President Muhammadu Buhari on Monday signed the Instrument of Accession to the International Cocoa Agreement of 2010.
According to the Mr. Garba Shehu, the Senior Special Assistant to the President (Media & Publicity), President Buhari signed it following approval by the Federal Executive Council (FEC) for Nigeria to accede to the agreement.
“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.’’
He said it would also deliver cocoa of better quality, take effective account of food-safety issues and help establish social, economic and environmental sustainability.
This he said would ensure that farmers were rewarded for producing cocoa that met ethical and environmental considerations.