Nigeria will next week host a high-level gathering that could reshape the future of the global cocoa industry, as Cameroon, Côte d’Ivoire, Ghana and Nigeria prepare to form a new alliance aimed at increasing Africa’s influence in the multibillion-dollar cocoa market.
The summit, scheduled for Tuesday in Abuja, will bring together government officials, industry leaders and financial institutions to launch a coordinated strategy focused on processing more cocoa within Africa instead of exporting raw beans.
Abuja Declaration to Mark a Historic Partnership
A key outcome of the Cocoa Value Addition Summit 2026 will be the signing of the Abuja Declaration, which will formally establish the Cocoa Value Addition Alliance.
Together, the four participating countries produce nearly two-thirds of the world’s cocoa, giving the alliance significant leverage in international trade discussions.
The partnership is expected to promote joint negotiations with global buyers, align industry standards, encourage local processing and strengthen the region’s position in the international cocoa market.
The summit is being held under the theme “From Bean to Brand,” reflecting the ambition to create more value from cocoa production within Africa.
Nigeria to Launch National Cocoa Reform Plan
Alongside the continental agreement, Nigeria will introduce its own Cocoa Value Addition Accord.
The national framework will unite the federal government with cocoa-producing state governments, farmer associations, researchers, private industry representatives and development finance institutions.
Officials say the agreement will focus on expanding domestic processing capacity, increasing investment across the sector and raising farmers’ incomes through measurable targets.
Implementation will be monitored by a delivery council chaired by the Minister of State for Industry, with annual progress reports planned to ensure transparency.
Minister Calls for End to Century-Old Trade Model
Ahead of the summit, Minister of State for Industry Senator John Owan Enoh said African producers could no longer accept a system that exports raw cocoa while most of the profits are generated elsewhere.
According to the minister, African countries have spent generations shipping cocoa beans overseas only to import finished chocolate products at far higher prices.
He described the upcoming alliance as an opportunity to reshape the industry’s future, arguing that the distance between producing cocoa and manufacturing finished products represents lost jobs, industrial growth and economic opportunity.
Enoh, who also farms cocoa in Cross River State, is expected to deliver the summit’s keynote address.
Alliance to Address New European Union Rules
One of the alliance’s first major tasks will involve responding to the European Union Deforestation Regulation, which takes effect for medium and large operators on December 30, 2026.
The regulation requires cocoa entering EU markets to be fully traceable back to individual farms while proving that production has not contributed to deforestation.
The four countries are expected to advocate for international recognition of their national traceability systems and argue that compliance costs should not fall on smallholder farmers.
Price Volatility Highlights Need for Stronger Cooperation
Organisers say the alliance comes at a critical time for the cocoa industry following dramatic swings in global prices.
Over the past 18 months, cocoa prices climbed above $11,000 per tonne before dropping to roughly $3,000 and later recovering to around $5,000.
Those fluctuations have created uncertainty throughout the supply chain and placed considerable financial pressure on producers, particularly small-scale farmers.
Leaders believe closer cooperation between producing nations could help create a more stable and sustainable market.
Financing and Investment to Feature Prominently
The summit will also focus on unlocking new investment for Africa’s cocoa sector.
Representatives from the Bank of Industry, the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), and other development finance institutions are expected to announce new financing initiatives designed to support cocoa processing and industrial expansion.
Delegates will also receive updates on the construction of Nigeria’s largest planned cocoa processing facility.
The 70,000-metric-tonne processing plant, being developed by Sunbeth Global Concepts in Sagamu, Ogun State, is expected to begin operations in 2027 and is seen as a major step toward increasing local value addition.
Part of Nigeria’s Wider Industrial Strategy
The Cocoa Value Addition Summit is being organised by the Federal Ministry of Industry, Trade and Investment through the Office of the Minister of State for Industry, with the Bank of Industry serving as co-convener.
Officials say the initiative aligns with the Tinubu administration’s industrial policy, which identifies agro-processing as a key driver of economic diversification, manufacturing growth, exports and job creation.
A Push for Greater African Control of the Cocoa Industry
Although Africa produces the majority of the world’s cocoa, much of the wealth generated by chocolate manufacturing remains outside the continent because processing, branding and marketing are largely concentrated in Europe and other developed economies.
Through the proposed Cocoa Value Addition Alliance, Nigeria, Cameroon, Côte d’Ivoire and Ghana hope to change that reality by encouraging more local processing, expanding manufacturing capacity, increasing farmers’ earnings and securing a greater share of the global cocoa industry’s economic value.
If successful, the partnership could mark a significant shift in how one of Africa’s most important agricultural commodities is traded around the world.
