Nigeria earns N122.9bn from cocoa export - Official

Nigeria’s foreign earnings from cocoa hit N122.9 billion in the first quarter of 2022, according to the Minister of Agriculture and Rural Development, Muhammad Abubakar.

Mr Abubakar said this at the National Cocoa Festival, held in Akure, Ondo State, on Thursday.

He was represented by the ministry’s South-west Zonal Director, Omolara Abimbola-Oguntuyi.

The minister noted that it had become obvious that the country could not continue to rely on crude oil to develop the economy, going by the instability of oil prices in the face of the Russian-Ukraine war.

He stressed that cocoa production and marketing occupied a preeminent position in the recently launched National Agricultural Technology and Innovation Policy document (NATIP).

“If there is no production there will be nothing for farmers to take to the market,” he said.

“Diversification is no longer a myth but a reality. In this regard, agriculture holds the key to our collective survival as a people both in terms of job creation, income generation, food, and nutritional security as well as foreign exchange earnings.

“Cocoa as you know is Nigeria’s top agricultural export. In 2022 Q1, N122.89 billion was earned from the export of raw cocoa beans and cocoa products (National Bureau of Statistics and Analytics).

“It is the largest non-oil foreign exchange earner for the country, as well as providing sources of employment to millions of Nigerians as farmers, processors, licensed buying agents, marketers, and exporters”.

“Cocoa also contributes about 41.6% to Nigeria’s export earnings and currently Nigeria is ranked 4th in cocoa production behind Cote d’Ivoire, Ghana, and Indonesia in the world, with a production capacity of 340,163 tonnes.”

Meanwhile, the Ondo State Governor, Rotimi Akeredolu, said the festival was a clear indication that all stakeholders in the sector needed to come together as a strong and willing force to salvage the fluctuating fortune of the cocoa industry in Nigeria.

Speaking through his Senior Special Assistant on Agriculture, Akin Olotu, the governor, said it was also a clarion call for all to synergise with a view to bringing back the lost glory in the industry.

“It is interesting to note that from available records, Nigeria produced and exported 310,000 metric tons of cocoa in 1970/1971 but in 2020/2021, fifty years after, Nigeria was still struggling to produce 280,000 metric tonnes,” he said.

“This is indeed a matter of concern. Quality-wise, we are no better. Nigeria’s cocoa beans which used to be of very super grade with which other countries’ cocoa is blended have since drastically diminished in quality.”

Governor Akeredolu charged the players in the Nigeria cocoa value chain to be united to think outside the box, work for increased funding and speak with one voice to move cocoa production forward.

In his remarks, the National President of Cocoa Farmers Association of Nigeria (CFAN), Adeola Adegoke, said the power of collaboration and partnership being enjoyed in the industry birthed the festival.

“It is important to improve the livelihood of smallholder cocoa farmers in Nigeria through finance, production, productivity, training, workshops, improved infrastructure in our cocoa communities, planet protection, and sustainable ecosystem,” he said.

“However, the need to create an inclusiveness amongst the cocoa value chain stakeholders and considering our national interest and the international demand for a sustainable cocoa that takes into consideration our planet Earth and the livelihood of our smallholder cocoa farmers across the cocoa industry informed our decision to collaborate and change the theme to “National Cocoa Festival” in this year 2022.

“This is to give all players in the sector the ownership and partnership to achieve our national collective goal that encompasses the entire cocoa value chain in Nigeria.”