Abdulwahab Isa 
Nigeria’s efforts to reclaim its prime position in global cocoa production received a major boost on Tuesday as British International Investment (BII), the UK’s development finance institution, announced a $40.5 million investment in Johnvents Group.
The funding aims to help the company achieve 100% traceable and 90% certified cocoa production by 2027.
The financing, finalized in Abuja, will enhance operations at Johnvents’ cocoa processing facility in Ile-Oluji, Ondo State, increasing its annual processing capacity from 13,000 to 30,000 metric tonnes.
The support also ensures that Johnvents sources the majority of its raw cocoa beans from local Rainforest Alliance-certified farmers.
Speaking at the signing event, British Deputy High Commissioner in Lagos, Jonny Baxter, described the partnership as a unique collaboration that will create jobs and foster economic growth.
“Our commitment to working with the Nigerian government on its economic reform agenda spans multiple sectors, including agriculture and exports,” Baxter stated.
He continued, “We are eager to maximize the impact of such partnerships to ensure inclusive growth. Transformative changes in agriculture require both government and private sector collaboration.
That’s why BII is providing a $40.5 million term loan facility to Johnvents to support the expansion of its cocoa processing facility in Ondo State.”
Baxter highlighted that the transaction aligns with the UK’s Climate-Smart Rural Agriculture Program (PropCom+), which promotes sustainable cocoa production in Nigeria.
“This initiative works alongside different levels of government, businesses, and local communities to attract private capital into sustainable forest commodities and ensure deforestation-free cocoa in southern Nigeria,” he added.
BII’s Managing Director and Head of Africa, Chris Chijiutomi, emphasized that the cocoa sector is a key priority for Nigeria’s current administration.
“As one of our priority markets, we have strong ambitions for investments in Nigeria.
“This particular investment aligns with our strategy supporting strong businesses with experienced management teams that focus on sustainability and value creation in the supply chain,” Chijiutomi said.
He further noted that boosting domestic manufacturing capabilities is critical to driving economic productivity.
“No nation overcomes challenges without building a strong manufacturing and industrial economy.
“This is where you create jobs and drive economic development,” he added.
The Group Managing Director of Johnvents Group, John Alamu, described the investment as a major milestone, reinforcing the company’s dedication to building a globally competitive agribusiness sector in Nigeria.
“At Johnvents Group, we are committed to developing a sustainable cocoa industry. This investment into our Premium Cocoa Products Ile-Oluji facility, coupled with our partnership with BII, represents a significant step toward achieving this goal,” Alamu said.
He emphasized that beyond boosting processing capacity, the funding will empower thousands of farmers and contribute to Nigeria’s broader economic growth.
“BII’s partnership with Johnvents also aligns with its commitment to increasing investment in Black-owned and led businesses in Africa, which often face challenges in accessing capital compared to other groups,” he further remarked.
