Key stakeholders in Nigeria’s burgeoning coffee segment are brimming with optimism, envisioning the industry’s potential to yield a substantial $2 billion in revenue over the next two to three years.
This bullish outlook is rooted in the surging global demand for coffee, especially from developed economies, a trend that industry insiders are keen to leverage.
Data from the United Nations COMTRADE database on international trade recently revealed that in 2021, Nigeria’s exports of coffee, tea, mate, and spices amounted to $38.63 million.
Africa holds a pivotal role in satiating the world’s growing appetite for coffee products and supplying 80 percent of the United States’ coffee imports.
Lanre Segun, the President of the West Africa Specialty Coffee Association, conveyed this optimistic vision during the World Coffee and Tea Expo in Lagos.
He said, “In the next 2 to 3 years, by aggregating our cultivation capacity, we aim to generate $2 billion in coffee revenue.”
He also emphasized the significant international interest in Nigerian coffee, particularly from markets like Japan.
However, Segun stressed the importance of stimulating local interest in coffee cultivation, as many still confuse coffee with cocoa.
“Securing land is a key challenge,” he noted and urged states involved in coffee cultivation to allocate land to farmers generously, highlighting that clearing farmland requires machinery and proper education to enhance production.
With a growing global demand for Nigerian coffee, industry leaders are gearing up for expansion and aiming to further tap into the lucrative international market.
Proper dissemination of information, coupled with government support and infrastructure development, are vital elements in realizing the industry’s lofty revenue goal.