The Federal Government said on Thursday that it has mapped out strategies to revitalise and enhance the production of cocoa in all areas of its value chain. It said it took the step following a decline in the cocoa production in the country, a development it described as worrisome. At a two-day stakeholders capacity building and training in Akure, Ondo …

Nigeria exported cocoa and cocoa preparations worth N358 billion in 2023. The Minister of Agriculture and Food Security Abubakar Kyari, who made this known, said that the N358 billion realised in cocoa exports was the highest agricultural contributor to Nigeria’s gross domestic products for the period. Data from the United Nations COMTRADE database on international trade indicated that this represents …

Nigerian cocoa farmers and exporters are reaping big as global cocoa prices hit record high, thanks to the steep naira devaluation that has resulted in a sharp increase in the naira income from the export of the beans. The cost of cocoa – the key ingredient for making chocolate – has almost doubled since the start of the year, and …