By: Simeon Shodimu
Nigeria’s drive to move beyond the export of raw agricultural commodities is gaining renewed momentum as indigenous agribusiness firms deepen investments in local processing and value addition. The latest signal came with the announcement of a massive cocoa and cashew processing expansion by Sunbeth Global Concepts Limited, a development industry stakeholders describe as a major leap for Nigeria’s agro-industrial transformation agenda.
The Cocoa and Coffee Farmers Alliance Association of Africa (COCEFAAA) has applauded Sunbeth Global Concepts Limited for the ongoing construction of a 70,000-metric tonne cocoa processing factory and an 80,000-metric tonne cashew processing plant in Nigeria.
In a statement issued by the president of COCEFAAA, Adeola Adegoke, the association described the projects as one of the most significant agro-industrial investments undertaken in Nigeria in recent years.
According to Adegoke, the Managing Director of Sunbeth, Olasunkanmi Owoyemi, disclosed the projects during the Africa Cocoa Finance and Investment Forum held at the London Stock Exchange.
He noted that Sunbeth’s rise from a local trading outfit less than a decade ago into a leading cocoa exporter with operations spanning Nigeria, Ghana, and Cameroon reflects the growing capacity of African agribusinesses to compete on the global stage.
The company, which also maintains international offices in London, Dubai, and New York, is now transitioning from commodity exportation into integrated processing — a move stakeholders say could significantly boost local value retention within Nigeria’s cocoa economy.
Industry analysts believe the shift toward domestic processing is critical to reducing Africa’s long-standing dependence on exporting raw cocoa beans while importing finished chocolate and cocoa-based products at higher costs.
Adegoke said the new processing facilities would allow Sunbeth to supply semi-finished cocoa ingredients directly to global chocolate manufacturers while strengthening Nigeria’s position in the international cocoa market.
He stressed that the investment goes beyond production capacity, describing it as a strategic commitment to building a sustainable agricultural value chain anchored on infrastructure, supply chain integration, and long-term industrial growth.
“The dual investment is not merely about volume. It reflects a conviction that world-class ambition demands world-class infrastructure,” he stated.
He further noted that Sunbeth’s decision to integrate operations from cocoa sourcing to finished products represents the right model for building resilient agribusiness enterprises capable of withstanding global market volatility.
COCEFAAA also called on governments at all levels to provide stronger institutional support for agro-processing firms through stable agricultural policies, improved infrastructure, reliable electricity supply, and easier access to financing.
The association argued that without deliberate policy backing, large-scale investments in agricultural processing may struggle to achieve their full economic potential.
Beyond Sunbeth, COCEFAAA also recognised the contributions of other major players in Nigeria’s cocoa processing ecosystem, including Starlinks Global & Ideal Limited, Johnvents Group, and Olam Group for their expanding investments across the cocoa value chain.
The association particularly described Johnvents Industries Limited as a trailblazer in Nigeria’s cocoa processing industry, citing its role in advancing local industrial capacity and export competitiveness.
For many stakeholders, the emerging wave of investments signals a broader shift in Africa’s agricultural narrative — one that seeks to ensure the continent not only grows cocoa but also processes, packages, and captures greater value from its agricultural resources.
As global demand for processed cocoa products continues to rise, experts say Nigeria’s ability to scale domestic processing capacity could help create jobs, improve foreign exchange earnings, and strengthen rural economies tied to cocoa and cashew production.
Caption:
Ongoing investments in large-scale cocoa and cashew processing plants are expected to strengthen Nigeria’s agro-industrial capacity, boost value addition, and position the country more competitively in the global cocoa market.
