Nigeria’s cocoa exports surged by 606 percent in the final quarter of 2024, reaching N1.2 trillion, according to data from the National Bureau of Statistics. This marks a significant increase from the N171 billion recorded in the same period of the previous year.
Over the past five years, cocoa has remained one of Nigeria’s leading agricultural exports, generating substantial foreign earnings for Africa’s largest economy.
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On a quarterly basis, cocoa exports rose by 92 percent compared to the N624.71 billion recorded in the third quarter of 2024.
Nigeria is the world’s seventh-largest producer of cocoa beans, with output exceeding 284,000 tonnes in 2023, according to the latest figures from the UN’s Food and Agriculture Organization.
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