Nigeria TV Info

Nigeria’s Q1 Cocoa Exports Hit Record N1.23 Trillion

ABUJA — Nigeria’s economy is reaping major gains from the global surge in cocoa prices, as the commodity delivered unprecedented export earnings in the first quarter of 2025.

According to the H2 2025 Norrenberger Economic Outlook, cocoa export receipts surged by 220 percent year-on-year, climbing to N1.23 trillion compared with N384.1 billion in the same period of 2024.

The Norrenberger report described the development as a landmark achievement, noting that it represents the highest quarterly cocoa export revenue ever recorded in Nigeria. The surge reflects a combination of elevated international prices and stronger export volumes.

Analysts say the windfall from cocoa exports provides a significant buffer for Nigeria’s foreign exchange earnings at a time when the country is grappling with currency volatility and revenue pressures from oil.