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Coffee Industry targets $2 billion revenue


Stakeholders in Nigeria’s coffee industry are optimistic that the industry has the potential to earn $2 billion in the next two to three years.

Data from the United Nations COMTRADE database on international trade revealed that Nigeria’s exports of coffee, tea, mate, and spices amounted to $38.63 million in 2021.

Africa, as a continent, plays a pivotal role in satisfying international coffee cravings, supplying a remarkable 80 per cent of the United States’ coffee imports.

Speaking with Punch at the World Coffee and Tea Expo in Lagos, the President of the West Africa Specialty Coffee Association, Lanre Segun, said “In the next two to three years, by aggregating our cultivation capacity, we aim to generate $2 billion in coffee revenue.”

“There is significant international interest in Nigerian coffee; currently, some are exporting to countries like Japan and Canada. Africa supplies 80 per cent of the US coffee imports, and Nigeria can tap into this market,” he said.

Segun disclosed to achieve this, Nigeria must stimulate interest among Nigerians in coffee cultivation. According to him, proper dissemination of information is crucial.

“Many people confuse coffee with cocoa, and some even consider coffee a byproduct of cocoa. Securing land is a key challenge.”



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