Cocoa farmers in Oyo State are celebrating a record-breaking farming season as the price of cocoa beans skyrocketed in 2024, bringing unprecedented profits to agrarian communities across the state. Speaking with the News Agency of Nigeria (NAN) in Ibadan on Wednesday, a cross-section of farmers described the outgoing season as the most profitable in their farming careers, with many using their earnings to improve their living standards and invest in long-term projects.

The farmers revealed that proceeds from cocoa sales this season tripled compared to previous years, enabling them to embark on life-changing ventures such as building houses, purchasing cars, and acquiring motorcycles. The price of a kilogramme of cocoa beans, which ranged between N2,800 and N4,000 in December 2023, surged to N12,000 by mid-December 2024, significantly boosting farmers’ incomes.

Nurudeen Alimi, a cocoa farmer from Elede Ominigbo Village in Ibarapa North Local Government Area (LGA), reported harvesting over 860 kilogrammes of cocoa beans from his farm this season. Despite challenges such as black pod disease and cocoa swollen shoot virus, which reduced his yield, Alimi said the financial returns far exceeded his earnings from the past five years combined.

“This season has been a blessing. I’ve started building a four-bedroom flat in Eruwa town, and my family’s livelihood has improved significantly,” Alimi said.

Tiamiyu Afolabi, a cocoa farmer at Ore Farm Settlement, shared a similar story of transformation. Afolabi, who ventured into cocoa and kola nut farming in 2005 after struggling academically, expressed pride in his decision to pursue agriculture. He disclosed earning over N25 million from his cocoa farm this season, a sum he believes surpasses the gratuity of many of his peers retiring from government jobs.

“I used to envy my schoolmates, thinking they would be better off than me. But today, I can confidently say I made the right choice. Cocoa farming has changed my life,” Afolabi said.

Taofeek Adesola, another farmer from Erunmu in Egbeda LGA, returned to his village in 2020 to manage his late father’s cocoa farm after losing his job in Lagos. Adesola described the 2024 season as a turning point, enabling him to renovate his father’s house and begin constructing his own home. He also plans to replace old cocoa trees with high-yielding seedlings to boost productivity in the coming season.

Ezekiel Olagunju, a cocoa produce buyer, attributed the price hike to several factors, including the devaluation of the naira, which increased the naira income from cocoa exports. Additionally, a shortfall in cocoa production in Ivory Coast and Ghana, the top cocoa-growing countries in West Africa, due to unfavorable weather conditions, created a surge in global demand.

“The naira devaluation and reduced production in Ivory Coast and Ghana have driven up cocoa prices. This is a golden opportunity for Nigerian farmers,” Olagunju explained.

While celebrating their newfound prosperity, Olagunju urged farmers to invest their earnings wisely to ensure long-term benefits. “Cocoa farmers should manage their proceeds judiciously and invest in ventures that will yield sustainable profits in the future,” he advised.