As part of efforts to fully tap the potential of Cocoa, and for Nigeria to compete favourably with other cocoa-producing countries in the world, stakeholders are requesting government’s support to reposition the industry in 2026.

One of the areas considered as the bane of the industry, is inadequate funding, which many say is a major hindrance to producing world-class cocoa in the country.

Reports have it that the development is leading to loss of revenue by the country. It was reported that Nigeria is losing over $2b yearly due to under explored value chain opportunities within the global Cocoa industry, caused by a lack of the cocoa culture and full appreciation of the value propositions.

It was also learnt that the built-up processing capacity in the country is about 200,000 metric tonnes (MT) to convert cocoa to butter, liquor and cake/powder, but the country is operating at about 30 per cent capacity because the cocoa industry and the domestic market are not properly structured in the manner that will attract the right investments to develop the market to compete with western market offerings.

According to a recent communiqué of the International Cocoa and Chocolate Forum jointly signed by the Founder, International Cocoa Diplomacy (ICD), HRM Oba Dokun Thompson; the Executive Director, Cocoa Research Institute of Nigeria (CRIN), Dr. Patrick Adebola and others, the stakeholders said there is lack of proper and creative funding to fully develop the opportunities within the industry.

“CRIN is underfunded and NEXIM Bank is not structured or funded like its similar counterparts – AFREXIM or EXIM Bank of India to undertake major investments and financing of necessary and required major infrastructure projects to further the export trade.

“Manufacturing has become unattractive due to lack of necessary infrastructure to support the services rendered that will make cost of production and quality competitive with imported products and we need agriculture that must lead into industrialisation.

“N100b was set aside for an Agric Development Fund out of the 2024 Agric Budget of N900b to support endeavours such as the ICD Forum, which had world views because the country will be competing with other countries who may have several policies and subsidy regimes to take advantage of market share and it is important to recalibrate government policies now and again to compensate for gaps and to provide infrastructure that will ensure various sectors of the economy work,” the communiqué read.

The stakeholders disclosed that the cocoa sector is dominated by a few global players creating an oligopolistic market, which makes trading difficult because they determine the price, sustainability measures and certifications, required training modules for farmers, and many more.

To address this, stakeholders have canvassed more support for farmers and research institutes to boost the production of cocoa and other cash crops. The Vice Chancellor of Taraba State University, Professor Sunday Bako, who called on the Federal Government to adequately fund agricultural research institutions in order to boost Nigeria’s cocoa production, said the lack of funds remained the bane of producing sufficient cocoa in the country.

The VC said: “We have the manpower but the lack of adequate funding remains the bane of producing world- class cocoa in the country. Now that the prices of cocoa per tonne have increased globally, more farmers should be encouraged through adequate funding.”

The Executive Director of CRIN, Dr. Patrick Olusanmi Adebola, who commended cocoa farmers for their roles in allowing their research to be tested and trusted, urged young farmers and researchers to learn from their senior colleagues.

Adebola also attributed the institute’s inability to carry out more meaningful research to paucity of funds. He therefore, called on the Federal Government to ensure that adequate funding is provided for research purposes as the only way to boost the nation’s cash crops production especially cocoa.

“We cannot be doing research in isolation without the farmers and we need your contributions as we move on in our research works.” On his part, the President of Cocoa Farmers’ Association in the Nigeria, Adeola Adegoke, also called on Nigerians to embrace farming, especially the production of cash crops.

Adegoke said CRIN had already laid the foundation with innovations in pest-resistant hybrids, bio-fertilisers from cocoa pod husk and neem, micro-propagation techniques, and farmer-participatory composting models.

“Integrating these efforts with digital technologies for data management, traceability, and transparency will be key. Blockchain and digital platforms can eliminate middlemen, reduce losses, combat corruption, and ensure fair prices for farmers.

“The development of robust databases through genetic fingerprinting, hybrid evaluation, and regional field trials further enhances our capacity to scale effectively. With accurate data, we can not only meet export quality standards but also tap into emerging opportunities such as carbon markets.

“These projects can generate new revenue streams for farmers and stakeholders, but they come with critical responsibilities: implementation of sustainable land use from day one, and meticulous reporting, monitoring, and verification to meet global carbon standards,” he said.