TGI Group launches financial inclusion drive to empower cocoa farmers, boost Nigeria’s cocoa industry 

NIGERIA – Tropical General Investments (TGI) Group has launched the Osun Financial Inclusion Drive (OFID), a major step towards strengthening rural economies and promoting inclusive financial access in Nigeria’s cocoa sector.  

The initiative is implemented under TGI’s sustainable cocoa program through WACOT Limited, a member of the group. 

OFID builds upon the earlier Kebbi Financial Inclusion Drive (KFID) launched in 2022, which successfully reached over 5,000 farmers across five local governments in Kebbi State.  

The Osun edition has already impacted over 1,700 cocoa farmers across 92 rural communities, providing access to formal banking services, digital financial tools, and financial literacy training. 

The program is aligned with TGI’s sustainability agenda, which focuses on empowering underserved farming populations and embedding financial inclusion in agricultural operations. It particularly emphasizes the participation of women and youth in rural economies. 

Yosola Ononuga, Head of Sustainability at TGI Group, stated, “For us at TGI, inclusion starts at the grassroots. OFID is about equipping farmers with the tools to participate meaningfully in today’s economy. This is sustainability in action—creating access, building resilience, and empowering communities from within.” 

The inclusion initiative aims to address long-standing gaps in financial access that limit the economic independence of smallholder farmers. By opening bank accounts, learning mobile payment systems, and gaining financial planning skills, farmers are positioned to improve income security and long-term growth. 

Oladipupo Fatai, a cocoa farmer in Olosun Community, Akeredolu, shared, “Prior to this time, it has not been easy for me to manage my finances and this is my first time opening an account. Now, I have a bank account and I’ve learned how to use my phone for payments.” 

As part of the program’s closing activities, over 100 cocoa farmers received Sustainability Differential (SD) payments—financial incentives provided to farmers who met responsible and traceable cocoa farming standards. 

The initiative aligns with Nigeria’s broader efforts to revitalize the cocoa industry. Vice-President Kashim Shettima recently reiterated the government’s focus on transitioning Nigeria from a cocoa producer to a major global processor. 

He highlighted the potential value gains: “A tonne of cocoa earns $9,000, but processed cocoa can fetch US$30,000. If transformed into chocolate bars, returns can go up to US$50,000.” 

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