{"id":61497,"date":"2025-02-18T16:16:18","date_gmt":"2025-02-18T16:16:18","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=61497"},"modified":"2025-02-18T16:16:18","modified_gmt":"2025-02-18T16:16:18","slug":"uk-nigerian-firm-seal-40-5m-cocoa-investment-deal","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/02\/18\/uk-nigerian-firm-seal-40-5m-cocoa-investment-deal\/","title":{"rendered":"UK, Nigerian Firm Seal $40.5M Cocoa Investment Deal"},"content":{"rendered":"<p><strong>By Ifeoluwa Odunayo\u00a0<\/strong><\/p>\n<p>British International Investment (BII), the UK\u2019s development finance institution, has committed $40.5 million to Johnvents Group, a leading Nigerian agribusiness and manufacturing company, to enhance cocoa production and exports.<\/p>\n<p>The agreement, signed in Abuja, will enable Premium Cocoa Products, a subsidiary of Johnvents Group, to expand its processing capacity to 30,000 metric tonnes annually.<\/p>\n<p>The investment also aims to achieve 100% traceable cocoa by 2027, ensuring sustainable and transparent sourcing.<\/p>\n<p>Speaking at the signing ceremony, Jonny Baxter, British Deputy High Commissioner in Lagos, reaffirmed the UK\u2019s commitment to sustainable investments that drive job creation and strengthen Nigeria\u2019s agricultural sector.<\/p>\n<p>He expressed optimism that the partnership would accelerate the growth of Nigeria\u2019s cocoa industry and boost export opportunities.<\/p>\n<p>Benson Adenuga, Coverage Director and Head of BII\u2019s Nigeria Office, highlighted the deal\u2019s potential to benefit local farmers, improve Nigeria\u2019s trade balance, and enhance the country\u2019s competitiveness in global markets.<\/p>\n<p>John Alamu, Group Managing Director of Johnvents Group, described the investment as a significant milestone for Nigeria\u2019s agribusiness sector, emphasizing its role in expanding processing capacity, empowering farmers, and driving economic development.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Ifeoluwa Odunayo\u00a0 British International Investment (BII), the UK\u2019s development finance institution, has committed $40.5 million to Johnvents Group, a leading Nigerian agribusiness and manufacturing company, to enhance cocoa production and exports. The agreement, signed in Abuja, will enable Premium Cocoa Products, a subsidiary of Johnvents Group, to expand its processing capacity to 30,000 metric [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":61498,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-61497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=61497"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61497\/revisions"}],"predecessor-version":[{"id":61499,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61497\/revisions\/61499"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/61498"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=61497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=61497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=61497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}