Senator Neda Imasuen, Chairman of the Senate Committee on Ethics, Privileges and Public Petitions, has criticised the international trade system that requires Nigeria to export raw cocoa while importing finished chocolate products at significantly higher prices. Speaking as an Honorary Guest Speaker at the Golden Rule Summit Roma 2026 in Italy, Imasuen argued that this imbalance strips resource-rich developing countries of the benefits they should derive from their natural wealth, contributing to unemployment, poverty and migration.
Using Nigeria's cocoa industry as a case study, Imasuen questioned why the country must export its agricultural commodity to developed economies for processing, then purchase the finished chocolate at much higher costs. He suggested that establishing processing and manufacturing industries within Nigeria would enable the country to retain greater value from its agricultural produce, create employment and improve living standards. The lawmaker posed the question of whether setting up chocolate factories in industrial or agricultural states would help reduce economic imbalances, lower unemployment and ultimately curb irregular migration and human trafficking.
Imasuen stressed that his criticism of the international economic system did not excuse Nigerian leaders from addressing domestic economic challenges. Instead, he called for examination of whether the structure of international trade delivers equitable benefits to countries producing valuable agricultural commodities and natural resources. He maintained that developing countries should be able to process more of their raw materials locally rather than depending on wealthier economies for finished products derived from their own resources.
On addressing economic challenges within Nigeria, Imasuen highlighted several legislative initiatives. He cited the Student Loan Fund, which provides financial assistance to eligible students for education and upkeep, with repayment tied to graduation and subsequent employment. He also pointed to tax reforms designed to support small and medium-sized enterprises, noting that qualifying businesses could benefit from tax relief and exemptions under certain provisions. The senator identified the Dangote Refinery as an example of a major industrial enterprise established in Nigeria.
On tackling irregular migration and human trafficking, Imasuen said enforcement measures alone were insufficient. Instead, he called for greater investment in skills development, industrialisation and job creation to enable Nigerians to earn a living at home. Beyond economic policies, he urged legislators and policymakers to ensure that laws respected human rights and protected human dignity, while calling for stronger international cooperation, fairer trade agreements and ethical governance that prioritised underserved communities.