Nigeria’s cocoa industry has posted an unprecedented surge in export earnings, skyrocketing from N171 billion in the last quarter of 2023 to N1.2 trillion in Q4 2024, signalling a major win in the nation’s quest to diversify its economy away from oil dependency.
The Senior Special Assistant to the President on Agribusiness and Productivity Enhancement, Dr. Kingsley Uzoma, announced the milestone at the Nigeria–EU Cocoa Roundtable on European Union Deforestation Regulation (EUDR) compliance, describing cocoa as a strategic driver of the non-oil export economy.
According to Uzoma, cocoa now represents about 29% of Nigeria’s total agricultural exports and 5.6% of non-oil exports, with more than 300,000 smallholder farmers responsible for 80% of production. The country produced 320,000 metric tonnes in the 2023/2024 season and is targeting 500,000 tonnes by 2025 through government-led interventions in productivity, farmer training, and export facilitation.
A key focus of the roundtable was Nigeria’s readiness for the EU’s new deforestation law, which from December 30, 2025, will ban imports of cocoa linked to deforestation after December 2020. The EUDR mandates full supply chain traceability, proof of deforestation-free production, and stricter due diligence protocols.
Uzoma explained that compliance will open new markets and investment in traceability technology, blockchain-enabled monitoring, and satellite mapping. He confirmed that the Federal Government is working with agencies such as the Nigeria Customs Service, the Federal Inland Revenue Service (FIRS), and the National Space Research and Development Agency (NASRDA) to harmonise cocoa sector data and develop a national traceability and sustainability system.
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, stressed that the EU accounts for over 60% of Nigeria’s cocoa exports, making compliance not only an economic necessity but also a vital component of President Bola Tinubu’s $1 trillion economy target under the Renewed Hope Agenda.
Similarly, Deputy Director of Cocoa at the Federal Ministry of Agriculture and Food Security, Ajayi Olutobaba, representing Minister Senator Abubakar Kyari, said most Nigerian exporters are already compliant with EUDR standards. The challenge now is to centralise data, safeguard its ownership, and guarantee easy presentation to the EU.
Sustainability Manager at Tulip Cocoa Processes Limited, Dr. Taiwo Osho, reiterated the company’s dedication to sustainable agriculture, working directly with farmers to implement good agricultural practices, improve yields, and meet EUDR standards.
He urged the government to demarcate protected areas to reduce farmer confusion, encourage cocoa cultivation in designated regions, and address persistently low yields. “Nigeria has vast cocoa farmlands, but without productivity improvements, we won’t maximise our potential,” Osho said.
Industry analysts say Nigeria’s recent surge in cocoa export value reflects both higher global prices and stronger trade positioning. However, they warn that the EUDR deadline is a make-or-break moment—failure to comply could result in market losses worth billions.
With the government, private sector, and international partners aligned, stakeholders are optimistic that Nigeria can not only meet EU compliance requirements but also leverage this opportunity to position itself as Africa’s leading cocoa producer and exporter over the next decade.