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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

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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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