Nigerian farmers are struggling to profit from the lucrative $284 billion global cocoa and coffee industry due to a lack of a robust agricultural value chain. Adeola Adegoke, the Global President of the Cocoa and Coffee Farmers Alliance Association of Africa (COCEFAAA), highlighted that local producers earn far less than international standards because of persistent structural neglect and insufficient government backing.
Speaking at a stakeholders’ event in Akure for a new 1,000-hectare coffee initiative by Lingzhi Global Nigeria Limited, Adegoke explained that Nigeria has missed out on the wealth generated by the global coffee sector. While the market is expected to reach $486.2 billion by 2035, Nigeria’s output has plummeted from 95,000 bags in the 1960s to a mere 1,844 metric tonnes currently.
Nigeria recorded zero coffee exports in the first nine months of 2024, placing it 147th globally. In contrast, African peers like Ethiopia, Uganda, and Kenya have successfully established major export hubs. Adegoke cautioned that Nigeria is evolving into a mere consumer market, enriching importers while local farmers lag behind. However, he remains hopeful that the new Ondo State project will boost productivity and serve as a blueprint for agricultural growth.
Representing the Federal Government, Minister of Agriculture Senator Abubakar Kyari affirmed that the project aligns with national goals for economic diversification. Furthermore, Blessing Tangtur, CEO of Lingzhi Global, encouraged the inclusion of youth in farming to ensure long-term sustainability and wealth creation across the sector.
