Sequel to the Federal Executive Council approval for Nigeria to accede to the International Cocoa Agreement, 2010, President Muhammadu Buhari, Monday, at the State House, Abuja, signed the instrument of accession.
Consequent upon this, Nigeria undertakes to “faithfully to abide by all the stipulations therein contained” in the Agreement.
This was revealed in a statement issued by Mallam Garba Shehu, Senior Special Assistant to the President on Media and Publicity.
Among other benefits, according to Shehu, the Agreement is expected to strengthen cooperation between exporting and importing member countries; improve their cocoa economies through active and better focused project development and strategies for capacity-building.
The 2010 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.”
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.”