The Nigerian government has denied reports of an impending ban on raw cocoa exports, clarifying that its policy focus remains on encouraging value addition within the domestic processing sector.
The statement addresses market speculation that had begun to circulate regarding potential export restrictions on unprocessed agricultural commodities.
This development comes as Nigeria continues to navigate complex trade dynamics and domestic industrial policy goals.
The government's stance suggests a preference for incentives and regulatory guidance over outright prohibitions, aiming to balance the needs of smallholder farmers with the strategic objective of boosting local manufacturing capacity.
The clarification is likely to ease immediate concerns among exporters and traders who had feared a sudden disruption to established supply chains.
The move aligns with broader efforts to diversify the economy beyond crude oil, with agriculture and agro-processing identified as key growth sectors.