Cocoa Bean Upward Trend

A recent analysis of cocoa bean production in Nigeria from 2012/2013 to 2023/2024 has revealed a steady upward trend. The data, sourced from the Lagos Business School, indicates a consistent increase in production over the past decade.

The data reveals a generally stable trend, with production fluctuating between 200,000 and 300,000 metric tons annually.

While there were minor fluctuations year-to-year, the overall trajectory is positive, signifying the country's commitment to the cocoa industry. This growth can be attributed to various factors, including increased government support, improved farming practices, and favorable climatic conditions.

Cocoa is a significant contributor to Nigeria's economy, providing employment opportunities, generating foreign exchange earnings, and supporting rural livelihoods. The sector's performance has a direct impact on the country's Gross Domestic Product (GDP).

To further stimulate economic growth and enhance the contribution of the cocoa sector, the following strategies can be considered such as Investment in Research and Development, Infrastructure Development, Farmer Empowerment, Value Addition, Diversification etc.

By implementing these strategies, Nigeria can unlock the full potential of its cocoa sector and contribute to the overall economic development of the country.