Nigeria, Cameroon to agree on cocoa premium: What will this mean for Nigeria’s cocoa industry?

Nigeria and Cameroon are planning to agree on a premium for their cocoa. That's according to the Vice President of World Cocoa Producers Organisation, Sayina Riman. Fellow West African cocoa producers, Ghana and Ivory Coast had already set a floor price for the crop at $2,600 per tonne. To discuss what this move will mean for the region and Nigeria’s cocoa industry, Executive Director of FTN Cocoa Processors, Akin Laoye joins CNBC Africa.