A surge in global cocoa prices has led to a significant shift in Nigeria’s agricultural landscape. With prices escalating from approximately $2,200 per metric ton in 2022 to nearly $11,000 in late 2024, many young professionals, including former engineers, bankers, and scientists, are returning to cocoa farming in regions like Ikom, Cross River State. READ […]
The Nigerian Export-Import Bank (NEXIM Bank)has said that exporters in the country are still benefitting from the N50 billion Export Development Fund (EDF) managed by the bank. This, according to the bank, is contrary to assertions that exporters have shunned government intervention. The bank in a statement revealed that in the last nine months, more […]
Nigeria, a one time leading cocoa exporter in Africa is out in the cold as Ghana and Cote d’Ivoire move to address unfavorable cocoa pricing regime in the international market. To reduce the vulnerability of both nations to the volatility of the markets, Ghana and Cote d’Ivoire have joined forces to address the unfavorable global […]
The United States Agency for International Development (USAID) on Tuesday restated its commitment to support Nigerian farmers in boosting cocoa production towards diversification of the nation’s economy. USAID’s Director of Economic Growth and Environment, Mr Mathew Burton, said cocoa was Nigeria’s key export that urgently needed to be developed. Burton said that it was imperative […]