Important participants in Nigeria’s coffee market are hopeful that the sector might generate $2 billion in revenue in the next two to three years.
The increasing demand for coffee coming from developed nations, which industry insiders are eager to capitalize on, supports this optimistic picture.
According to information gleaned from the United Nations COMTRADE database on global commerce, Nigeria exported $38.63 million worth of tea, coffee, mate, and spices in 2021.
In light of this, leading companies in the sector are putting themselves in a strategic position to take advantage of the growing demand for coffee products worldwide.
Africa as a continent provides an astounding 80% of the coffee imported into the United States, making it a vital component in meeting global coffee demands.
“In the next 2 to 3 years, by aggregating our cultivation capacity, we aim to generate $2bn in coffee revenue,” the President of the West Africa Specialty Coffee Association, Lanre Segun, stated at the World Coffee and Tea Expo in Lagos.
Segun said the industry with huge potential is gearing up for expansion, tapping into international demands for Nigerian coffee, especially from markets like Japan.
The President said, “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.
However, Segun said 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.”
Further, he urged states cultivating coffee to release lands to farmers in abundance. “Clearing farmland is a major obstacle, requiring machinery and proper education to enhance production,” he noted.
