November 11, 2024
By Samuel Ogunsona
Nigeria’s cocoa farmers, represented by the Cocoa Roundtable Initiative (CORI), have made a passionate plea to President Ahmed Bola Tinubu to provide strategic support to the country’s cocoa industry.
In an open letter, CORI’s Director-General, Comrade Adeola Adegoke, emphasized the need for funding and transformation of the National Cocoa Management Committee (NCMC) into a statutory board to sustain and grow Nigeria’s cocoa economy.
The cocoa sector has experienced remarkable growth in 2024, with a 304% increase in exports in the first quarter, valued at N438.7 billion, up from N108.6 billion in the same period last year.
Cocoa now accounts for 42.4% of Nigeria’s N1.04 trillion agricultural exports, providing vital foreign exchange amid economic reforms.
However, despite this progress, smallholder farmers remain vulnerable due to an unregulated market, leading to low productivity, post-harvest losses, and quality issues. CORI argues that insufficient funding has hindered the NCMC’s ability to perform essential duties such as 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.
