Nigeria generated N356.16b worth of Cocoa beans and its allied products in 2023. It also accounted for 28.72 per cent of total agricultural exports (N1.24tr) in 2023 and 5.6 per cent of non-oil exports, which makes it the highest agricultural contributor to the Gross Domestic Product (GDP).
As at last January, a ton of the produce, valued at N1.8m, is currently valued at N11.2m per ton in the Nigerian market, which implies that cocoa development in the country is economically viable for investment both locally and internationally.
However, despite its current position, the country is still faced with the impending European Union Deforestation Regulation (EUDR) threats and access to the carbon credit funds, necessitating the need for an emergency in the cocoa sector.
Saddled with the task of guaranteeing quality, traceability, transparency, and sustainability in Cocoa Value Chain, the National Cocoa Management…
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