Nigerian cocoa processors are facing severe challenges due to multiple taxation and high operational costs, leading to a drastic decline in production capacity. Currently, the country's five remaining cocoa processing plants are operating at only 8% capacity, significantly down from a previous total of 15 factories.
The Cocoa Processors Association of Nigeria has called for a state of emergency in the sector, highlighting that the harsh economic environment and proposed new export regulations by NAFDAC could further stifle the industry, jeopardizing investments and employment opportunities.
Citations:
[1] https://agronigeria.ng/cocoa-processors-lament-worsening-economic-situation-operating-at-8-capacity/
[2] https://businessday.ng/business-economy/article/nigerias-five-cocoa-processing-plants-operate-at-8-capacity-over-worsening-challenges/
[3] https://punchng.com/nafdacs-proposed-export-regulation-will-harm-nigerias-cocoa-industry-processors/
[4] https://atqnews.com/africa-nigerias-cocoa-processing-plants-struggle-at-8-capacity-with-15-plants-closed-due-to-high-costs-and-taxation-amid-economic-hardships/
[5] https://www.tridge.com/news/nigerian-cocoa-processing-industry-in-declin-pyrcjl