The National Bureau of Statistics (NBS) has revealed a significant surge in Nigeria’s cocoa exports, with the country exporting N1.2 trillion (US$0.78 billion) in 2024, up from N171 billion (US$0.11 billion) in 2023—representing an impressive 606 percent increase in the fourth quarter of 2024 alone.
This surge is attributed to a combination of favorable market conditions and the impact of seasonality, as well as unfavorable weather patterns affecting major global cocoa producers, Cote d’Ivoire and Ghana.
Nigeria’s cocoa exports saw a 92 percent rise from N624.71 billion (US$0.41 billion) in Q3 of 2024, fueled by the ongoing cocoa price rally.
As prices soared, Nigerian cocoa farmers and exporters took advantage of the opportunity, reviving old cocoa trees and planting new ones to tap into the lucrative cash crop value chain.
Superior-quality cocoa beans accounted for N477.95 billion (US$0.31 billion) in exports to the Netherlands, while N108.09 billion (US$70 million) worth of beans went to Malaysia. Standard-quality cocoa beans were also in high demand, with exports worth N110.84 billion (US$72 million) to the Netherlands and N48.96 billion (US$32 million) to Belgium.
However, a recent study by the Independent Research Centre, Climate Central, has raised concerns about the long-term sustainability of the cocoa sector. The research highlights that rising temperatures and erratic weather patterns, attributed to climate change, are posing significant challenges to cocoa production in West Africa.
By 2024, extreme heat events lasting six weeks were recorded across 70% of cocoa-producing regions in Ghana, Cote d’Ivoire, Nigeria, and Cameroon. These high temperatures, exceeding the optimal threshold for cocoa trees, have led to water stress, disrupted growth cycles, and reduced productivity.
While Nigeria has seen a relatively smaller increase in extreme heat compared to neighboring countries, the research indicates that even slight shifts in climate can severely impact cocoa farming. The escalating water stress, coupled with lower yields, poses a significant threat to the stability of Nigeria’s cocoa production.
In response to these sustainability concerns, the World Cocoa Foundation (WCF) has launched the first-ever Greenhouse Gas (GHG) Accounting Standard for Cocoa. Developed in partnership with environmental consultancy Quantis and industry stakeholders, the new standard provides a uniform method for measuring and reducing emissions from cocoa-related activities.
This initiative is aimed at helping cocoa producers meet Scope 3 emissions reporting requirements while addressing key environmental challenges, including deforestation and land degradation caused by the expansion of cocoa farming.
However, the WCF’s new approach emphasizes sustainable agricultural practices to protect the environment and ensure the long-term viability of the cocoa industry, even as it faces the pressures of climate change.
