Cocoa Processing, $25bn Gas Pipeline in Nigeria’s Economic Drive
Nigeria is set for a major transformation in both agriculture and energy, as Vice President Senator Kashim Shettima announced the federal government’s strategic push to shift the country from raw cocoa production to full-scale processing, while also revealing plans to attract a \$25 billion investment for a massive undersea gas pipeline to Europe.
During a meeting with a delegation from the **World Cocoa Foundation (WCF)** at the Presidential Villa on Monday, VP Shettima declared that under the *Renewed Hope Agenda* of President Bola Ahmed Tinubu, Nigeria will no longer settle for being a raw material supplier. “We want to be processors of cocoa,” he said, citing the enormous economic gain in value-added cocoa exports.
“While raw cocoa earns about \$9,000 per tonne, processing could bring in \$30,000, and converting it to chocolate bars may fetch \$50,000,” Shettima explained, pledging Nigeria’s full commitment to revitalising the agricultural value chain. The establishment of a **National Cocoa Management Board (NCMB)** has already been approved by the Federal Executive Council to steer this transformation.
The VP also disclosed personal efforts to model leadership by investing in cocoa farming, affirming that the goal is not profit but national economic empowerment and job creation for Nigeria’s youthful population. “We have the manpower — the average age in Nigeria is 17,” he noted.
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WCF President, **Chris Vincent**, welcomed Nigeria’s renewed vision, emphasizing that global demand for sustainable cocoa is rising amid a supply deficit. “This is the right time for Nigeria to re-enter the global cocoa market competitively,” he said.
*Energy Shift: Nigeria Courts \$25bn for Gas Pipeline to Europe*
On the energy front, Shettima also hosted a high-level delegation from **Vitol Group**, the world’s largest independent commodity trader, to discuss Nigeria’s ambitious plan for the **Nigeria-Morocco Gas Pipeline**, which will supply natural gas from Nigeria to Europe through the West African coast.
Describing the gas sector as “a beacon of transparency and stability,” VP Shettima urged Vitol to join the project, noting that Nigeria holds the **eighth-largest gas reserves in the world**.
“This project is valued at around **\$25 billion**. What we need more than funding is your **technical expertise**,” Shettima told the Vitol team, asserting that Nigeria is transitioning from an oil-dependent economy to a **gas-powered future**.
Vitol’s Chief Financial Officer, **Jeffrey Dellapina**, reaffirmed the company’s long-term commitment to Nigeria, referencing its role in funding **Project Gazelle** and expressing readiness to deploy further capital and expertise.
“We want to evolve with Nigeria,” said Dellapina, as other executives echoed strong support for deepening partnerships in the nation’s energy space.
As Nigeria positions itself as a global agricultural processor and a gas export hub, these twin initiatives underscore the Tinubu administration’s sweeping economic reforms aimed at long-term industrialisation and energy security.
