Nigeria’s cocoa exports soared to ₦1.2 trillion in the last quarter of 2024, a sharp rise from ₦171 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 the country’s non-oil export growth. Cocoa now accounts for 29% of agricultural exports and 5.6% of total non-oil exports. More than 300,000 smallholder farmers produce 80% of Nigeria’s cocoa, with output reaching 320,000 tonnes in the 2023/2024 season. The government aims to increase this to 500,000 tonnes by 2025.
The EUDR, which takes effect in December 2025, will ban cocoa linked to deforestation after December 2020. Exporters will be required to provide full supply chain traceability and proof of sustainable production. Uzoma said compliance could open new opportunities in blockchain traceability, satellite mapping, and improved farmer productivity.
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, stressed that since the EU buys over 60% of Nigeria’s cocoa, meeting the new sustainability standards is critical to economic growth and aligns with President Bola Tinubu’s $1 trillion economy target.
Deputy Director of Cocoa at the Federal Ministry of Agriculture, Ajayi Olutobaba, noted that most exporters are already compliant. He said the government is working to harmonise sector data and set up a national traceability system.
Private sector stakeholders, including Tulip Cocoa Processes Limited, reaffirmed their commitment to sustainable farming. Tulip’s Sustainability Manager, Dr. Taiwo Osho, urged clearer demarcation of protected areas to guide farmers, boost yields, and unlock Nigeria’s cocoa potential.