Lagos, April 3, 2025 (Naija247news) – The introduction of new tariffs on cocoa exports by major global markets is posing a serious threat to Nigeria’s cocoa industry, potentially reducing the competitiveness of Nigerian cocoa farmers and favoring European chocolate manufacturers.
Despite a remarkable 606% surge in Nigeria’s cocoa exports in the last quarter of 2024—rising to N1.2 trillion (US$0.78 billion) from N171 billion (US$0.11 billion) in the same period of 2023, according to the National Bureau of Statistics (NBS)—stakeholders fear that newly imposed tariffs could slow this progress.
The new tariffs, primarily imposed by European nations, increase the cost of raw cocoa imports from Nigeria and other African cocoa-producing countries. This gives European chocolatiers an edge, as they benefit from lower domestic processing costs, making Nigerian cocoa less attractive on the international market.
Industry analysts have warned that the shift could significantly affect Nigerian cocoa farmers and exporters, reducing access to high-value markets and diminishing revenue. The Cocoa Farmers Association of Nigeria (CFAN) has expressed concerns over the impact of these tariffs, urging the government to negotiate trade agreements that protect local growers.
“Nigeria’s cocoa sector is already struggling with high production costs, inadequate infrastructure, and climate-related challenges,” said CFAN President Adeola Adegoke. “These tariffs will make it even harder for our farmers to compete globally.”
To counteract the impact of the tariffs, experts suggest that Nigerian cocoa exporters must accelerate the shift towards local value addition—processing cocoa into butter, powder, and liquor before export. While this could be a long-term strategy for increasing profitability, the immediate effect is increased financial strain on farmers and processors who depend on raw bean exports.
With cocoa being one of Nigeria’s top non-oil exports, trade restrictions could significantly affect foreign exchange earnings at a time when the country is prioritizing economic diversification. Industry leaders and policymakers are calling for government intervention to support local processing capacity and secure fairer trade policies in international negotiations.
As the global cocoa market shifts, Nigeria must navigate these challenges strategically to ensure its cocoa industry remains a major player in global trade.
📌 Editor’s Note: For content partnerships and collaborations, reach out via editor@naija247news.com
Naija247news Media Group LLC is committed to ethical, independent journalism that serves the public interest. Our editorial process prioritizes accuracy, fairness, and transparency in reporting. All content is fact-checked and held to the highest standards of integrity. Learn more in our full editorial policy here.
© 2025 Naija247news Media Group LLC. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten, or redistributed in whole or in part without prior express written permission from Naija247news Media Group LLC.
Reporting by Babatunde Akinsola in Lagos, Nigeria.
