FG Targets 500,000-Tonne Cocoa Boom as Exports Soar 606%

The Federal Government has reiterated its determination to boost Nigeria’s cocoa production to 500,000 tonnes by 2025 while ensuring full compliance with the European Union Deforestation Regulation (EUDR). Officials say the move is part of a broader strategy to diversify the economy, create jobs, and strengthen sustainable trade links.

Speaking at the Nigeria-EU Cocoa Roundtable on EUDR Compliance in Abuja, the Senior Special Assistant to the President on Agribusiness and Productivity Enhancement, Kingsley Uzoma, described cocoa as a critical driver of the country’s non-oil export growth. He noted that exports of the commodity surged by 606 per cent in the last quarter of 2024, rising from about ₦171 billion in late 2023 to ₦1.2 trillion. Cocoa now accounts for nearly 29 per cent of total agricultural exports and 5.6 per cent of non-oil exports.

Uzoma said compliance with EUDR requirements—which include full traceability, due diligence, and proof of deforestation-free supply chains—aligns with Nigeria’s green economy agenda, tackling climate change while protecting biodiversity. He revealed that more than 300,000 smallholder farmers produce 80 per cent of the nation’s cocoa output, contributing around 6 per cent of global supply.

While highlighting innovations in blockchain tracking, satellite mapping, and sustainable farming, he acknowledged the need for stronger financing mechanisms, proposing a dedicated cocoa sector credit line with flexible repayment options. He also announced plans to enhance research collaboration with the Raw Materials Research and Development Council, improve data transparency, and boost local processing capacity to raise yields by up to 50 per cent.

Minister of Trade and Investment, Olajumoke Oduwole, emphasised the strategic importance of meeting EU standards, with over 60 per cent of Nigeria’s cocoa exports destined for Europe. She pointed to the use of space technology to monitor production and ensure funding reaches compliant farmers. Oduwole described the challenge as both a test and an opportunity for Nigeria to strengthen its foreign exchange earnings, create jobs, and advance food sovereignty.

Officials reiterated that under President Bola Tinubu’s Renewed Hope Agenda, the government aims to position Nigerian cocoa as a global benchmark for sustainability and quality, combining environmental protection with economic growth.