Cocoa Sector Crisis: Dennis Edward Aboagye Defends NPP Record, Blames NDC for Current Challenges

A member of the New Patriotic Party (NPP), Dennis Edward Aboagye, has strongly criticised the governing National Democratic Congress (NDC) over what he describes as attempts to shift blame in the ongoing cocoa sector challenges.

In a detailed statement, Aboagye accused the NDC government of trying to deflect attention from what he termed a “poor trading decision” that has negatively impacted Ghanaian cocoa farmers. According to him, the issue is strictly between the current government and cocoa farmers, insisting that the NPP should not be dragged into the matter.

He outlined what he described as the situation inherited by the NPP in 2017, including a reported GH¢19 billion debt at the Ghana Cocoa Board (COCOBOD), rollover liabilities of about 190,000 metric tonnes of cocoa, a downturn in international cocoa prices, and significant cocoa road debts. He further alleged that a $1.8 billion syndicated loan contracted in 2016 was mismanaged, leaving supply obligations unmet.

Despite these challenges, Aboagye maintained that the NPP administration under former President Nana Akufo-Addo did not reduce cocoa producer prices, holding them at GH¢475 to protect farmers. He added that the government paid a $7.5 million penalty on an unfulfilled cocoa supply contract and went on to meet the obligations.

Additionally, he claimed that as of January 7, 2025, the NPP government left $500 million in COCOBOD’s account at Ghana International Bank in London and had secured cocoa sales expected to generate over $1 billion in revenue. He referenced budget disclosures by Finance Minister Cassiel Ato Forson indicating that COCOBOD received approximately $1.8 billion within the first four months of 2025.

Aboagye argued that COCOBOD has historically operated with debt and that such liabilities had never resulted in what he described as a “massive haircut” on cocoa producer prices. He called on the current administration to accept responsibility and urgently restore cocoa farmers’ prices.

He concluded that Ghanaian cocoa farmers deserve transparency, accountability, and immediate corrective measures rather than political deflection.