Senator Neda Imasuen, the Chairman of the Senate Committee on Ethics, Privileges and Public Petitions, has raised concerns about the global economic system that permits Nigeria to export cocoa while importing chocolate at much higher prices. This disparity, he argues, undermines the potential benefits that resource-rich nations like Nigeria could reap from their natural resources, leading to issues such as unemployment, poverty, and migration.

Imasuen made these remarks during his speech as an Honorary Guest Speaker at the Golden Rule Summit Roma 2026 held in Italy. His media aide, Moshood Karim, shared details of the address with journalists in Abuja. The senator emphasized the need for a shift in how international trade is conducted, advocating for a system that treats all nations equitably.

In his address, Imasuen questioned why Nigeria, a significant producer of cocoa, must send its raw materials abroad for processing only to buy back the finished products at inflated prices. He suggested that establishing local processing and manufacturing facilities could allow Nigeria to retain more value from its agricultural exports.

Establishing more processing and manufacturing industries in Nigeria would enable the country to retain greater value from its agricultural produce, create jobs and improve living standards,” he stated. He further posed a critical question: “If chocolate factories were established in an industrial state or an agricultural state, would the development reduce economic imbalances, lower unemployment and ultimately curb irregular migration and human trafficking?

While Imasuen criticized the international economic framework, he clarified that his comments were not meant to excuse domestic economic challenges faced by Nigeria. He stressed the importance of examining international trade structures to ensure they provide fair benefits to countries rich in agricultural commodities.

The senator also highlighted various legislative initiatives aimed at addressing economic issues within Nigeria. He mentioned the Student Loan Fund, which supports eligible students with financial assistance for education, linking repayment to their future employment. Additionally, he pointed out tax reforms designed to alleviate the financial burdens on small and medium-sized enterprises, encouraging entrepreneurship and broader participation in economic development.

Imasuen further discussed the need for a comprehensive approach to tackle illegal migration and human trafficking, emphasizing that economic conditions must be improved to reduce the push for Nigerians to seek opportunities abroad. He called for investment in skills development, industrialization, and job creation to empower citizens to thrive within their own country.

In his closing remarks, the senator urged for stronger international cooperation and fairer trade agreements that prioritize the needs of underserved communities. He underscored that inclusive development requires responsible governance and a reformed international economic system that allows developing nations to benefit more from their resources.

The Golden Rule Summit brought together various leaders and policymakers to discuss crucial issues related to human dignity, peacebuilding, and inclusive development, highlighting the need for collaborative efforts in addressing global challenges.