Counting values in look up fields

Please, is there a way I can count the number of occurrence of a particular value in a lookup field that contains multiple values.

I want to create a formula field that can display the number of times a specific value occured in a lookup field so that I will be able to sum it up.

Yes,

You can achieve this by combining the count() and filter() function in a formula:

count(filter(lookup(field you like to count), lookup('field for the condition') = 'condition value'))
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Great! It worked! Thank you for your time, Frederick.