African nations agree to boost cocoa processing and earnings
Nigeria and other African cocoa-producing countries have agreed to work together to increase local cocoa processing and improve farmers’ incomes. Senator John Enoh, Minister of State for Industry, shared that the recently concluded Cocoa Value Addition Summit in Abuja led to the adoption of the Abuja Declaration. This framework aims to reduce Africa’s reliance on exporting raw cocoa beans and help the continent capture more value from the global cocoa industry. The initiative is also designed to prepare African exporters for new international trade regulations.
What we know
- Senator John Enoh announced the adoption of the Abuja Declaration after the Cocoa Value Addition Summit in Abuja.
- The declaration encourages African countries to process, brand, and price cocoa products locally rather than relying on exporting raw beans.
- Participating nations agreed to coordinate their approach to global cocoa trade and improve the competitiveness of African cocoa products.
- The declaration aims to help stakeholders across the cocoa value chain, including farmers, processors, and entrepreneurs.
- The move is part of broader efforts to create jobs, increase foreign exchange earnings, and boost industrialisation in Africa’s cocoa sector.
