The Cocoa Roundtable Initiative (CORI) has issued an urgent appeal to President Ahmed Bola Tinubu to enhance Nigeria’s cocoa industry through targeted financial support and structural reforms. In an open letter to the President, CORI requested funding for key regulatory bodies and proposed transforming the National Cocoa Management Committee (NCMC) into a statutory board to strengthen the cocoa economy and ensure sustained growth.
Signed by CORI’s Director-General, Comrade Adeola Adegoke, the letter also urged the federal government to allocate resources to the National Task Force on the EU Deforestation Regulation (EUDR). The Task Force’s mandate includes ensuring Nigeria’s compliance with the European Union’s deforestation standards, which have recently been extended by 12 months, protecting the nation’s cocoa exports valued at billions of dollars.
CORI praised the advancements seen in the Nigerian cocoa sector throughout 2024, with data from the National Bureau of Statistics showing an impressive 304% increase in cocoa exports in Q1, jumping to N438.7 billion from N108.6 billion in the previous year. Cocoa now represents 42.4% of Nigeria’s N1.04 trillion agricultural exports, serving as a key foreign exchange earner amid ongoing economic reforms.
Despite these achievements, CORI highlighted the challenges faced by smallholder cocoa farmers in an unregulated market, including low productivity, post-harvest losses, and quality control issues. Established in 2022, the NCMC was tasked with addressing these challenges, but CORI contends that inadequate funding has hindered its effectiveness, particularly in quality assurance, climate adaptation, and child labor monitoring.
“Funding limitations have restricted the NCMC’s ability to address essential issues, impacting Nigeria’s global competitiveness in the cocoa market,” stated Comrade Adegoke. He noted that President Tinubu’s commitment to establishing regulatory boards for critical agricultural commodities should include prioritizing cocoa, a significant foreign exchange contributor and a vital income source for many rural communities.
To support smallholder farmers, CORI is advocating for subsidized agricultural inputs to enhance productivity, with the goal of positioning Nigeria to surpass Côte d’Ivoire as West Africa’s leading cocoa producer by 2027. CORI believes that improved access to affordable resources and infrastructure can unlock transformative opportunities for cocoa farmers across Nigeria.
The appeal concluded with CORI’s pledge to continue working alongside stakeholders to foster sustainable practices in the cocoa sector, promoting prosperity for farmers. CORI also called on governors of cocoa-producing states and other industry leaders to back initiatives aimed at the industry’s sustainable growth and advancement.
