FG Approves Bill to Establish National Cocoa Management Board to Revive Industry

FG Approves Bill to Establish National Cocoa Management Board to Revive Industry

The Federal Executive Council, under the leadership of President Bola Ahmed Tinubu, has given its approval to a proposed bill that would create the National Cocoa Management Board (NCMB), a body intended to regulate and transform Nigeria’s cocoa industry.

This landmark move is part of the government’s plan to reposition cocoa as a key economic driver, improve the livelihoods of cocoa farmers, and enhance Nigeria’s standing in the global cocoa market.

Once passed by the National Assembly, the NCMB will be tasked with revitalizing the nation’s cocoa sector by overseeing plantation restoration, enforcing market regulations, and facilitating access to low-interest credit for farmers.