NEPC Warns Nigeria of $1 Billion Loss Over EU Regulations

The Nigerian Export Promotion Council (NEPC) has warned that Nigeria risks losing more than $1 billion in annual export earnings if exporters do not comply with the European Union Deforestation Regulation (EUDR). Benedict Hegbe, Regional Coordinator of NEPC, issued this warning during a seminar on the EUDR and the National Single Window (NSW) in Lagos.

The EUDR mandates that exporters prove that commodities shipped to the EU are deforestation-free and legally produced, supported by due diligence documentation. Commodities affected include cocoa, rubber, wood, oil palm, soya, coffee, and cattle.

Hegbe highlighted cocoa as Nigeria's most vulnerable export, with exports valued at 1.49 billion euros in 2024, making up 89% of Nigeria's cocoa exports. He urged stakeholders to prepare ahead of the fourth quarter of 2026.

Large operators must comply by December 30, 2026, while small and medium-sized operators have until June 30, 2027. Ekok-Oyama noted that compliance also involves labor rights and documentation, with the Customs Service playing a crucial role in enforcement.