The International Finance Corporation (IFC), a member of the World Bank Group, and Johnvents Industries Limited have announced a partnership worth $23.3million (about N35 billion) to expand the company’s cocoa processing operations and increase its export capacity to global markets.
The partnership is also aimed at strengthening Nigeria’s agricultural sector and supporting the livelihood of thousands of farmers across the country.
Records at the Ministry of Agriculture and Food Security indicate that the country made N358 billion in cocoa export in 2023.
