The Cocoa Farmers Association of Nigeria (CFAN) has called on President Bola Tinubu to prioritize financial support for the country’s cocoa sector to sustain its growth and safeguard the livelihoods of millions of farmers. In a letter issued on Monday, the association raised concerns about the inadequate funding that has hindered the industry’s progress, urging the president to fulfill his campaign promises of investing in agriculture, with cocoa being a key focus due to its vital role in Nigeria’s economy.

Signed by Adeola Adegoke, the Director General of the Cocoa Roundtable Initiative and National President of CFAN, the letter appealed directly to the president to support crucial agricultural sectors, especially cocoa, which generates significant foreign exchange earnings and contributes substantially to domestic revenue. Adegoke reminded President Tinubu of his pledge to create boards for key agricultural commodities like cocoa, aimed at regulating and advancing the sector. However, the lack of funding and the absence of legal backing have stalled efforts to transform the National Cocoa Management Committee (NCMC) into a fully operational board.

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Adegoke explained that the NCMC has faced operational challenges for the past two years due to insufficient funding, impacting critical tasks like quality control, monitoring child labor, and resolving contractual disputes. The situation, he stressed, threatens the long-term growth of the cocoa industry. He further emphasized that the sector’s potential is clear, as Nigeria’s cocoa exports surged by 304% in the first quarter of 2024, contributing to a record N1.04 trillion in agricultural exports.

Despite the positive trend in cocoa prices, which have risen above N10 million per metric ton, Adegoke warned that without proper regulation and financial backing, smallholder farmers will continue to struggle with issues related to production, post-harvest quality, and productivity. This, in turn, could undermine the cocoa industry’s future.

CFAN urged President Tinubu, along with the governors of cocoa-producing states, to provide the necessary legal and financial support for the NCMC to ensure the sustainability of the cocoa industry. The association also called for urgent action to secure the sector’s place as the leading cocoa producer in West Africa by 2027.