Cocoa exports surge

Nigeria’s cocoa bean exports to the United States rose from $21.7 million in 2024 to $142 million in 2025.

554% increase

The figure represents an increase of about 554.4 per cent within one year.

US mission statement

U.S. demand for Nigerian cocoa is booming. Cocoa bean exports to the United States jumped from $21.7 million in 2024 to $142 million in 2025.

Trade benefits

The trade relationship also benefits Nigeria through US agricultural exports, noting that wheat accounts for 67 per cent of US agricultural exports to the country.

Two-way trade

The trade represents 'fair, two-way trade that works for farmers, businesses, and families on both sides of the Atlantic'.

“fair, two-way trade that works for farmers, businesses, and families on both sides of the Atlantic”

Industry challenges

Nigeria’s cocoa industry has struggled with declining productivity, ageing plantations and growing pressure from urbanisation and population growth.

Ageing farmers

Many cocoa trees are between 20 and 40 years old, while the average cocoa farmer is about 60 years old.

Smallholder challenges

Smallholder farmers face high borrowing costs, inadequate access to fertilisers and pesticides, poor-quality or counterfeit seedlings.

International regulations

International regulations, including the European Union Deforestation Regulation (EUDR), are increasing pressure on producers.

Limited processing

Historically, more than 80 per cent of the country’s cocoa has been exported in raw form.

Domestic processing

Indigenous companies, including Johnvents, which operates in Ondo State, are seeking to expand domestic processing.

EIB and FCMB financing

EIB Global and First City Monument Bank (FCMB) announced €85 million in financing to support private-sector businesses.

National Cocoa Board

Stakeholders advocate the establishment of a National Cocoa Management Board to restore quality control.

NATIP policy

These proposals form part of broader efforts under Nigeria’s National Agricultural Technology and Innovation Policy (NATIP) 2022, 2027.

Export earnings

According to the National Bureau of Statistics, Nigeria’s agricultural exports grew significantly with cocoa beans accounting for ₦596.90 billion.

US as fourth destination

In the first quarter of 2025, the US was the fourth-largest destination for Nigeria’s cocoa exports, accounting for about 6.1 per cent.

Trade conditions

Nigeria’s overall exports to the US declined by 20.5 per cent in the first nine months of 2025, while the US tariff rate increased from 14 to 15 per cent.

US tariff exemption

The US subsequently exempted certain commodities, including cocoa, from its 10 per cent reciprocal tariff.

Global price decline

Global cocoa prices declined sharply during 2025, falling from $10,950 per tonne to approximately $5,400 by November.

Production decline

Nigeria’s cocoa production was projected to decline by 11 per cent in the 2025/2026 season.