Cocoa price surge offers opportunity amid economic shifts — Agripreneur

An agriculture entrepreneur, Olabode Fayemiro, has said that the price surge in Nigeria’s cocoa sector presents good investment opportunity in spite of shifts in global economy.

The agripreneur says Nigeria’s cocoa sector is enjoying price momentum, noting that global cocoa prices soared to an unprecedented US $12,000 per tonne in December 2024, nearly four times the presurge average while currently hovering above US $8,000 / tonne.

“That is a wakeup call. Whitecollar CEOs and rural farmers are pivoting to show that Nigerian agriculture can be more than just a fallback; it can be a primary pillar of national wealth,” Fayemiro said.

He recalled that government regulators recently set up a National Cocoa Management Board, with the vice president disclosing that government has a goal to move Nigeria from cocoa bean exporter to global processor, adding value and multiplying returns.

“A tonne of cocoa will fetch you US $9,000 now, but processed cocoa will get you US $30,000. Chocolate bars might fetch you US $50,000,” he quoted the vice president as saying.

Fayemiro, who is the chief executive officer of Mama Hannah’s Limited, revealed that amid the economic shift, his company is leading a complementary movement in agriculture, adding that the company, founded in November 2022, operates in Ondo State, cultivating rubber and oil palm with a larger mission.

“Mama Hannah’s champions diversification beyond oil. It sees agriculture as both a source of jobs and foreign exchange, bearing in mind that crops regularly outperform petroleum in GDP contribution.

Currently farming 40 hectares and targeting 100 hectares by end 2025, Mama Hannah’s integrates modern tools, from AI to farm analytics to boost yield, support smallholder farmers, and strengthen supply chains. This reflects a shift to agritech and sustainable growth that resonates with cocoa’s rise.

“The cocoa moment offers lessons—cash crops drive both local economies and export revenues. Nigeria’s bold plan projected yield of 500,000t in 2024–25, climbing to rival Ivory Coast and Ghana which fits neatly with Mama Hannah’s local leadership,” Fayemiro said.

According to him, as cocoa hits record highs and policy backs processing, Nigeria’s broader agricultural wave is becoming unstoppable, pointing out that companies like Mama Hannah’s Limited exemplify this new breed: locally rooted, tech-driven, and economically strategic.

“When rubber, oil palm and soon cocoa challenge oil’s long shadow, the nation stands to harvest not just crops, but sustainable prosperity,” he assured.