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Nigeria misses out on $275m cocoa revenue as low value addition takes toll

…risks losing spot on cocoa rankings as flood, disease cut output

If local processors had fully processed all of Nigeria’s cocoa, the country’s second-largest export earner after oil, into butter and cake before exporting in 2018, an additional $275 million could have been created by the players in the value chain, BusinessDay’s calculations show. Africa’s most populous nation currently ranks joint fifth with neighbouring Cameroon with…

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