According to reports, Nigeria risks losing up to $20 billion in cocoa exports over the next three years due to environmental issues and improper farming practices.
The Forestry Research Council (FRC) has warned that neglecting problems like deforestation and unsustainable farming methods could significantly diminish the quality and market appeal of Nigerian cocoa, leading to major revenue losses for the country's key agricultural export [1][2][4]. This highlights the urgent need for Nigeria to address environmental and sustainability challenges in its cocoa sector to maintain its position as a major global producer and exporter.
Citations:
[1] https://dailynigerianews.com.ng/2024/07/10/nigeria-risks-losing-20bn-in-cocoa-exports-frc/
[2] https://newstral.com/en/article/en/1255294517/nigeria-may-lose-20bn-in-cocoa-exports-over-environmental-issues-says-frc-boss
[3] https://news.google.com.ng/news/section?cf=all&hl=en&ict=clu_bl&ned=en_ng&pz=1&q=Nigeria
[4] https://agronigeria.ng/nigeria-risks-losing-20bn-revenue-from-cocoa-export-in-three-years-frc/
[5] https://agronigeria.ng/fg-announces-comprehensive-food-production-plan-for-2024-2025-farming-cycle/