Nigeria can significantly increase its earnings from agricultural resources by expanding local processing and retaining more value from commodities before they reach international markets. This is according to the International Finance Corporation (IFC), a member of the World Bank Group. The IFC made this assertion as it strengthened its collaboration with Johnvents Group to accelerate agricultural value addition in Nigeria.
The engagement between IFC and Johnvents aims to strengthen the link between agricultural production and industrial processing. This will create opportunities for more value from African commodities to be created and retained locally, improving the competitiveness of Nigerian products in international markets. Olivier Buyoya, IFC Division Director for Nigeria and Central Africa, commended Johnvents as an example of private-sector investment translating Nigeria's agricultural transformation agenda into tangible results.
Johnvents Group has made significant strides in agricultural value addition, operating 10 factories in Nigeria and maintaining relationships with over 40,000 farmers. The company's integrated model spans agricultural sourcing, processing, manufacturing, and international distribution. This approach is designed to deepen local value creation while positioning African products for stronger competition in global markets.
Johnvents' inaugural 2025 Sustainability Report, presented during the engagement, highlights the company's environmental, social, and governance performance. The report details the group's efforts in traceability, deforestation-free sourcing, climate governance, responsible sourcing, farmer capacity building, and child labor prevention. According to the report, Johnvents reached 40,000 farmers through structured capacity-building programs and verified 122,916 hectares of land as deforestation-free.
The IFC's collaboration with Johnvents is part of its broader AgriConnect initiative. Buyoya described Johnvents' sustainability report as "more than a corporate publication," noting its contribution to the IFC's ambitions. The report was prepared in accordance with the Global Reporting Initiative (GRI), demonstrating Johnvents' commitment to transparency and accountability.
Johnvents, founded by John Alamu, has expanded from a cocoa-focused business to a diversified agribusiness and food manufacturing group. The company operates across 19 countries, with a presence in cocoa, soybean, cashew, fast-moving consumer goods, and other agricultural value chains. Alamu emphasized that the company's sustainability journey has been strengthened by its ongoing collaboration with the IFC.
The partnership between IFC and Johnvents aims to promote sustainable agricultural practices and improve the competitiveness of Nigerian products. By supporting local processing and value addition, the initiative can help Nigeria earn more from its agricultural resources and create opportunities for economic growth. Key aspects of the partnership include sustainable supply chains, infrastructure development, technology adoption, and access to global markets.
Key points
- IFC partners with Johnvents to boost Nigeria's agricultural value chains through local processing and sustainable practices.
- Johnvents operates 10 factories in Nigeria, working with over 40,000 farmers and maintaining a presence in 19 countries.
- The partnership aims to promote sustainable agricultural practices and improve the competitiveness of Nigerian products in global markets.
