Nigeria Can Earn More from Agriculture Through Local Processing, Says IFC

– Backs Johnvents’ drive to transform Nigeria’s agric value chains

Fidelis David in Akure

Nigeria can earn significantly more from its agricultural resources by expanding local processing and retaining greater value from commodities before they reach international markets, the International Finance Corporation (IFC), a member of the World Bank Group, has said.

The IFC made the assertion as it strengthened its collaboration with Johnvents Group to accelerate agricultural value addition in Nigeria, with emphasis on local processing, sustainable supply chains, infrastructure, technology, regional trade and access to global markets.

The engagement is aimed at strengthening the link between agricultural production and industrial processing, creating opportunities for more value from African commodities to be created and retained locally while improving the competitiveness of Nigerian products in international markets.

Speaking during the engagement, Olivier Buyoya, IFC Division Director for Nigeria and Central Africa, described Johnvents as an example of how private-sector investment could translate Nigeria’s agricultural transformation agenda into tangible results.

“Johnvents Group shows how that agenda can translate into results: a reliable buyer connecting smallholders to markets, a processor expanding domestic value addition, and a Nigerian company investing in higher standards and long-term sustainability,” Buyoya said.

He also described Johnvents’ inaugural 2025 Sustainability Report, presented during the engagement, as “more than a corporate publication,” noting that it contributed to the broader ambitions of IFC’s AgriConnect initiative.

Prepared in accordance with the Global Reporting Initiative (GRI), the report details the group’s environmental, social and governance performance across its agricultural value chains, with emphasis on traceability, deforestation-free sourcing, climate governance, responsible sourcing, farmer capacity building and child labour prevention.

According to the report, Johnvents reached 40,000 farmers through structured capacity-building programmes during the reporting period, while 122,916 hectares of land were verified as deforestation-free, reflecting the group’s efforts to promote responsible and sustainable agricultural production.

Johnvents, which began as a cocoa-focused business, has since expanded into a diversified agribusiness and food manufacturing group with operations spanning cocoa, soybean, cashew, fast-moving consumer goods and other agricultural value chains.

Speaking on the company’s growth, the Founder and Group Managing Director of Johnvents Group, John Alamu, said the group currently operates 10 factories in Nigeria, has operations across 19 countries and maintains relationships with more than 40,000 farmers.

Alamu said the company’s integrated model, which spans agricultural sourcing, processing, manufacturing and international distribution, was designed to deepen local value creation while positioning African products for stronger competition in global markets.

He added that Johnvents’ sustainability journey had been strengthened by its ongoing collaboration with the IFC, including technical assistance in governance, environmental and social performance, institutional capacity, farmer training and traceability.

Through the collaboration, Johnvents is seeking to further connect agricultural production with processing and value-added manufacturing, with the broader objective of ensuring that more of the economic benefits generated from Africa’s agricultural resources are retained within the continent while opening greater access to regional and international markets.