The Nigerian President, Muhammadu Buhari on Monday signed the ‘Instrument of Accession to the International Cocoa Agreement’, 2010.
Garba Shehu, the Senior Special Assistant to the President on Media and Publicity, in a statement.
He said the signing was a sequel to the Federal Executive Council’s approval for Nigeria to accede the agreement
“Following the execution of the instrument of accession, Nigeria undertakes “faithfully to abide by all the stipulations therein contained” in the Agreement.”
Amongst other benefits, he highlighted that the agreement is expected to strengthen cooperation between exporting and importing member countries; improve their cocoa economies throgugh active and better-focused project development and strategies for capacity building.
He went on to further say that the 2010 cocoa Agreement is also expected to build on the successes of the 2001 Agreement by “implementing measures leading to an increase in the income of cocoa farmers and by supporting cocoa producers in improving the functioning of their cocoa economies”.
He concluded by saying that “It will also “deliver cocoa of better quality, take effective account of food-safety issues and help establish social, economic and environmental sustainability, so that farmers are rewarded for producing cocoa that meets ethical and environmental considerations”.