President Muhammadu Buhari has signed the Instrument of Accession to the International Cocoa Agreement, 2010 at the State House, Abuja.
The signing followed the Federal Executive Council approval for Nigeria to accede to the International Cocoa Agreement, 2010.
A statement by the Senior Special Assistant on Media and publicity, Garba Shehu, on Monday said that 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, he said, is 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.