Di four African countries wey produce about two-thirds of world cocoa don finish arrangement to form alliance and face di world cocoa market as one group, one big move wey go change di supply and price of cocoa.

Minister of State for Industry, Trade and Investment, Senator John Eno, talk say Nigeria, Cameroon, Côte d’Ivoire and Ghana don agree to sign Abuja declaration by creating one Cocoa Value Addition Alliance.

Through dis alliance, di four nations go negotiate set standards and face di world market as one bloc.

Dem go sign di declaration for Cocoa Value Addition Summit 2026 wey go hold for Abuja.

Eno say di theme of di summit, “From Bean to Brand”, show say di countries dey ready to stop di century-old practice of exporting raw cocoa beans.

“For one hundred years, Africa don dey send im cocoa to di world for bags and dey receive am back for wrappers, dey pay for both sides of di transaction. Di gap between bean and brand na jobs and dignity.

Di summit na for di four cocoa-producing countries to close dat gap as dem gather to redesign, not to complain,” Eno talk.

Eno point out say di cocoa summit dey happen for one important time for di global cocoa economy as world prices don swing from historic highs above $11,000 per tonne to near $3,000 and back to $5,000 within 18 months.

Dis volatility dey affect farmers most for farm gate.

“Di Alliance go make sure members get one joint position on how to implement regulations, including recognition of national traceability systems and di principle say compliance costs must not fall on smallholder farmers,” Eno talk.

Eno note say European Union’s Deforestation Regulation dey apply to large and medium operators, wey require plot-level traceability for all cocoa wey dey enter European Union (EU), wey buy about 60 per cent of global cocoa exports.

Eno add say Nigerian government go also sign di Cocoa Value Addition Accord, one national compact wey go bind governors of cocoa-producing states, including farmers, industry associations, researchers, development financiers, to measurable commitments on processing, farmer income and investment, with one delivery council wey di Minister of State for Industry go chair.