NEW YORK COCOA

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Cocoa Trading Resumes in Nigeria's Ekiti State After Governorship Election

06/20/2022 | 06:06am EDT

By Obafemi Oredein

Special to Dow Jones Newswires


IBADAN, Nigeria-Cocoa trading has resumed in Nigeria's Ekiti State after the markets closed on Saturday during the region's governorship elections, traders said Monday.

Transportation and marketing of cocoa has resumed, as farmers returned to work and gasoline stations reopened after the elections.

Biodun Oyebanji, candidate of the ruling All Progressive Congress won the election after securing 187,057 votes.

Ekiti is one of the five cocoa-producing states in Nigeria's southwest region. The region accounts for 70% of Nigeria's annual cocoa production of 250,000-280,000 metric tons, according to trade groups in the country.


Write to Barcelona Editors at barcelonaeditors@dowjones.com


(END) Dow Jones Newswires

06-20-22 0605ET

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