President Muhammadu Buhari on
Monday, at the State House, Abuja, signed the Instrument of Accession to the
International Cocoa Agreement, 2010.
This followed the Federal
Executive Council’s approval for Nigeria to accede to the International Cocoa
Agreement, 2010,
His spokesman, Garba Shehu, made
the announcement in a statement.
He said: “Following the execution
of the instrument of accession, Nigeria undertakes “faithfully to abide by all
the stipulations therein contained” in the Agreement.
“Among other benefits, 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.”
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