The Federal Government has reaffirmed its commitment to growing Nigeria’s cocoa industry while ensuring full compliance with the European Union Deforestation Regulation (EUDR).
Speaking at the Nigeria–EU Cocoa Roundtable on Monday in Abuja, Senior Special Assistant to the President on Agribusiness, Kingsley Uzoma, described cocoa as a cornerstone of the country’s economic diversification agenda. He noted that cocoa exports surged by 606% in the last quarter of 2024, rising from N171bn to N1.2tn, now accounting for 29% of agricultural exports and 5.6% of total non-oil exports.
Uzoma stressed the need for traceability, deforestation-free supply chains, and technology-driven monitoring such as blockchain and satellite mapping. He revealed that over 300,000 smallholder farmers produce 80% of Nigeria’s cocoa, with output projected to hit 500,000 tonnes by 2025.
Highlighting financing gaps, he called for innovative credit lines for the sector and stronger institutional coordination, including a dedicated agency to manage cocoa data. He said EUDR compliance could drive local processing, boost yields by up to 50%, and attract climate finance.
Minister of Trade and Investment, Olajumoke Oduwole, underscored technology’s role in compliance, revealing that Nigeria’s space agency supports traceability efforts and farmer funding. She emphasised that with the EU taking over 60% of Nigeria’s cocoa exports, compliance is an economic and environmental necessity.
Both officials reiterated that under the Renewed Hope Agenda, cocoa will be a driver of foreign exchange earnings, job creation, and sustainable trade.
