Nigeria’s Sunbeth Global Concepts has announced plans to establish a 70,000-ton cocoa processing plant, set to commence operations in March 2027. The development marks a major milestone in the country’s push to transition from exporting raw cocoa beans to producing finished chocolate products locally.

The announcement was made during a high-level gathering of global investors and industry stakeholders held at the London Stock Exchange, where Nigeria’s cocoa value-chain ambitions took centre stage. The project is being positioned as a landmark investment expected to strengthen industrial capacity, create jobs, and significantly boost value addition within Nigeria’s agricultural export sector.

Despite accounting for about 70% of global cocoa production, Africa as a whole produces less than 2% of the world’s finished chocolate and captures only around 10% of the total value chain. The new investment is therefore being viewed as part of a broader continental effort to retain more value within producing countries rather than exporting raw commodities.

According to Juliana Olayinka, Channels Television London Bureau Chief, the development underscores a “decisive shift in Nigeria’s ambition to move from exporting raw cocoa beans to manufacturing finished chocolate.”