Why price of coconut will continue to rise

The Federal Government’s ambitious plan to boost Nigeria’s coconut production to 500,000 metric tonnes by 2025 faces significant hurdles. Agriculture Minister Alhaji Abubakar Kyari set this target for economic gains, but challenges like high import dependence, tariff impacts on fertilizer, closed borders, and soaring coconut prices hinder progress. Farmers emphasize the urgent need for support, better farming practices, and infrastructure to achieve sustainable growth. Meeting the 2025 goal remains a formidable challenge. Source: The Guardian

Our Review
The Federal Government’s ambitious plan to boost Nigeria’s coconut production from 224,186 metric tonnes to 500,000 metric tonnes by 2025 faces significant challenges. Agriculture and Food Security Minister, Alhaji Abubakar Kyari, announced this goal, touting its economic benefits, but with less than a year remaining, achieving it seems daunting.
Key hurdles include heavy reliance on imports to meet local demand, causing a sharp rise in coconut prices from N200–N250 to N550–N600 per coconut. Import tariffs on fertilizers, border closures, and soaring demand exacerbate the situation. Farmers emphasize the urgent need for support, improved farming techniques, and better infrastructure to sustainably increase coconut production.
The road ahead is challenging, requiring strategic interventions and collaboration across sectors to overcome obstacles and realize Nigeria’s coconut production potential by the set deadline.