The debate over Ghana's cocoa sector has intensified as Hon. Ali Maiga Halidu, a former Member of Parliament for Dormaa West and leading member of the NPP, demanded a formal apology from the Mahama administration for what he calls the "economic sabotage" of cocoa farmers.
Speaking on Saturday, February 21, 2026, Halidu accused the government and COCOBOD of a failed speculative bet that led to the recent 28% reduction in the producer price of cocoa.
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| Hon. Ali Maiga Halidu |
The 300,000 Tonne "Hoarding" Accusation
Hon. Ali Maiga Halidu dropped a political bombshell by alleging that the government intentionally withheld significant quantities of cocoa from the market during the 2024/2025 season.
The Failed Bet: Halidu claims COCOBOD hoarded 300,000 metric tonnes of cocoa when global prices were peaking at $12,000, hoping prices would climb even higher.
The Market Crash: As global prices corrected down to the current $4,000 range, the government was forced to sell the hoarded stock at a massive loss, creating a liquidity crisis that necessitated the mid-season price cut.
"Farmers Are Paying": He argued that the GH₵1,038 haircut (the difference between the old GH₵3,625 price and the new GH₵2,587 price) is essentially a penalty imposed on farmers for the "incompetent gambling" of state officials.
Demanding a National Apology
Halidu's demand for an apology is rooted in what he describes as the "hypocrisy" of the NDC's 2024 campaign promises.
Campaign vs. Reality: He reminded the public that the NDC had promised to increase cocoa prices and pay farmers instantly, yet their first major act in 2026 was to slash prices and accumulate GH₵855 million in arrears.
Economic Sabotage: He labeled the situation "economic sabotage," claiming the government is "robbing Peter to pay Paul" by using farmer revenues to plug holes in a mismanaged national budget.
COCOBOD's Counter-Stance
The government and COCOBOD leadership have flatly rejected Halidu’s claims of hoarding.
Market Dynamics: COCOBOD CEO Hon. Joseph Boahen Aidoo (whose tenure has overlapped the transition) previously explained that the price cut was a technical necessity driven by the FOB (Free on Board) reality, not a speculative loss.
Legacy Debt: The administration maintains that they inherited a GH₵60 billion debt and a "collapsed" cocoa industry from the previous NPP government, making the current stabilization measures painful but unavoidable.
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