The Cocoa Roundtable Initiative (CORI) has called on President Ahmed Bola Tinubu to provide strategic support for Nigeria’s cocoa industry, specifically requesting funding and the transformation of the National Cocoa Management Committee (NCMC) into a statutory board. This appeal, outlined in an open letter to the President, emphasizes the need to sustain and grow Nigeria’s cocoa economy by supporting critical regulatory bodies and providing subsidies to farmers.
The open letter, signed by CORI’s Director-General Comrade Adeola Adegoke, also urged the federal government to fund the National Task Force on the EU Deforestation Regulation (EUDR) to safeguard Nigerian cocoa from potential sanctions by the European Union, which recently extended its deadline for sustainable cocoa compliance by another 12 months. According to CORI, adequate support for the Task Force would help address EU regulatory requirements, protecting Nigeria’s cocoa exports valued at billions of dollars.
CORI commended the significant progress made by the Nigerian cocoa sector in 2024. Data from the National Bureau of Statistics indicates a remarkable 304% increase in cocoa exports in Q1 2024, rising to N438.7 billion from N108.6 billion in the same period last year. Cocoa accounted for 42.4% of Nigeria’s N1.04 trillion agricultural exports, becoming a vital source of foreign exchange amid economic reforms.
Despite these gains, CORI stressed that the unregulated cocoa market has left smallholder farmers vulnerable to low productivity, post-harvest losses, and quality issues. The establishment of the NCMC by the previous administration in 2022 was seen as a positive step, but CORI argues that insufficient funding has limited the committee’s ability to carry out essential duties like quality control, climate resilience initiatives, and monitoring child labor.
“Funding constraints have undermined the NCMC’s ability to address critical issues and enhance Nigeria’s position in the global cocoa market,” said Comrade Adegoke. He also highlighted that, given President Tinubu’s campaign promise to establish regulatory boards for key agricultural commodities, cocoa deserves priority as a top foreign exchange earner and a source of livelihood for many rural farmers.
CORI is also calling for subsidized inputs to support smallholder farmers, believing that this would boost productivity and position Nigeria to overtake Côte d’Ivoire as the leading cocoa producer in West Africa by 2027. According to CORI, providing affordable resources and infrastructure could lead to transformative prosperity for Nigeria’s cocoa farmers.
The appeal concludes with CORI’s assurance of continued collaboration with all stakeholders to advance the Nigerian cocoa sector, deepening sustainable practices and ensuring prosperity for cocoa farmers. The initiative also calls upon governors of cocoa-producing states and other industry leaders to lend their support for the industry’s growth and sustainability.