Home Business Nigeria’s Coffee Sector Aims for $2 Billion in Revenue

Nigeria’s Coffee Sector Aims for $2 Billion in Revenue

Key stakeholders within Nigeria’s coffee sector are expressing confidence in the industry’s potential to generate $2 billion in revenue over the next two to three years. This optimistic projection is fueled by the increasing demand for coffee from developed economies, a trend that industry insiders are eager to capitalize on.

Statistics from the United Nations COMTRADE database on international trade revealed that Nigeria’s exports of coffee, tea, mate, and spices totaled $38.63 million in 2021. Against this backdrop, industry leaders are strategically positioning themselves to leverage the growing global interest in coffee products.

Africa, as a continent, plays a crucial role in meeting the international demand for coffee, supplying a significant 80 percent of the United States’ coffee imports. Speaking at the World Coffee and Tea Expo in Lagos, the President of the West Africa Specialty Coffee Association, Lanre Segun, highlighted their ambitious target to generate $2 billion in coffee revenue within the stipulated time frame by consolidating cultivation capacities.

Segun emphasized the industry’s readiness for expansion and its efforts to tap into the international demand for Nigerian coffee, particularly from markets like Japan and Canada. He underscored the need for Nigeria to cultivate interest in coffee farming among its populace, citing the dissemination of accurate information as a critical factor. He addressed the prevalent misconception that coffee is a byproduct of cocoa and stressed the importance of securing land, a significant challenge for prospective coffee farmers.

Furthermore, he urged states engaged in coffee cultivation to make lands readily available to farmers and emphasized the need for adequate education and the use of machinery to enhance production, especially with regards to clearing farmland.

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