Senator faults system making Nigeria export cocoa, import chocolate

Senator Neda Imasuen has criticized the global economic system that allows Nigeria to export raw materials like cocoa while importing finished products, such as chocolate, at higher prices. This imbalance, according to the Senator representing Edo South Senatorial District, deprives resource-rich developing countries of the benefits of their natural resources, leading to unemployment, poverty, and migration.

In an address at the Golden Rule Summit Roma 2026 in Italy, Imasuen argued that the principle of treating others as one would wish to be treated should extend to international trade, economic policies, and legislation. He questioned why Nigeria, a cocoa-producing country, must export its commodity to developed economies for processing and subsequently purchase chocolate and other finished products at higher prices.

Imasuen suggested that establishing more processing and manufacturing industries in Nigeria could retain greater value from agricultural produce, create jobs, and improve living standards.

Brief written by urgent.news from Punch's own syndicated text. Machine-written — may contain errors; check the original before relying on it.