Nigeria’s cocoa exports surged to N1.2 trillion in the last quarter of 2024, a sharp rise 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 compliance with the European Union Deforestation Regulation (EUDR), 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.

Over 300,000 smallholder farmers produce 80% of Nigeria’s cocoa output, which reached 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 occurring after December 2020. It will require full supply chain traceability and proof of sustainable production. Uzoma said meeting these standards could unlock new opportunities in blockchain traceability, satellite mapping, and farmer productivity.

Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, noted that the EU buys more than 60% of Nigeria’s cocoa, stressing that compliance is essential for sustaining economic growth and achieving 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. He added that the government is working to harmonise sector data and develop a national traceability system.

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