President Muhammadu Buhari has signed the Instrument of Accession to the International Cocoa Agreement, 2010.A statement signed by Senior Special Assistant on Media and Publicity to the President, Garba Shehu, yesterday, said the decision came following the approval by the Federal Executive Council (FEC) for Nigeria to accede to the agreement.
According to the statement, with the execution of the instrument of accession, Nigeria undertakes “faithfully to abide by all the stipulations therein contained” in the agreement,The agreement, among other benefits, is expected to strengthen co-operation between exporting and importing member-countries, improve their cocoa economies through active and better-focused project development and strategies for capacity building.
It 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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