Nigeria’s cocoa exports hit N1.2tr

Nigeria’s cocoa exports surged to N1.2 trillion in the last quarter of 2024, up sharply from N171 billion in Q4 2023, according to the Senior Special Assistant to the President on Agribusiness, Dr. Kingsley Uzoma.

Speaking at the Nigeria–EU Cocoa Roundtable on European Union Deforestation Regulation (EUDR) compliance, Uzoma described cocoa as a key driver of Nigeria’s non-oil export growth, now accounting for 29% of agricultural exports and 5.6% of total non-oil exports. Over 300,000 smallholder farmers produce 80% of the country’s cocoa output, which reached 320,000 tonnes in the 2023/2024 season. The government is targeting 500,000 tonnes by 2025.

The EUDR, effective December 2025, will ban cocoa linked to post-December 2020 deforestation, requiring full supply chain traceability and proof of sustainable production. Uzoma said compliance would open new opportunities in blockchain traceability, satellite mapping, and farmer productivity.

Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, emphasised that with the EU buying over 60% of Nigeria’s cocoa, meeting the new standards is critical to economic growth and part of President Bola Tinubu’s $1 trillion economy target.

Deputy Director of Cocoa at the Federal Ministry of Agriculture, Ajayi Olutobaba, said most exporters were already compliant and that the government was working to harmonise sector data and establish a national traceability system.

Private sector players, including Tulip Cocoa Processes Limited, pledged continued investment in sustainable farming practices. Tulip’s Sustainability Manager, Dr. Taiwo Osho, called for clearer demarcation of protected areas to guide farmers, boost productivity, and maximise Nigeria’s cocoa potential.